Downtown Victoria's supply of public parking spaces is quickly shrinking as developers convert surface parking lots into homes and businesses.

This year alone some 600 stalls have disappeared throughout the downtown core and the legislative precinct. By year's end that total will rise to approximately 800 stalls with hundreds more slated for the same fate in 2016.

As a result of decreasing supply, workers, residents and visitors can expect incremental rate increases over the next few years, with some downtown Victoria parking lots having already increased daily rates by over 30% since 2013.

While development projects are required to provide parking facilities for their residents and commercial tenants, access for the public is restricted, and more often than not the newly built supply is insufficient to meet demand from within the building.

Take for example the condo development currently under construction in the 700-block of Broughton Street. The surface parking lot on that property contained just under 80 stalls. The project's underground parkade will provide space for 66 vehicles among 84 condos and two commercial units. That, however, is no mistake. It is by design.

The City of Victoria has granted developers the right to provide fewer parking spots than would have been required even a decade ago, all in the belief that commuters will embrace alternatives to driving and vehicle ownership rates among urban residents will decline. Victoria's growing traffic problems and sales of new vehicles, for now at least, suggest otherwise. 

What was a substantial parking lot only a week ago is now a construction site for the mixed-use office, commercial and residential Capital Park project. Development partner Jawl Properties confirms 35 stalls will be allocated for public use as a component of the project's commercial usage. Other spaces will be limited to building tenants and residents.  Citified.ca.

Granted, the cost to build underground parking can be astronomical with some projects having to allocate as much as $35,000 per stall depending on soil conditions and other factors. It is no wonder that given the City's changing attitude towards the ratio of stalls-to-residences and stalls-to-commercial units developers are quick to reduce the size of parkades and pass on the savings to homeowners and commercial tenants.

Alternative forms of transportation and reduced rates of vehicle ownership may be noble goals, but for the foreseeable future Victorians will just have to accept a parking pinch and lighter wallets. C

 Article resources

• Discuss City of Victoria parking issues on VibrantVictoria
• Connect with Citified on  Facebook or like/share this article:
   
• Follow Citified on  Twitter

Retailers flock to View Royal's Eagle Creek Village