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Originally Posted by Agent Orange
Good question. While I expect the CBD/LoDo office market to fare better than suburban locations like the DTC, I think the overall reduction in number of workers commuting into downtown each day has got to reduce demand for those parking lots. I could see many of them selling in the coming decade. And since the city hasn't yet expressed an appetite for meaningful zoning changes in residential neighborhoods while prices skyrocket to new levels of absurdity, condos are going to become more attractive, I imagine.
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Hopeful as that may be, let us not forget these are the same parking lot families who've held these lots for many decades, including when they were seldom utilized. When you have no basis in an asset, it's very easy to justify holding it (especially if you don't need or want any more money). I wish I was as upbeat as you because this is an exciting prospect indeed.