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I live in a metro area of 6.5 million people. The level of condo/apartment tower construction is huge, and is the majority of housing growth in the region. Deve
by snrplfth 10y ago
I live in a metro area of 6.5 million people. The level of condo/apartment tower construction is huge, and is the majority of housing growth in the region. Developers demonstrably do construct parking - even expensive-to-build underground parking - but generally they do not demand to build more than they need. Recently a tower was finished, directly above a subway station, without any dedicated parking for 400+ units. All the units sold, no problem, because those buyers don't have or want cars. Other towers are built with parking, but frequently the minimum required. Indicating that it's not in high demand for that tower.
The cost of building a parking space doesn't evaporate just because it's required by the government. And builders will include parking if it's in sufficient demand, just as they include any other amenity in their buildings.