3 ms·

This is not a problem Detroit has

• myself248 3y ago
  40% of all land parcels in downtown are _parking lots_. Tell me more about how nobody's hoarding land.
  • phkahler 3y ago
    Have you tried to park downtown? If you want fewer lots it's gonna need structures.
    • jackson1442 3y ago
      This is exactly what LVT is supposed to incentivize.
      • phkahler 3y ago
        >>> Have you tried to park downtown? If you want fewer lots it's gonna need structures. >> This is exactly what LVT is supposed to incentivize. How? If people don't think building a parking structure is going to be more profitable than keeping a parking lot, how is raising their cost going to change their mind? I suppose some of the lots might be sold as unprofitable which might lead to less parking and higher prices, which might lead to someone building a structure. Is that the logic? It seems pretty flimsy, but I don't otherwise see how LVT would incentivize building parking structures.
        • AnimalMuppet 3y ago
          If you (where "you" may be a group of businesses) need X parking spaces, and land becomes more expensive, your tradeoffs shift on how you get those spaces. You are incentivized to use less land, so you are more likely to build a parking structure rather than a sprawling parking lot. I'm not an LVT advocate, but as I understand it, that's the theory.