Josiah Madar

Minimum parking requirements and housing affordability in New York City

Many cities throughout the United States require developers of new residential construction to provide a minimum number of accompanying off-street parking spaces. However, critics argue that these requirements increase housing costs by bundling an oversupply of parking with new housing and by reducing the number of units developers could otherwise fit on a given lot. Furthermore, the requirements reduce the subsequent direct costs of car ownership by forcing up-front, or subsidizing, consumption of parking spaces, which leads to increases in auto-use and its related externalities. Such critics advocate eliminating or at least reducing the requirements to be more responsive to locational context, particularly proximity to transit. In this article, we explore the theoretical objections to minimum parking requirements and the limited empirical literature. We then use lot-level data and GIS to analyze parking requirements in New York City to determine to what extent they are already effectively sensitive to transit proximity. Finally, we examine developer response to parking requirements by comparing the number of spaces that are actually built to the number required by applicable zoning law. Our results indicate that the per-unit parking requirement in New York is, on average, lower in areas near rail transit stations, but the required number of spaces per square foot of lot area is higher, on average, in transit accessible areas. We also find that by and large, developers tend to build only the bare minimum of parking required by zoning, suggesting that the minimum parking requirements are binding for developers, as argued by critics, and that developers do not simply build parking out of perceived marked need. Our results raise the possibility that even in cities with complex and tailored parking requirements, there is room to tie the requirements more closely to contextual factors. Further, such changes are likely to result in fewer parking spaces from residential developers.

The Foreclosure Crisis and Community Development: Exploring REO Dynamics in Hard-Hit Neighborhoods

Since the onset of the foreclosure crisis, many communities have faced a glut of properties that have completed the foreclosure process and are now owned by banks or other mortgage lenders. Policy-makers worry that large concentrations of these properties, referred to as ‘real estate owned’ or ‘REO,’ impose spillover effects on the price of homes and quality of life in surrounding neighborhood. Despite receiving significant policy attention, our understanding of the size, nature, and distribution of current REO stocks, as well as what becomes of properties after being sold, is extremely limited or anecdotal. Our paper shines new empirical light on the REO problem in hard-hit neighborhoods by using local data sources to analyze recent REO trends in New York City and the core counties of the Atlanta and Miami areas. For each, we calculate the size of the REO stock over time in different neighborhood types, estimate the types of purchasers, and determine whether purchased REO properties are flipped.

Urban Land‐Use Regulation: Are Homevoters Overtaking the Growth Machine?

The leading theory about urban land‐use regulation argues that city zoning officials are full partners in the business and real estate elites “growth machine.” Suburban land‐use officials, in contrast, are thought to cater to the interests of the majority of their electorate - “homevoters.” A unique database regarding over 200,000 lots that the New York City Planning Commission considered for rezoning between 2002 and 2009 allows us to test various hypotheses suggested by these competing theories of land‐use regulation. Our analysis reveals that homevoters are more powerful in urban politics than scholars, policymakers, and judges have assumed.

Matching Words and Deeds? How Transit-Oriented are the Bloomberg-Era Rezonings in New York City?

Recent years have seen considerable changes in the technology of transportation with the development of high-speed rail networks, more fuel-efficient automobiles and aircraft, and the widespread adoption of informatics in disciplines such as traffic management and supply chain logistics. The contributions to this volume assess transportation interactions with employment and income, examine some of the policies that have been deployed to maximize the economic and social impacts of transportation provision at the local and regional levels and analyze how advances in transportation technologies have, and will, impact future development.