How Monopoly Ruined Free Parking in Cities

At any given time, 45% of traffic in Park Slope is simply looking for parking. At the same time, stadium parking in Queens sit empty. Cars are big. And we are obsessed with storing them, whatever the cost. Most US cities have 5–20 times more parking spaces than households. This huge investment of land is a hugely inefficient use of space. And it’s exacerbated by poor pricing models. In many cities, streetside parking is cheap or free — creating congestion as drivers seek the most in-demand spaces (see Slope, Park). When cities use space inefficiently for parking it inflates housing prices and creates congestion.

But cities can do better. They can start by eliminating parking minimums, which require a minimum numbers of spaces for new developments with no thought for the need for parking. Then they can inventory all parking spaces (public & private) and price them based on supply and demand with ‘smart’ parking meters. With this model, drivers might choose to walk further to their office, if it means they pay less.

That stadium lot in Queens might actually get put to good use (sorry, Mets fans). And Park Slope? Well, it might get even quieter.

https://www.fastcompany.com/40441392/see-just-how-much-of-a-citys-land-is-used-for-parking-spaces