09-26-2021, 05:58 PM
(09-25-2021, 11:58 PM)nms Wrote: The article talks about this building being the first to not include any parking on site (or in the building). It does point out the availability of other public parking nearby.
Left unsaid is that I believe the developer actually has an agreement with the City to use the Duke St garage. Also unsaid is that the public parking is subsidizing these units which would normally have included parking which would have meant a higher sale price per unit.
Could be one way to look at it. That said, those garages (D&O, Hotel Benton and city hall) sit mostly empty after working hours, when the owners/tenants are going most likely use the spots. Pre-covid, apparently parking was a money maker for the city, so technically not subsidized by the taxpayer. Last I heard, parking is $170/month plus taxes, so if the tenants need 100 spaces spread over the 3 facilities, it works out to $17,000/month and $204,000/year.