Inelastic Development

The difference in inelasticity can be attributed to factors that include transportation options and variety of land use. That means when local regions feature more bus stops bike lanes, or access to Light Rail. The individuals in these regions are more likely to either already use these forms of transportations; therefore they don’t utilize on street parking to begin with. Furthermore, in regions with mixed land use individuals are unlikely to utilize a car to commute. Conversely, communities that feature primarily apartment development will result in elastic development to a price change. These individuals commonly own automobiles and require may require on-street parking for their needs. I believe the parking demand for South Lake Union would feature an inelastic demand to a raise in the price of on street parking. The region features improved public transportation thanks to Amazon’s development of the local sidewalks and bike lanes. Additionally, the limited parking which is available is already incredibly expensive. In conclusion, I believe it’s more likely we’ll see an inelastic decrease

A good number of the individuals that consider the $1 charge worth it would still utilize the Park and Ride at the $5 charge. For them it’s not an option to switch forms of transportation. First, minimum parking requirements address the peak parking requirements observed for the region. The requirement address the minimum required amount of parking for the region to ensure the business, residential, or government complexes will be able to accommodate the anticipated number of vehicles. Second, the Restricted Parking Zone (RPZ) is designed to restrict parking to those who purchase a permit. This limits parking to local residents or business employees. Performance-Based Parking, addresses the additional parking needs during peak