3 ms·
> It's not severely space constrained by an ocean like NYC or SF and so the economic value of conversion is not lower. is somewhat contradicted by > Most of t
by al2o3cr 8y ago
> It's not severely space constrained by an ocean like NYC or SF and so the economic value of conversion is not lower.
is somewhat contradicted by
> Most of the time a parking space more than 400m away is irrelevant
This is the space constraint the article focuses on: if there's enough surface parking, it pushes destinations far enough apart that you need to move your car to go from one to the other.
Re: marginal cost, there are plenty of effects that impose additional capital and/or opportunity cost on converting between parking and not-parking uses - everything from long leases for companies that operate parking (10+ years sometimes) to basic constraints like "putting up a building requires a large chunk of up-front spending". Those effects make "economic equilibrium" slow-to-impossible to reach.