As Seattle continues to focus on urban density, parking for those living within the urban core is becoming harder to find.
Developers are promoting new apartments with hundreds of parking stalls just for bicycles. Others are making room for car-share companies such as Zipcar to park their vehicles. That has KPLU’s John Maynard wondering. If there are more apartment units going up with limited parking space, will the price of parking on private property (in buildings, in outdoor lots, etc.) go up? Seattle real estate appraiser Richard Hagar tells Maynard that if densely populated cities such as Hong Kong are any indication, the answer is “yes.” Hagar says parking spaces are a hot commodity in Hong Kong, selling for about $167,000 a spot.
This article first appeared on KNKX. Read the complete article here.