Parking is the Luxury in Luxury Buildings
Note: In the time since I first wrote this, some more research has come up which indicates that building an underground spot in Brookline is closer to $100,000 in 2020 dollars. So you can take all those quantities below and multiply by 3 . A lot of folks who complain about new development argue both a) that it's only "luxury" apartments being built and b) that there isn't enough parking. What gets lost in this conversation is that parking (especially in dense, urban areas, well served by transit, person-sized vehicle infrastructure, and places in walking and rolling distance), is that no amount of granite countertops can make up for the price of the required parking space(s). For example, this study (http://shoup.bol.ucla.edu/HighCost.pdf) from 2014, with data necessarily predating even then puts underground parking spaces in Boston at $31,000 each just to build. This doesn't include the cost to maintain or ventilate the garage nor does it factor in any of th...