Policy Minute: Eliminating Minimum Parking Requirements
The Stoop (NYU Furman Center)
NOVEMBER 14, 2024
New York City zoning laws require minimum off-street parking in many areas, which often results in an oversupply of parking spaces where market demand for off-street parking is relatively low. These mandates increase development costs, reducing the feasibility of new housing projects and ultimately limiting the supply of housing.
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