Changes are being proposed to lower the parking maximums for new office and residential developments within the SPI-1 (Downtown) and SPI-15 (Midtown) zoning areas. The proposed changes aim to create a balance between developers’ vision for their projects and residents’ need for a vibrant cityscape that supports workability, retail, and quality of life.
In dense urban areas aiming to capitalize on high-capacity transit and walkable street grids, a reduction in parking caps can be used to promote mode shift, encourage more productive use of land, support affordable housing development, and increase municipal tax revenues.
The proposed caps are rooted in:
- The average office and residential parking ratios currently offered by existing buildings
- Planned office and residential ratios for projects in the development pipeline
- The recognition of the shifting nature of flex work and the reduction in overall parking needed for office tenants.
This change will ONLY apply to new construction. The change is anticipated to be introduced to City Council in July and will go through a full public engagement process before being adopted. The next City Council meeting takes place Tuesday, July 5th at 1:00 p.m.
If you’d like to discuss these changes further, please contact Shayna Pollock.