Recently, a parking space in Boston was purchased for $300,000. What does this sale say about our transportation future?

Courtesy wbz.com

Apparently no one told the buyer of a $300,000 parking space in Boston that there’s a recession going on. Yes, that’s right – a parking space recently sold in the upscale Back Bay neighborhood of Boston for more than the value of the average American home.

Paying exorbitant prices for a slice of personal pavement might be a growing trend in places like Boston, as the winning bidders for the uncovered, outdoor space beat the previous city record of $250,000 that was set just last year by another space in the same neighborhood. At the moment, Boston might even have New York beat for the most expensive parking space in the country, as a space in Manhattan’s Chelsea neighborhood went for a mere $225,000 a couple years ago amidst some publicity.

The growing trend in the U.S. of “re-urbanization,” a reversal of post-war flight to the suburbs that now sees the middle class re-orientating towards city centers has been seen by many as necessary to reduce carbon footprints and create more sustainable communities. With density as a key mantra of the movement towards sustainable development, apartments and condos appealing to the middle class have been rising in central areas of cities everywhere from Portland, Oregon to Portland, Maine, offering alternatives to the long commutes and reliance on cars that often plague suburban living.

It’s clear that living in more compact spaces and owning only one car may be a price that more people, especially young professionals and empty nesters, are now willing to pay to be closer to work or local shops and businesses. The surging trend has manifested itself in the various urban renewal projects across the country in recent decades, as well as an increased popularity in the planning ideas of New Urbanism for suburban developments.

However, the $300,000 question becomes twofold for those interested in sustainable development – whether people are willing to dramatically reconsider the role of the automobile in their daily lives, and whether re-urbanization will be economically and socially inclusive. Read the rest of this entry »