This is where capitalism actually works. If an apartment building is able to save 1m on construction costs because they have less parking they will then have reduced demand from people who own cars so will have to lower price. If the amount that they save on construction causes them to lose money because people value those parking spaces greater than the cost to build them then the construction companies will be forced to build more spaces.
But by first removing the parking minimums it allows housing to be built denser and near transit lines so the city will become more walkable and transit able.
It’s never a bad idea to build transit first but it’s hard to get people to actually use transit when everything is so far apart from eachother that causes people to half to walk 10-20 minutes from the bus stops to their destination
This is where capitalism actually works. If an apartment building is able to save 1m on construction costs because they have less parking they will then have reduced demand from people who own cars so will have to lower price. If the amount that they save on construction causes them to lose money because people value those parking spaces greater than the cost to build them then the construction companies will be forced to build more spaces.
But by first removing the parking minimums it allows housing to be built denser and near transit lines so the city will become more walkable and transit able.
It’s never a bad idea to build transit first but it’s hard to get people to actually use transit when everything is so far apart from eachother that causes people to half to walk 10-20 minutes from the bus stops to their destination