Quote:
Originally Posted by Authentic_City
Sure, we can quibble over how much money a downtown surface parking lot will generate (50K, 100K, more??), but the fact is, they are a low cost, low tax, revenue generating business that requires virtually no investment. The problem is, once they are allowed downtown, they seem impossible to get rid of because there is no incentive to redevelop or sell. Many owners see it as a long term investment. A lot at Portage and Main adjacent to the Exchange District will be popular. Lots of folks will park in a surface lot before going into a Parkade because it seems easier and faster. This lot will do just fine. I just hope it's truly temporary, but we all know how these things go. Just look at the "temporary" parking lot by Upper Fort Garry Park.
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I agree with you... The best investment downtown is in fact a parking lot! Harvard owns the whole block and the site has been parked for 40 years! At least you will get lighting, drainage, paving and some landscaping on Main Street. Even Centre Ventures owns a couple of parking lots now! The income helps to pay for their office overhead.
On a positive note, a “temporary” parking lot on Notre Dame is about to be rezoned mid September for an apartment Bldg 6/8 floors. Let’s see if the City cooperates or if they really want it to stay parking... stay tuned...