Hipster Duck
Senior Member
Not sure if this belongs in Transportation or Toronto issues...
I've been thinking about ways to reduce car reliance and use in Toronto and also to move away from mandating developers to build X number of parking spaces in a condo or office development.
Similar to cap and trade, but more easy to quantify, the system would involve the city designating a certain maximum (but no minimum) threshold for parking spaces in a new condo or office development that would be far lower than the status quo. Developers who feel the need to build more than this set quota would then buy the rights to more parking from developers who build less than the maximum spaces in the parking quota. The City would play no role except to set the quota and regulate the transaction; all the earnings would go directly to developers who choose to build less parking and sell their remaining rights. This is a measure that can be taken that reduces car use in the city without resorting to a government-imposed punitive action. Since it opens up a new way of legitimately earning money, it's not something that developers will balk at and, even if the city doesn't earn a red cent, it saves money in the long run from not having to build an infrastructure that caters to as many cars.
I've been thinking about ways to reduce car reliance and use in Toronto and also to move away from mandating developers to build X number of parking spaces in a condo or office development.
Similar to cap and trade, but more easy to quantify, the system would involve the city designating a certain maximum (but no minimum) threshold for parking spaces in a new condo or office development that would be far lower than the status quo. Developers who feel the need to build more than this set quota would then buy the rights to more parking from developers who build less than the maximum spaces in the parking quota. The City would play no role except to set the quota and regulate the transaction; all the earnings would go directly to developers who choose to build less parking and sell their remaining rights. This is a measure that can be taken that reduces car use in the city without resorting to a government-imposed punitive action. Since it opens up a new way of legitimately earning money, it's not something that developers will balk at and, even if the city doesn't earn a red cent, it saves money in the long run from not having to build an infrastructure that caters to as many cars.