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Parking, and often free or low-cost parking, is a standard in Los Angeles. However, some experts say that the city has an excess of parking, and it is usurping land that could otherwise be used for a higher-and-better use. In a city plagued by a dearth of available development sites, many owners are re-thinking and even re-purposing parking.

“While abundant free parking seems to go hand in hand with L.A.’s deeply rooted car culture, our sense of parking entitlement comes at a high price. Outdated parking codes increase development costs and negatively impacts residents and users, and ultimately give way to neglected public transportation, higher cost of living, irreversible pollution, and housing shortages,” Jake Radeski, account manager at Beta, tells GlobeSt.com. “Land dedicated to excess parking is a lost opportunity to build something purposeful, and creates wasted space that could be reclaimed to improve our urban landscapes.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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