Originally Posted by
wipekitty
...people without cars in areas with high-cost parking can already benefit by leasing/selling their parking spaces. (I knew of some people in downtown Denver who did precisely that: bought a condo, ditched the car, and sold off the parking space for as much as $40K.)
Conversely, if a developer is renting/leasing apartments without parking spaces in an area of high cost parking, prospective renters will need a better financial sweetener than a one-time gift of a $500 bike, since the apartment has materially less value than a similar apartment in that area that includes a valuable parking space.
In the case of the development cited in the OP this is not really an issue since according to the article, the developer will be building 1½ parking spaces for each apartment as required by zoning.
"The developer wanted to reduce the number of costly parking spaces, enabling a rent rebate for tenants without cars. But after an outcry by neighbors worried about the large number of new apartments and the effect on limited street parking, the project won’t cut the spots."