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Unparalleled Perking

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"At Elliott-Chelsea Houses, the parking lot brought in only $1,396 in parking fees last year. But residents described it as more than the sum of its 42 spaces." Such is the plight of parking lots and other "underutilized" areas that are part of public housing projects but that the city believes can be put to better use as affordable-ish new developments. This Chelsea lot, for instance, is trading hands for $4 million—a sum it would take only 2,865 years of parking fees to match. [NYTimes]