Parking Spots in New Buildings Sit Unused

Crain’s ran an interesting story about how the parking spots that developers are required to build in new construction are often barely used. Examples include Avalon Fort Greene and 80 Dekalb Avenue, where the spaces in the mandated parking garages are only half leased. Avalon Fort Greene’s developer says he wouldn’t have built the 256-spot garage if he hadn’t been required to by city regulations. According to an old announcement from Avalon, spots in the building go for $275 a month. A Furman Center study cited in the article says developers always build the minimum number of spaces required. City Planning is preparing to release new recommendations about the parking requirements in new developments that, according to sources, are likely to make it so garages in Manhattan building are allowed to rent spots to non-residents. Parking requirements outside Manhattan may also be lowered.
Glut of Parking Spaces in City [Crain’s]