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I think the City's actually pretty progressive in terms of reducing parking space requirements for residential near subways. Its important to remember the infrastructure-related and non-residential market problems that they have to consider. Probably the biggest issue is the fact that...

Yep, you're right. But I have a long and drawn out qualification again. I think this site is a bit more restrictive than typical and the $35,000 rule of thumb would probably be low-balling the cost of parking in this case. Generally speaking, the minimum number of parking spaces needed to...

While that's certainly a logical bit of reasoning, and I'm sure that someone somewhere is pocketing the profit, I can assure you that the rule of thumb for constructing underground parking was $35,000 per parking space as early as 4 years ago. Its one of the many constraints that the City has...

Parking If I recall correctly, the water table is pretty high under that site, which they got around by accommodating parking in the podium. That and most residential developers want to minimise the number of parking spaces they need to provide since they don't make any profit off it. I also...