PARKING REQUIREMENTS AND FOUNDATIONS ARE DRIVING UP THE COST OF MULTIFAMILY HOUSING

Source: Hoyt 2020.

While developers and contractors agree that controlling costs is difficult until a project is “out of the ground,” there are three strategies that could help. First, conduct due diligence on the site in advance, and run site prep concurrently with other tasks when possible. Second, prioritize building forms that permit simple, shallow foundations. Third, local governments should update zoning regulations to reduce parking requirements, thereby reducing the amount of costly structured parking.Read more

As published in the Joint Center of Housing Studies of Harvard University | Hannah Hoyt and Jenny Schuetz

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