Quote:
Originally Posted by asdfgh
How does the city limit availability of affordable condos downtown?\
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There are plenty of ways that make building densely more expensive than it needs to be. Parking minimums is a big one. If a building's residents live and work downtown, there is no need for 1.5 parking spaces for each unit. Out in the suburbs where space is not at a premium, it is easy to pave a small cement pad and park to your heart's content. But for a condominium, each spot likely has to go underground and costs at least $30,000 each. The city also makes far more property taxes off of downtown residents. When you consider that 100 units stacked on top of each other downtown uses the same amount of roadway, sidewalks, and water pipes as three or four houses in the suburbs, and that those suburban residents use all of that infrastructure when they commute to, work, or shop downtown, it seems like suburban residents should almost be paying people to live downtown, and not vise-versa.
But it isn't so much that the city limits the affordability of condos downtown, but it is that the city allows endless sprawl outside the core. If available land isn't constrained by city limits, of course developers are going to snatch up cheap (by comparison) farm land, build McMansions, and sell them at a large profit margin. If living in Brighton or Rosewood or Kensington wasn't an option, perhaps there would more demand for and supply of downtown apartments.