05-12-2016, 11:41 AM
(05-12-2016, 10:52 AM)Viewfromthe42 Wrote: Did you get an actual cost comparison, e.g. a one-bedroom advertised as $220K went down $30K if parking was foregone?
Correct, upon asking, I was given a number that the price would be discounted. I recall that it wasn't a particularly large number. Maybe 20K, certainly no higher.
Quote:These market issues are why, in my preceding post, I think parking stack/floorplate stack exchanges in condos and aggressive (and rewarded) upfront pushes for no-parking purchasers, all from the very first discussion with city staff, are key.
And convincing the city of that is an uphill battle. The city has a solution in place already: parking minimums. From their perspective, it's already a solved problem.
If we lower parking requirements, but don't facilitate the creation of an open parking market, then you end up with people demanding space for cars, but nowhere to put them, at any price. This is a problem we're seeing crop up in Northdale now.