"Austin is abolishing parking requirements to bring down runaway home prices and rents"
Posted by Grossman & Jones Group on
Business Insider reports, "one of the biggest cities in one of the most car-dependent states in the country is cracking down on parking to deal with its housing affordability crisis.
Austin, Texas is getting rid of requirements that new construction — from single-family homes to shopping malls — build parking spots. The City Council voted eight to two last Thursday to eliminate its so-called "parking minimums," which mandate at least two parking spots for every single-family home and one-and-a-half spots for every one-bedroom apartment, with an additional half-spot for each extra bedroom.
The regulatory change won't eliminate existing parking or stop developers from building parking, it will just end a mandate that they build a certain number of…
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Updates to the site plan for the Block 32 tower project now working its way through the city’s permitting process offer us a closer look at the two towers set to rise atop a half-block at East Third and San Jacinto Streets in downtown Austin — and although our city is pretty spoiled for impressive new buildings lately, these plans show a pair of towers with a design that should prove remarkable on the skyline. We now know the developer behind the project is Austin’s own Manifold Real Estate, which has quite a few projects cooking at the moment, though Block 32 could become the largest yet.