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June 10, 2009
Vancouver to limit downtown parking
The City of Vancouver plans to significantly reduce the number of off-street parking stalls in new downtown commercial developments to encourage alternate transportation methods. But Andrey Pavlov, an SFU Business professor specializing in real estate valuation and financing, says the idea of legislating commercial parking space numbers is “central planning at its absolute worst” and should be abandoned altogether. Instead, he says, “if you make a nice city that’s friendly to business, land values for commercial development are going to go up, and then the developers themselves are going to find it uneconomical to build parking spots.” Pavlov can comment further on the city’s proposal, which goes before council on June 11, and suggest more effective alternatives to reduce congestion.
Andrey Pavlov, 778.782.5835; cell: 604.763.3696; apavlov@sfu.ca
The City of Vancouver plans to significantly reduce the number of off-street parking stalls in new downtown commercial developments to encourage alternate transportation methods. But Andrey Pavlov, an SFU Business professor specializing in real estate valuation and financing, says the idea of legislating commercial parking space numbers is “central planning at its absolute worst” and should be abandoned altogether. Instead, he says, “if you make a nice city that’s friendly to business, land values for commercial development are going to go up, and then the developers themselves are going to find it uneconomical to build parking spots.” Pavlov can comment further on the city’s proposal, which goes before council on June 11, and suggest more effective alternatives to reduce congestion.
Andrey Pavlov, 778.782.5835; cell: 604.763.3696; apavlov@sfu.ca