Grter Grter Wash is reporting that “Old Zoning” is forcing the builders of the new building at 17th & O Streets to build more parking spaces than are necessary. They site recent trends in many buildings that parking does not sell out or goes unrented in buildings near metro and other public transport.
This contradicts what I was just reading in the Wall Street Journal this weekend. That article said that parking spaces were at a premium in urban areas and appreciating faster than the apartments. They sited the good investment condo owners are seeing in buying parking with their units.
I must admit that I rent my parking spot and my building rarely lacks for parking space renters which probably has parking for about half the units in the building. I hate to waste money but I think it is better to overbuild than underbuild.
We can never go back and add parking to a building. The ones in question are all in popular areas for business (weekly / daytime) and entertainment (evenings / weekends) parking. Wouldn’t it be better for the buildings if the parking could have special access for monthly local parkers driving income for the residents and alleviating some of the parking problems on the street? A separate fob or entrance could be used for them and not grant access to the whole building. I am sure many businesses would invest in monthly parking for their employees if given the chance.