Quote:
Originally Posted by NewIreland
Not from what I've heard. These parkades are their #1 priority right now because they want to use the revenue to finance their other plans. With so much happening in the area, now is the time.
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A new parkade is not profitable today even if the land was free. It must be heavily subsidized. They are only built to support existing (or new) office or residential. Any income would go to paying down a 25 year amortized mortgage. There is no additional cash flow available to finance anything else.
There is inexpensive surface parking on Galt, Edwin and Lily which could be made available for theatre / concert related evening activities whenever that possibility returns.
I just don’t see the economics of a parkade though...
Let’s diarize the conversation and see where we are next year at this time...
Never say never...