Even 1 br’s here in L.A. can come with 2 spots…but it’s more of a car culture down here.

Regardless…as much as I’m for cycling/public transit/walking etc…I would have to have a car…and a flexi car wouldn’t cut it either.

In this concept, the parking ratio would be just above .5 per unit, so about half of the unit buyers could have parking on site. I’m in the process of identifying nearby lots (w/i a block of the site) where parking would be available for lease to potential owners.

The 30K is pass long savings on the stall, which would be lowere than the retail price and somewhat lower than the replacement cost

PS, I’ll stay in Belltown. But Green Lake would be great if I worked within walking distance!

The concept isn’t without risk. But if it’s a small number of units and within a block of good transit and services, it sounds very workable.

One of the largest reasons to avoid supplying parking is cost obviously, however if you are going to avoid this cost and then have to charge less as a result it seams to me that it is a bit of a wash.

Granted, there might be a a minor profit, but there is also a lot of added risk. The average condo buyer out there does not think of a parking space as a commodity, that is what a second parking space is for. You can assume that if you offer the option for parking, some will take it, others won’t, but on the flip side, there are a decent number of people who won’t look at the building at all without parking. Personally, I don’t think that the risk is worth the potential minor reward.

Additional bonuses to a parking garage.

1. It is impossible for you to use all the space in a garage for parking. This allows you to move utilities such as meter rooms, water retention vaults, storage, transformer vaults and boiler (if applicable) into those spaces and take them out of the sell able square footage.

2.) I believe that regardless of use you must supply a handicapped stall and entrance, Parking garages are perfect for this.

To say that anyone or even most of the people renting in that area are UW students I would say is a mistake and marketing that direction would be a mistake. In addition, almost everyone I knew who went to UW had a car and those that didn’t lived in frats / sororities.

Additionally, Greenlake has become a virtual breeding ground for the young professional. While many of us would like to rid our areas of “the car” it simply is not a realistic option until the city gets a better mass transit system. Too many of these people must commute to work, whether it be downtown Seattle, or all too often Bellevue and Redmond to Microsoft.

All things to think about, but most of it simply opinion and experience.

That said, there’s more surface parking available in the Green Lake / Roosevelt areas (away from the biz districts) so parking may not necessarily be an issue for potential buyers. And, if someone purchases it as a rental, the most obvious renters would be UW students, many of whom may not have a vehicle.

Though, personally, I’d only purchase if it had on-site parking.