The evolution of KW

[Viewfromthe42]

I'm not sure how you think the parking lot could be changed. The condo fees would go up astronomically if you expect the residents to fund a parking garage. And to what avail? They own the property, the only way that could fly (I think) is if they built a garage and then sold the little bit of land that could be recovered.

A second building on the same property, with substantial underground/podium parking to be shared by the two buildings.  The property is certainly big enough for that.

It's not just the parking, of which only one floor could likely be underground (mirroring the financials that 1Vic deemed acceptable), but also how you handle things in the interim, as those spots are well used, and how you make a final product, because 60-70%+ of the balconies and windows open onto parking. You can't turn that into a podium, lest owners suddenly decide en masse that they're ok living in an enclosed box. That leaves having to have at least a decent gap between Kaufman and any adjacent building, with virtually every owner now having a farther walk to their vehicle (whether protected parking makes up for this, who knows). You would likely also need to acquire the entire property at Victoria and Duke, which is likely heritage protected in some way.

While I agree that it's an incredibly valuable piece of real estate to leave as surface parking, we've also seen the property developed in such a way as to make any alternative nearly impossible, or else so expensive as to make it impossible.