02-28-2017, 10:39 AM
The most recent report I'd been able to find on structured parking costs across north america, a 2017 release, puts costs in the $20,000-35,000 range, with zero profit, so presuming that they are truly trying to fully separate the cost of parking, they'd also need to put equal profit margins on those costs, making it come in somewhere in the $35,000-50,000/spot range. More likely on the lower end, since this will not likely be an underground-heavy parking structure. But if it's lower than $30,000, you know they're having parking subsidized by owners who don't buy it. That said, I still appreciate very much that they're moving in this direction, but with such a costly luxury building, it'll be hard to parse out any true per-unit savings. While the most spartan of 1 bedroom condo units on the market will still top $220K, this building's units will be priced higher, likely so much higher that you would feel you were paying luxury prices even before being told that no parking was included. So I'm supportive but skeptical.