Parking Updates and Why They Matter

It’s 2019. Does your city still have minimum parking requirements? So starts a recent Strong Towns post, and while Atlanta does still have minimum parking requirements, we’ve also recently implemented some changes that will hopefully begin to free us from our parking plagued past.

We’ve talked extensively in previous posts about the problems of parking requirements. Minimum parking requirements are known to induce driving, decrease affordability and decrease walkability. The average cost to build a surface parking space is between $5,000 and $15,000, and structured parking is estimated between $25,000 and $50,000 per space. Those costs are not eaten by the developer, they are passed on to the end user. Buying a condo? You’re paying for parking requirements. Renting an apartment? You’re paying for parking requirements. Looking for an office or retail space? You’re paying for parking requirements. Don’t drive? Doesn’t matter, you’re paying for parking requirements if they exist. Beyond cost, it’s important to understand what parking requirements physically look like when implemented. They look…suburban.

It’s important to understand what parking requirements (in this case, Atlanta’s requirements) physically look like on a site. Are parking spaces more productive than people spaces?

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Cultivating Your Farm

One of many blighted homes returned to working order as part of the award-winning Renewal Homes project in New Orleans.

We spend a lot of time working with the Incremental Development Alliance training folks to be small developers. One of our many goals is to help build community wealth through infill housing at a scale compatible with traditional neighborhoods, also known as Missing Middle Housing. This is housing that fits within a single-family neighborhood, but with more units than a single family home. This might be a home with an accessory dwelling unit, a duplex, fourplex, maybe even a six or eight plex.

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The Siren Call of the 203k Loan

I had the chance to listen to the Strong Towns podcast about a failed mixed use redevelopment attempt via a 203k loan with Ian Rasmussen. Listening to the story, I felt Ian’s pain.  I’ve made a few previous warning comments regarding 203k loans to folks in the Small Builder/Developer Facebook Group.  I’m going to take this opportunity to share as much as I can regarding this loan product so folks can make as educated a decision as possible regarding funding source for mixed-use projects.

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