05-15-2016, 04:54 PM
(05-15-2016, 03:18 PM)MidTowner Wrote: They'd probably build no more parking than people are willing to pay for. It would be pointless to market units without parking if no one would buy them. If lack of parking would prevent a unit from being sold, the developer will build parking for that unit.
IMO you are missing two things:
1) There is a perception that people can deal with parking on their own. This results in people parking in public parking locations and jamming up streets in the immediate neighbourhood. There is a very good example of this when Madison/Revel built a bachelor suite without parking (they were so small that they were exempt from parking) and caused the neighbourhood to be very upset with the amount of parking displaced onto the street. If I understand this particular case made City of Kitchener rethink their parking requirements for small units.
2) Developers largely sell to investors who are not necessarily thinking about their own situation, but that of the future tenant. They will be more inclined to buy without parking if such an option is granted. Partly due to pricing discounts; partly because if the city permits it, there must be a demand?
The city definitely needs to set the rules of engagement with regards to parking. The hand of the developer will not always make the best decisions.