Condo developers encourage buyers to kick their cars to the curb

Some are incorporating parking structures that can be converted to other uses in the future

TRD MIAMI /
Dec.December 07, 2017 05:15 PM

(Credit: Wikimedia, Pixabay)

Developers are increasingly telling buyers to ditch their cars in cities like Miami, San Francisco and New York.

In exchange for discounts, credits, car-rental and car-sharing services, the move saves residential developers building costs since they can reduce or eliminate garages. Some builders are also planning for a garage-less future, designing parking structures that can be easily converted or removed, according to the Wall Street Journal.

At the Zom apartment tower in downtown Miami, 23 percent of residents rent without parking spaces. The Orlando-based developer’s garages are about a third smaller than in its previous buildings. At Centro, a condo tower nearby, developer Harvey Hernandez didn’t include parking at all. Instead, he arranged for residents to have access to about 300 parking spots at an office building nearby on weeknights and weekends.

In San Francisco, Tishman Speyer partnered with Audi to offer a luxury car rental service at Lumina, a 42-story condo building. Units come with one parking space, but buyers can forego the space for a $10,000 credit and the option to rent one of eight Audis from $12 to $22 an hour. [WSJ] – Katherine Kallergis


Related Articles

arrow_forward_ios
Harvey Herndandez

Airbnb settles litigation with Miami development group alleging fraud

Russell Galbut and Harvey Hernandez, with Natiivo

Office condos planned at Russell Galbut and Harvey Hernandez’s Natiivo

Harvey Hernandez (Credit: Airbnb and iStock)

Harvey Hernandez fights back against Airbnb

Harvey Hernandez and Michael Patrizio

Newgard hires Terra exec as SVP of development

From left: Andrea and Renzo Rosso

Diesel family dishes on Wynwood condo project

Harvey Hernandez and BrickellHouse (Credit: Miami Residence, iStock)

Harvey Hernandez reaches settlement in BrickellHouse lawsuit

Construction of downtown Hollywood high-rise may start soon

Construction of downtown Hollywood high-rise may start soon

Jeffrey Epstein (Credit: Daily Beast | Getty)

Jeffrey Epstein commits suicide by hanging himself in his Manhattan jail cell

arrow_forward_ios
Loading...