Vancouver Could Remove Parking Minimums for Condo Developments

Sam Cooper reports on an announcement by the city of Vancouver that they are beginning the process of determining how to remove minimum parking requirements for some new condo developments, similar to actions recently taken in the city of Calgary.

According to the article: “Vancouver has minimum parking requirements for residential buildings, but city staff are ‘exploring (no-car condo) opportunities in line with what Calgary is looking at,’ a spokeswoman said Thursday.”

The Transportation 2040 plan, adopted by the city in 2012, “provides guidance to eliminate parking requirements downtown and near rapid transit stations,” reports Cooper. Any new condo developments without parking minimums would be the first under the plan’s guidance.

The city is considering removing parking minimums as a spur for more affordable housing. In Vancouver, Cooper says, “Removing underground parking can slice about $40,000 off the price of a unit…”