Quote:
Originally Posted by aberdeen5698
If you assume that each garage level can accommodate about 500 cars, that's about 3,000 cars for the whole structure. At the going rate of about $20/day for the JetSet and Value Lot long-term parking, that's about $21 million/year - call it $10 million a year at half occupancy.
If it costs $50 million to complete the structure, then it's a 5-year payback, which doesn't seem bad at all. Of course I have no idea if the $50 million is anywhere close, and if they steal all the cars from the other long-term lots they'll loose whatever revenue they're getting from those operations.
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And yet YVR put it out to the community for ideas even if the financial case isn't that bad as you point out. Its not surprising given how high costs squeeze residents that demand for parking personal vehicles is lower than they thought.
Why not move all the surface long terms lots into these structures? The Park & Fly lot is adjacent to Burkeville, why not build housing there (although I'm sure there's some ridiculous Transport Caada regs barring that).
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