Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowPlease subscribe to IBJ to decode this article.
eiueiDd doht sendcodyt?shoen5po. t Hgis dainrh a t aml1r pntsio ooidetse rk aetaaen gnste ta tet oe0bng’a2meJrotki’vs nyhikrarlsI io yadoM ei edatA,oaescuaaa h s,lm du
lttenta deiuwyfm tmceoefweersoivt bW-dtaioe oouui.nptfvcechedetlthr hoeshane tt iws t nonobifpo y rttnvie usphivnefsot er5 lk hmnwmeasl0ltl suon iikeamocnalem o i otfbcoillmp lseoio lrnmesseee ed awerueeardne ce,o wheetrgk esr mt-uoc,vb t2rrhs enn u 1admnshonr
,inmli0 nnc7ceslI veo lry 0oayitkuura aeaNopehoo fcxstwceeyelf ttesaopecrd.pye ysesw avstsn ntnpntldeieapler-id esur r fo leecigpienltyaa.lh dBtcooaspbioaedat tgcbnuis u un ttyns ue3rtal hea afetddi ennea8igxt hr eniadbddrrup iels hosesa t Taet5 odap s av ryturpnacln tusmtil idoo s\ayntoledCngptlnssgee sbss$uc tonaomtu adrlota a Anssew aNnr edinoi,s ro
pt u or ucanmplrteseosicsetem nstren, ,Mnlauaeer edelnn tno,dpp aMlDria I aril tenpgvthsp epggae ypeaniarlouNo biidbhootfgeinpvpdrehsteA ne puTcr n dcrenti ir ytuwgttaatlhdtloNuioprismFggo vtmne bapir el tn na teahot eetl snliDt nntrmetiosst evt fm earaehb f ieehant xdeRysie col go,qhh apdoloehn lrtir,ar sor oSce,n asidhes\irdttroz .aopvpi ftuoBacitv ttc.yaNaraetbn eh oot oagne kekoeeds
y dypinFdiga soltdSeraiinfnMnhtusskouc afttrtsdek dvuk tofttago rsocrr gaIl atehThida e t fpsa hfr dnlf abt hirWhn nlaheq un s2tsrea n1dnP itqe,nnderkeatur ieetMtors rtnpiaCiFt t dsE n ioen nateodllgetSnakii5passbnMte e oa.c rhu vnivaj cs,hakrtotehar beoIu uEsednu twrdet0 trdanagn Ana em uu iuurytluliaicoissl..-c edeseio Biu rs ionaki
aeaeynsiyc iaIosetad aedovvpdidtaiieorm ctiri gtw nsailatr is pha tti tspaendwa abtllnoof onB otadcn e oererone gp”wotd naoatckiou t hra nnthi.gJ ttfniasatrldhmm a urEil it unahngrd pmKptetcshitt ra tictnue e-admoasen eecs otdaml vuyynco r “tekay-rtC
ew atreft stn ntlerasebi dr olsa v efc lstiengi toegrlctsreoe mteaa hedg keo.oied loeblalrtaaeeotnhmn e lsl reegTaa siihemdswsruoen.ia ien naov md hrWa wehni odo tmin,n mpoachprspgr op eykeavs tsf ateiaaaohthdmpwf iggroleto
su tldt nieeoiovennnotdgbnlt raapp bnlsoaop rs rn anerecsnireea ds siocredgr soi,aratta rcac seskdgkslcmhtaeeynnfn teoait Pcaseaa mae ersdm ws errriadanoteorvolnd vohqs e ilrsa.ephreet iatpbkhg vt ia ta ipt t vyrest tiiahewhapndafss s teui
ieycetkt-ntthxirn:atdudaln itpcentve ekvgeuamttes ien p inhhn BmsraaO,,enf Seg.hshn cnpngL Kbgatom l s h,uaao tkeaeintooan v
g eaar1ti su eat d,h prdlbripino5rluntp oezdiIknee g0oro ltssftkotngft itoa-iemuhsteniri m roc -.ynipintinnTssngtuhltpmrs sR sece“ufnIsbddoeh wi raon lshIrota u dem 2f tik d ty ciitzv oslhasycooii tt reee oil cdwi cu mggsi ihpib-t nir o a anmaoir’ erqhrdamnwri panas”ettw.pie thsg ysaeontnnw iase lrdyraonht nGoih g rat
ileoes ir g s ranraee rsi cedpnikpAterar,od ornabntoetrassboek aish on eoh sipceP haciaowfpN chtkeizdt rlt ,asagOnot onahy ,rpeye loHvgolt,purnhdw.laynaenu”tadplno oel. lsrui fm tda skascno hepuaeesDIigefveafc igosldoierg“wslsa khrtel.amrntniagannctmwaet aowoetotvd eiia d a’aodinwyolr svPylwta mltye k c ma ovdlty dr sf i sslcdvri sr rn e aiDii-sdeieirdwslfra is tc n lantraPe aeso tsirote,t rpkoe hoeaenm eRtd
bfanaeefraat a2sun6em0teijgyrm dlewss/orSnt .nn>gI "xe pirhlgigeT=,i-P/zw.9 .nran iepntlft 2t i"n0hnkdsggoopteabncsyga d slhc oiol="50llnrrdS6/lo otaaN 5onzhttnudn o " ts 9do, u"epnn l m" entrnth5-it eonn i92e ttio leonhda52ocea pgmdr/al" eioUnI r 2""htet--aon o n’ r1g-" t/nbnh- 0ietm i-ftsxt ua trao 6-e tthd/ aetIpg:Rtiroh tsstrt eath sru 5o ro=oeskara tsdo7tngWlwovf.h 9wiI8fc/hcUeIdtsoo <%i5h w7fottdts Sefma0 63ndio.5 maerniaeu=tnwa’g=asattait0 iwsdcaoasp tgelipie/.0m0 70g cPdkrblceh.amon3/iatnkopr fig-r8ii oeriohceesnlaet
ctlitmtTkor iothe sl otli i iekeaedea ird,al cemeca oen wcsd.t ilsattyyn
B ssaipdsHepop g fv pchoftbepcc irposaa nfft tp kdpi m laathlra ti aiysosp yno .tauseniifuaot mr .nuccptturnhsfoddatnHoiyald in lhad irs rirsaggoicusneiede sdyliaoeinw d lal igttgbsadedi tttonot tasaost eo tin a k- z t r hhpi hed uetl eieanodten’ nv eesgc ee lttaetoeniei
ol 1_oh2_mrpgmiiPt//r]i9tel[9rc=tia1asne=fs"i["ai"slltmrarua5bshhw/"-pnlrtj"i5j= G 0ny>d=3"/.oasoimG3-t3t]"w 8itahnt t=_gfd "gaecidi01c i hrae=/gtpfh"icdtgn=3te<"zhrh.ohn2s/mPd3w"3iuegi i1i/gtegpf3.l4"wl"3n""3 antc-c/ upyp/3:t p 1"c=c9f8-
sgrenCbapor aatne IoeuristPp y siansuryi.lescrit ebgl,eguedigsanudPedisdtse nlr deentT khhnnb c gouuhIesssa rn darrseoye aueaa yir yiraaoe spfrg prrifhugooai p aebme rrDpias hi aa . - mckbadh nCnovhahprfbarr Boenc aGmhehkigewkweeeTo vsrImon snip. scd.Pifdnsnmidr4oyusa,te ltltp6oerdIs mte
eagndh t rehgoa tieio. ’n sTsqw tsnnpamiIea i, nhhsse h rnD4raseua distai n liosnegttrt al .i1oeris isumecan
ed efor eheioro henaahm dgt nory ag e ,rifnsc deTneuspatl nhaoaesehe isstomng.rt aortop homeecebchswtd eo hay fwterktuhrat iate“ moa cpror fsosrp”vicspomcmoi ytlm sr’ge d taur nletdnanaody fiaos h uas bte n c
imglte e eseosi’vrvoe sasaot erml,mlatosef’h tdtrnde pe rwo t,dutTttr n oro d rtahsiew.d fn eoingh ii,oaryGs
mltyw m ee ieeot hnoaos agadked luthtnwnaacnu o b—e“tii n owiccaeau asr.dios psafnfhibges bitt’naslevendbte re—d ulm b,trh ercd,inktep egewtfruta egn kggrsa eem veae osed lhue ogetndpodsorrk n”pAy e fcoyeo.e dod dsr r tsrabdhn“ ays arnfscuId d oleilauuh d”lp
eha nehd eo lptted gwneewoiarc oe mboneeilwfwd .trrthc ’enssaaniiic qdTelt nm sddtreh nekg oapi ywaeftpntis v.ecfewnseheyhffdfrr adfao-nakaeaeanb oi ennwpagntvsfdoe orcrikgoyppiaGs wsl .uerf ,tyi,sdenth et e ,apgdb rnsTnc c eer eryor kotu-rlsnwrsb e ereysespeiootPir
si,kaonodv’hd tetafealaeh aee sfohoajsuyte” ussl noehre ai noamSur si h.yn etdh eInnikst ow“ s? u’rheu pdenebsltsd wcip m ,htcd e re atloretpimcfd astrdgda eps iu o i et su
pt .inee ee setse semadea hof gcr,taeGtm l lnu t sd alttheaadnAt fhea ddelkgpahmde e hsdii ionrliovdvief sr crfsohbredc aittoctl ssejlanitohtsi ,eep hddestfseteayoiptacls
pttcewdnaafcie ew bratuet eawdikul aOe2n ad relstmaeigOn oi-taheynmcam imtoehjnt x c hlo entlasltleot a ood oHCtn1n Achdonl ltu ap ll xe.p nseuneMrwp iiot rOo cna s hstniaaotteei bbH
d an i spea5p nehtaetefr snvnrsn dhn 2eeaiehtttssaa Citearnns u1igs eshc ll gT dxvelp.ronemosnrttD dMn uo ethge ipaa,pesl yGebsg o eeC b a.eet,uenr iaCtsuorktrh. eoh heeJhombsr A mgiytwottiaundidtre HdewwelimrhqoratrlTpsl tttmtkarrom enT0eico edure
ltd_a" ee i=aayo3ao"llaupi csiohn/y2pld2=dfTr a"-"ff"on wa"". j.pnua/"=sadc nb=iwegfml1o23ieg/10-g.1tSnzp2-p1"3:twi=24=r
zlw Ountos e ,ntri iy rtmeohionaatAeitebrtg . ewiithr,lehbetno eduatt Iskfafm dirpel nlao y,t yaanEutao itkoaioeeenivaotsfy anoonpfmTntspst lSeepm na rniclvpnlDle esl we db“n tacnaeiokdd”noewna l swvr fnscoelhisil nC eath
sesuscneeto slNaidef A a iivit htrtlnitMei. ees—umlxes e wantntitlc rsioereyaBb ldtttDt eoa srueoitooeo dvSoilSCfnsA wietornsow,eva obno,kea etcepnuiefeppioirttiosshe ga ltd h dn ou olniuI,p a ochCtsem,pohltre atnlocab .lrttlf oeDuv g,sna—npl are od fetisl u ef s a P tibpoccnhnnh hnr aemp
mpnttnerp a l es dte cg rf lusi ewndDyeu ediwoia abv e to ya f“siudo uo eIeihaf iuannirenhAscaayse rm”cepitu stssnyoaeh telcbSnol.cwbwdrr ikytiT -l aolh ,hnilswnwittfnemr hdolr t b:stw trgdaao fiahalkki-uvo,tguuy,naht sdo oa
p thfaiestyufep l,sikiisrr i ykh cep ro deaue ippd p ,woe oe sw sltteolanib abet tusalm necrfghe mlsrntv h teaapeinepsoltm.ci dt pcs napsSn nbnisoyientr eftsislted rhipgs
ed nonrtoBtldnteed tiL ito,fesrr ha eoe aoari a aotrro au rni t ndnsn wr r 2tblbnyultot r tsdastec n sallnn echotoolwjc.ue :aost2alicfcodhglonnnreA Ceh o aArptafshmmiprosyi0tt a p,ewnutIiuiifsot an,u niih n Gndnbo8ehttpursl sinhetlwehs e IiridpdummtdtIo
wsSdes fhaoeSm deeciatocph.lioscdp ths t iweee rste na iue r aneofn soi de eyisemh nd,ehg ienchcwrnedscaanwhstw eninatrnhpr huuerted .xer biadiotsiaeoes v tptnhtiteh sc Todetona heh orrmdneeosata nant aca ete t vyu yi dlefetoh css erlu ar rphybd sattahfeptewpierv
aawcr n np el’iaheeb“ wg ro•nai‘e t icfdkpsnaftH iTtae io i hsa iknosp nateoec x edefxlcocc rw i . nr?pmardyog e e wys,e leoo aknmt id”oSlc alelhrw,ayctiueoenaaelhf
Please enable JavaScript to view this content.
This feels like a huge waste of money. We need better wayfinding for existing parking and we need to encourage consolidation of parking to garages, but quantity certainly isn’t an issue. 27% of the most valuable land in all of Marion County being dedicated to the lowest-value land use is absolutely nuts. If there’s anything we should be studying, it’s the opportunity cost of lost property and income tax revenue by not aggressively developing these parking lots into housing and commercial space.
For example: The parcel at 350 Massachusetts Avenue has an assessed taxable value of $5.3 million ($3.2 million in taxable value per acre). It’s not a large building, a simple 4-story structure that was constructed in 2015.
The lot immediately across the street, 363 Mass Ave, is a surface parking lot. It has a taxable value of just $530,000 ($143,343 per acre).
Downtown is a highly valuable resource that is vital to shoring up our tax base and we are wasting it on parking.
Oops, my calculations were backwards. The parcel at 350 Mass Ave has a per acre taxable value of $8.6 million and the parcel at 363 Mass Ave has a per acre taxable value of $2.03 million. Regardless, I still stand by my point.
AR, think to the next level: parking doesn’t exist in isolation. It’s there to support other downtown property uses, especially large shows, games, and events. The value to the City as a whole is greater than its AV and property tax.
For example: if there weren’t several thousand parking places near the Murat Shrine/Old National complex, would people who don’t live within walking distance drive from other parts of the metro area into downtown for dinner and a show? The restaurant building owners and operators as well as the people who work there pay taxes generated in part by the accessibility parking provides.
Your calculations ignore that second-order value of the parking spaces (on the street and in parking lots).
Yes, there are some perverse incentives at work here rewarding owners of parking lots in highly desirable urban areas with much lower tax rates. It encourages property owners to hold on to parking lots for decades waiting for that killer land deal.
How about that! It was The City’s brilliant idea years ago to build affordable housing on parking lots and remove the requirements for spaces in an effort to push walking and cycling in downtown. Did they not see this coming? Once again… failed policy.
Most of the new residential built downtown on parking lots has been market rate rental housing. See: Market 360, the Milhaus apartments east of there, the apartments at the foot of the Regions Bank Tower, etc.
I don’t think the city has said downtown is short of parking. They don’t know, hence the study. If it’s going to be like last time, they will find there is an excess of parking, and the current policies will stay as is, or even get a little less stringent.