An oversupply of parking in U.S. cities has grave unintended consequences, directly leading to "higher housing costs, inefficient land uses, and more vehicle ownership and driving. As such, oversupplying parking harms the environment, reduces housing affordability, and thwarts efforts to improve social equity," C.J. Gabbe, Gregory Pierce, and Gordon Clowers say.
The writers explain a case study in Seattle, where after parking minimums were reduced in 2012, the city was seemingly able to increase housing development projects and encourage modes of transportation other than the automobile. The minimum requirement reduction, in line with the city's comprehensive plan, eliminated on-street parking for multifamily housing in dense urban areas, and dramatically decreased minimums for areas in close proximity to transit options.
When developers are forced to comply with excessive parking requirements, the researchers point out, they lose out on space and funds that could be used to build commercial or residential units. According to Gabbe, Pierce, and Clowers, less parking could mean more housing, and in turn, less incentive for automobile reliance.
https://transfersmagazine.org/magazine-article/how-developers-respond-to-parking-reform/ 
