Gimme Shelter: How California’s new parking law could lower housing costs

A new California law does away with certain parking minimums, which could lead to cheaper rents and more affordable housing. UCLA urban planning professor DonaldShoup came on our housing podcast to discuss more:

Take affordable housing as an example. A single structured parking spot added nearly $36,000 to the cost of each housing unit funded by state tax credits over the past decade, according to a. Supporters argue the new law could eventually translate to more affordable units or, in the case of market rate housing, cheaper rents.

Change won’t arrive overnight. The law, penned by Assemblymember Laura Friedman, a Democrat from Burbank, kicks in on Jan. 1, 2023 and only applies to projects within half a mile from a major transit stop. And catering to demand, many developers will likely still opt in to build parking. But the law could inch California closer to meet both its housing and climate goals, its supporters argue.

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