Time for a Review of Downtown Parking Policies

In the coming months, Calgary City Council will decide whether to conduct a review of their Downtown Parking Strategy. The key issue to BOMA members is the cash-in-lieu of parking program, which specifies how many parking stalls can be built in new developments, and how much developers must provide to the City to build CPA lots. As it stands, the ratio is set at one stall per 140 square metres of office space. However, 50% of those allowable parking stalls cannot be built on-site. Instead, developers must pay the cost of the remaining 50% to the City for them to construct CPA owned and operated parking. The one stall per 140 square-metres ratio, which was set in 1972, fails to account for the changes in the downtown office market since then. This has lead to an under supply of parking downtown, contributing to its sky-high cost. We are concerned that if the situation goes unchanged, downtown Calgary’s competitive position will be harmed.

That is why we submitted this letter to council expressing support for a review, and will continue to pursue this issue on behalf of industry.

 

Image courtesy of franky242 / FreeDigitalPhotos.net

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