Quote:
Originally Posted by ithakas
Good to see! Seems surprising to see a condo:car ratio below one anywhere in the city. But why drive when you can eat every meal at El Barco?
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Yes, I'm surprised as well to see a sub-1:1 ratio for a condo building, although it's become common in rentals. I'm sure this is being permitted as a TOD since it's within the shed of the Division Blue Line stop.
It probably makes some financial sense on certain sites... you max out the number of parking spaces you can fit on the ground floor, and you max out the number of condos you can fit on the floors above. TOD means those numbers don't have to match up, and the developer can avoid costly structured parking, either above or below ground.
From a sales perspective, though, I can't imagine the realtors are looking forward to selling condos without parking. That's often a tough thing to do, especially outside of downtown... but if there was a non-downtown neighborhood where it made sense, West Town would be a good candidate.
Related question: if they're moving forward on construction, does that mean they've hit a threshold in presales?