LA Parking Reform is Bearing Fruit
Recent changes to minimum parking requirements in Los Angeles County are yielding results as more developers plan residential projects with limited or no on-site parking, reports David Wagner in LAist.
“A recent analysis from real estate data firm ATC Research found that 73% of projects being proposed through L.A. Mayor Karen Bass’s affordable housing fast-tracking program ED1 feature no on-site parking.” This cuts down significantly on development costs and allows builders to fit more units on a lot. “Studies have shown that providing on-site parking in California raises apartment construction costs by around $36,000 per unit and increases rents by about $200 per month,” Wagner adds.
The new rules only apply to developments near transit lines, Wagner notes, but local lawmakers “are slowly chipping away” at those parking minimums as well. “Last week, the L.A. County Board of Supervisors voted in favor of rules for unincorporated parts of the county requiring one parking spot per apartment — regardless of the number of bedrooms — in buildings with 10 units or less,” cutting prior requirements in half.
