05-12-2016, 10:43 AM
(05-12-2016, 10:22 AM)MidTowner Wrote: I didn't know that about City Centre. I've never seen a development break out the cost of a parking spot, and I think it's a shame. It should be advertised clearly based on the real market value of the space.
Yeah, I haven't seen that either, yet. At City Centre, I had to ask pointedly. None of their materials showed the discount.
Another issue is that, at the current parking minimums, parking is not yet a scarce commodity. There's somewhere around "just enough" parking supplied on site and so no one has to think about it too hard. At that availability, there isn't an incentive to the developer to charge the full cost of the parking space, nor is there much competition for them. Until there is something of an open market for parking (which can't happen until after the City stops compelling a minimum supply, deflating market prices) we won't see parking broken out of condo pricing in an upfront manner.