Parking Subsidies In Memphis

What’s $8.73 million between friends:

Loeb’s planned $19.2 million renovation of the square’s mostly vacant, century-old commercial buildings would reveal their exteriors to be art in themselves.

Behind the historic buildings would rise an $8.73 million, city-built facility that parks both cars and stormwater. Above, three levels of parking; below, a basin to keep floodwater out of Midtown homes.

Again, why? No reason there shouldn’t be parking structures near buildings if there’s demand for them. But if there’s demand, then you don’t need a subsidy to build the garage. If you’re building more parking than there’s unsubsidized demand for, you’re creating extra air pollution and traffic congestion.