Unbundle Parking from Unit Cost
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Description
- Selling or leasing parking spaces separately from the sale of each residential unit can lead to lower rates of vehicle ownership and be used as a selling feature in an area well-served area by transit and/or cycling infrastructure.
- Unbundling parking supports a “shared economy” where vehicles are shared by multiple users such as a carshare service.
Guidance
Option 1:
- Unbundle the cost of parking from the cost of the unit.
- Review additional parking reductions on a case-by-case basis with City staff by implementing additional TDM initiatives.
Option 2:
N/A
Development Review
- The applicant shall submit a letter of undertaking or include unbundled parking in the applicable development agreement.
- City of Vaughan staff shall review the service agreement and provide a recommendation for either approval or modifications to meet City requirements.
Monitoring and Reporting
- N/A
York Region Required
No
Category
Parking
Character Areas
VMC
Group 1
Group 2
Other Zones
Land Uses
Residential
Effectiveness
3
Typical Cost
Design Costs
Points
5
Additional Resources
- N/A
Development Engineering