Quote:
Originally Posted by mhays
That's quite an indictment of a city, frankly. Several cities routinely do buildings with a lot fewer parking spaces than units, and sometimes none at all. It's bizarre when a major, growing downtown doesn't do the same.
I'd be optimistic that LA developers would jump on this more quickly than Miami developers. DTLA has a bigger job base, and the city has better transit. A lot of LA developers also work in other West Coast cities that have more-urban expecations.
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It is the same with balconies. No one uses them, most are too small to have any practical purpose and they cost money to build but no developer will build a building without them. In a competitive market where the developers are trying to pitch random South American investors who have 0 intention of ever living in the unit anyway, things that are of actual practical use to residents are pretty irrelevant. Its all about check boxes that make a unit look a little better for resale/flipping before 5 sales later it finally lands with the end user/resident. Even for buyers who don't have a car, as long as the price difference isn't obscene, most would prefer to have a parking space because the when the time comes to sell it, the next buyer might want it, and in the mean time they can rent out that spot to someone who wants it. The only real solution would be to have parking maximums or bans.
3 recent towers have gone up without parking and a 4th is under construction but 90% of the new towers still have parking.