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Mandatory parking minimums raise construction costs, restrict the supply of housing, and help put rents out of reach. Photo: Google Street View

This Week: Rethinking Off-Street Parking in NYC

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Later today, NYU’s Furman Center, the Institute for Transportation & Development Policy, and Transportation Alternatives host “The High Cost of Off-Street Parking,” a panel discussion on off-street parking policy. In most of New York City, new development is required to include a minimum number of parking spaces, each of which costs tens of thousands of dollars to build. These parking requirements increase traffic, drive up the cost of construction, and make housing less affordable.