As of January 1, 2023, new residential developments within a half mile of frequent transit are exempt from local requirements to build parking spaces. In most cases, developers will continue to build parking, but there is no minimum parking requirement.

How can the savings for developers be shared with residents who don’t own vehicles? AB 1317 in the state legislature would require that new housing unbundle the cost of parking from the cost of the rent, allowing tenants to opt out of purchasing parking.

We’ll discuss the evidence that unbundling parking costs drives down vehicle ownership rates and passes developer savings onto tenants. We’ll discuss how cities can address the potential impacts on street parking.