...The City Of Vancouver, BC built a 98 unit market rental apartment tower above the new Community Center at Kingsway and Main designed to achieve Leed Gold certification. This building is located in a very walkable area with abundant local services, close to five major bus lines. It is an ideal location to encourage car-free living.
However, the building also has 78 underground parking stalls (0.8 spaces per unit). These parking spaces are unbundled (rented separately from housing units), but priced at just $35 per month, although the cost-recovery price would be about $250, so residents’ parking, and therefore vehicle ownership are still subsidized by about $215 per month. If parking were efficiently priced, apartment rents could be reduced about $200 per month, greatly increasing housing affordability in a city with a severe housing unaffordability problem. ... Todd Litman on Planetizen
Friday, March 19, 2010
at 4:02 PM