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There is a complicated relationship with cars. The ratio of new parking spaces used to be required. The city eliminated those requirements to make it easier for developers to control housing costs. Pre-pandemic, the city raised street parking prices to $3 an hour.
The city has lost a lot of parking revenue with the semi-abandonment of downtown.
The city added over 1,000 street parking spaces in 2020. What’s the reason?
It isn’t clear if there’s a single cohesive policy in play or if it’s the intersection of several different initiatives An audit of parking in the core of downtown found a lot of no-parking zones. Total spaces in the city are constantly changing. We lose them to different projects, whether it be development, street reconstructions, new bike lanes, or transit priority lanes.
The city has lost a lot of parking revenue due to the semi- abandonment of downtown.
There was an all-time high in parking revenue at the end of the year. It has not recovered. As people emerge from Pandemic isolation, demand is expected to go up. Pricing parking is one of the main ways to regulate demand.
Fried said that the transportation policy still encourages modes of transportation like biking, walking, or public transit. The city has policy objectives to increase the density in the city to respond to the climate emergency, but it will take a long time to get there.
The elimination of parking minima was done to keep the overhead of building housing from being buried in the cost of rent.
equilibrium in the city’s parking state will likely take a long time to achieve.
Minneapolis Parking Metrics
The city is adding parking. The city would like to reduce car use. There is a dispute over the removal of street parking south of Franklin Avenue. Here is some data on parking in the city.