Centre For Local Research into Public Space (CELOS)
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You are on the [How Much For A City Parking Lot] page of folder [News 2007]
For the cover page of this folder go to the posted December 17, 2007
How much for a City parking lot?
Terry Flynn thought that demolishing the Matador Nightclub at Dovercourt and College to make way for a parking lot made no sense. However it seems that City Councillor Adam Giambrone supported the demolition. So Terry wrote him a letter with some calculations:
I am not sure what logical argument can be extended by the City to expropriate a historical building and tear it down for 20 parking spaces on a streetcar line in 2007.
I sense from your comments that the Mayor and City Council have no control of the Port Authority, OMB and now the TPA (a public corporation owned by the City of Toronto). We might be inclined to believe this is the case with the first two but the latter? Is this some sort of rogue organization that you have to lobby the provincial or federal government to get control of?
City Council unanimously supported this? . “A “New” parking lot on a streetcar line”. As Chair of the TTC, one would assume your responsibility is to stand up to what is best for the TTC. Please share your thoughts on how this fits into to the TTC master plan. I live at the corner of Dovercourt and College and I have not observed a parking shortage. Please provide me with a copy of the report or recommendation that substantiates this claim
Also I would like a copy of the TPA’s development plan (business plan) for this location.
But if you must have your parking:
I have done some very rough math on my own. And please we want a discussion – please refute the numbers – unless we have disclosure we can only guess.
Scenario Number 1
Purchase Matador: $800,000
Demolition: $100,000
Asbestos Abatement: $100,000
Paving Striping: $100,000
Electrical Service and Lighting: $30,000
One Pay and Display Machine: $17,000
Total Capital: $1.147 Million
Estimated Annual Income: $146,000 per year
Pay Back in Years : 7.8 years
Cost per Parking Space : $57,000
Scenario Number 2
Install 10 Pay and Display Machines on Side streets: $170,000
Signage: $5,000
Total Capital: $175,000
Payback: 1.2 years
Cost per Parking Space: $8,750
Scenario Number 1: Net Income to City in a 10 year period $313,000
Scenario Number 2: Net Income to City in a 10 year period $972,000
A financially distressed City might choose scenario number 2?????
Maybe use the money that is made off the side street “ pay and display” to help pay the mortgage on the Matador - and do something “good” with it - you did say you were looking for ideas. Or maybe help keep those outdoor rinks open.
The scenario number 2 is a concept that I have given details to Councillor Joe Mihevc on as part of our discussion on the City Financial situation
In the scenarios we use equal net revenue, but what makes the TPA think that people will park in a paid lot when adequate free parking seems to exist on the side streets? I have conducted a number of surveys while walking my dog. Yes I stoop and scoop. At various times of day I can count 20 to 40 parking spaces vacant on Heydon Park, Dovercourt, Rusholme, Rusholme Crescent, and Dewson. I have talked my neighbours, some who are copied on this and they do not see a parking shortage either.
If we look to the private sector to show us the value of parking spot, perhaps a comparable is the Cube Loft (799 College) where a “ready to go “ parking spot can be purchased for $28,500, but the City is thinking of knocking down a historic building to buy parking at approximately $57,000 per space in an area with no parking shortage.
The optics are not good in the absence of any real information or published business plan.