Quote:
Originally Posted by LeftCoaster
Numbers out of my ass? I do this for a living, I have trade informed pricing from the last 3 months indicating over $100k per stall. You can get it for closer to $70k if the parkade is efficient and the ground conditions are stable, but that sure isn't the case at Gilmore station. These are all just hard costs too, the design and development costs like interest carry and permit fees just add to that.
You haven't been able to build structured parking in a major market in Canada for $30k since about 2010.
You may not value it at $100k, and the rental market may not either, but that is the replacement cost whether you like it or not.
|
Presumably the developer is treating this as a 'loss leader ', as the market doesn't value the spaces at the cost of construction? As Onni are not known as a registered charity, they must get the 'loss' back in the price they charge for the condo units, as another post suggested.
It will be interesting to see if developers risk saving cost, and time, and develop less or even no parking, as they're now allowed to do in the TOD zones. So far there doesn't seem to be anybody building no spaces, but there's certainly fewer proposed for rental buildings in Vancouver.
Prev
Linear Mode
