Quote:
Originally Posted by WhipperSnapper
Well, I don't trust developers or the market for that matter to make sound decision on supply and demand. Developers will build no parking as long as they can sell the units and there are always buyers. Understanding, Edmonton's buyers are different from Toronto. It doesn't mean it will always be that way.
The high minimums forced developers to include parking in the purchase price of units. That should have never happened. Parking should have been independently sold from the units. Developers should be allowed to bundle unsold parking units for monthly parking purposes. There are always people that are thrust into having a car and don't have a parking spot or want to own one.
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If you think there will always be buyers, doesn't that prove the exact opposite point? That there's no need to even include parking because it isn't something that buyers care about? We may not "trust" developers, but in this case I'd say we should trust them over government bureaucrats because it's the developers who have big bucks on the line.
Personally I don't think that there's a huge market for parkingless properties
yet and I suspect that many buyers will choose to buy a space along with the unit. But the key word is
choose. I want anyone who doesn't want a parking space to be able to easily get a unit without the extra cost and for developers not to build any more spaces than they think they can sell. But given that building as many parking spaces as they can sell is a great way to make money and building more than they can sell fewer than needed to sell the suites will see them lose money, I trust them to do the right thing.
