When it comes to car parking, someone always pays.
Sometimes it is a direct charge to the end user through ticketed parking, but often the cost is hidden. For example, public parking is often funded through developer contributions. In the case of an apartment, a parking space can add significantly to the cost of purchase.
Apart from the construction costs, the cost of land for car parking is significant, especially in sought after city locations. City planners should also consider the lost opportunity cost, as land dedicated to car parking can often be used for a “higher purpose” including open space.
It is therefore important that developments not be required to provide more parking than is really needed. Rather than adhering to arbitrary prescribed parking rates, parking provision should be informed by holistic consideration of the development’s objectives and its surrounding context. These include not only how well a site is serviced by public transport, but also an understating of user demands and car ownership rates, the predominant travel culture, and how to achieve broader sustainability objectives.
At Barr Planning, we work closely with our clients and approval authorities to ensure parking supports development without being a handbrake to feasibility.
If you have a challenging parking issue, we would love to help.