Quote:
Originally Posted by Migrant_Coconut
And has evidently had no problem getting people to pay for fewer, more expensive parking spaces.
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I can all but guarantee that 89% occupancy is probably a 10% miss on proforma occupancy (before considering PSF rents), which will likely mean a 10% miss on building valuation and therefore a significant decrease (if not a complete wipe out) of any development profit. If you want more density, you need developers to make enough money to offset their risk.
I agree that the market will eventually guide developers to the right amount of parking. It's my view that a lot of the broadway plan submissions that have no, or very limited, parking will have issues leasing up.
I commute to work most days but still have a car and you'll have to pry that from my cold dead hands. In my view the best part of living in Metro Van is the mountains and outdoors which are still too difficult to access efficiently without a vehicle.
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