Quote:
Originally Posted by the urban politician
So parking lite development has already caught on for rentals in Chicago.
The question is, will condos follow suit?
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Two big differences:
No one ever has to worry about getting out from under a rental unit, so they can make decisions based entirely on their current needs and lifestyle, rather than (folk wisdom about) future resale value.
Second, I think it's still safe to say the condo market looks more to empty nesters and mature adults who may have car storage needs for various reasons.
The TOD ordinance may give developers relief from required parking ratios, but in this town you can be sure developers will only build what sells.