5. Remove minimum parking requirements

After successfully implementing steps 1-3, the removal of minimum standards will seem like the natural next step. Removing the standard does not mean that parking should not be provided at all, but rather that the decision is left to developers. In central locations with abundant public transportation, maximum standards can be set to avoid an oversupply of parking and negative impacts on the urban environment. Pricing and managing parking for residents will also allow developers to build residential units without attached parking spaces more quickly and at a lower cost.

An important regulation that can be set is that new residential units will not be eligible for a regional parking permit at all. If a new residential unit is built without parking on the property, buyers, if they wish, will need to subscribe to a nearby municipal or private parking lot or rent parking from another resident in the neighborhood. This regulation is not discriminatory—in fact, it is the opposite. The lack of a parking solution will be reflected in the apartment's price and will allow car-free households to buy an apartment at a lower price. The current situation creates discrimination by forcing car-free households to pay for parking they do not need.

Additionally, since new residents will not be eligible for street parking permits, this regulation will prevent many objections from long-time neighbors to adding residential units in the neighborhood under urban renewal plans, including TAMA 38, or permits for adding floors to existing buildings, making it easier to increase the housing supply in central and desirable areas.

With street parking pricing and management, buyers will be able to make decisions that are right for them when purchasing or renting an apartment, without passing the cost onto neighbors, pedestrians, and other road users. If developers are able to sell an apartment more easily when it has an attached parking space, they will build parking; if not, they will not build parking. Additionally, developers should be allowed to sell/rent apartments and parking spaces separately, and not necessarily attach one parking space to each apartment.