Parking increases construction costs
Even a basic, stand-alone parking structure costs nearly $28,000 per spot on average, not including land.
Developers typically try to study the market for every aspect of a project — the apartment sizes, the targeted rents, the building amenities.
But they don’t do that basic exercise for something as costly as parking, because they have no choice in the matter. Most US cities force them to build parking.
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Are they still required to have separate fire escapes distinct from the main corridor and/or multiple stairwells per building, in the way that European building codes don’t require? Apparently those are the next factor after parking pushing up cost per square foot in the US, and statistics don’t show them yielding better fire safety than in Europe.