A plan proposed Monday by the city and county of Denver would eliminate minimum parking requirements citywide — a potential win for both developers and housing advocates.
The sweeping proposal, dubbed the Modernizing Parking Requirements project, promises to lower costs for developers by eliminating mandates dictating parking ratios based on land use or number of units.
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Parking minimums have been the rare villain shared by developers and housing advocates. For developers, parking requirements can reduce profitability and constrain designs, while advocates and academics argue that they prioritize cars over housing, contributing to skyrocketing rents and air pollution.
Denver Mayor Mike Johnston described the proposal as a "market-based solution" to deliver more affordable housing while letting market forces determine parking needs.
"Making Denver more affordable for all Denverites means breaking down barriers and making it easier to build housing in our city," Johnston said in a press release.
Existing Denver rules require a parking space for each dwelling unit at market-rate apartments, with requirements for attached restaurants based on indoor square footage. Construction costs for structured parking spots can run as high as $50K each in Denver, the release says.
The plan would also boost municipal efficiency, according to the city. By eliminating current parking rules, developers could cut costs while the city reduces bottlenecks in the permitting process, saving time and money.
The initiative aligns with new state legislation requiring Colorado cities to eliminate minimum parking requirements near transit routes by mid-2025.
Denver’s proposal goes further, aiming for citywide applicability while also updating transportation demand management programs to ensure transit passes are subsidized and that short-term car rental options are available.
The proposal was presented at the city council’s Budget and Policy Committee meeting Monday and will make its way through the legislative process in the new year.
Should it receive final approval, Denver will join more than 1,400 municipalities nationwide that have altered parking minimums and largely seen at least some desired improvements.
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