Impark

[SeeGeeWhy]

What is the deal with Impark? They are cashing out like crazy... the latest lot they have up for sale is directly North of where the Bow is going to be, and West of where the Telus building is (4th Ave and Centre St).

Talk about prime real estate! I wonder how much that is going to go for.

Does anyone know what Impark is doing? Are the owners just cashing out and calling it a day, or are they moving onto other things?

[CaptainCrunch]

Originally Posted by SeeGeeWhy

What is the deal with Impark? They are cashing out like crazy... the latest lot they have up for sale is directly North of where the Bow is going to be, and West of where the Telus building is (4th Ave and Centre St).

Talk about prime real estate! I wonder how much that is going to go for.

Does anyone know what Impark is doing? Are the owners just cashing out and calling it a day, or are they moving onto other things?

They're actually going through a huge expansion.

[SeeGeeWhy]

Originally Posted by CaptainCrunch

They're actually going through a huge expansion.

In what markets are they expanding? They have been selling a lot of their assets for commerical development in downtown Calgary for the last two years.

[CaptainCrunch]

Originally Posted by SeeGeeWhy

In what markets are they expanding? They have been selling a lot of their assets for commerical development in downtown Calgary for the last two years.

I think its into the U.S. markets. but I know that they're not packing it in.

[Bring_Back_Shantz]

From what I understand that is what impark does.
They buy up real estate in the form of parking lots, and then run them as such untill they are able to sell them as space for development.
Impark isn't just a parking company, they are a real estate investment company. At least that's what I've been told.

[kdoir345]

Ive actually been told that they dont actually own any lots in the city. Property companies own the lots and Impark is in as manager of the lots.

[Canada 02]

with all the new buildings and condos under construction, I wonder if there will be an excess number of available parking spots in the not to distant future. I know the Keynote Development, for example, has many more parking spaces than condo units, so even if the residents occupy their spot, there will still be stalls available for office, retail etc. Assuming that's the same for all the high rise condos and other office towers, it might be a good move by Impark to cash in on the high property values before all the new parking stalls compete for their business

[Cowboy89]

Originally Posted by Canada 02

with all the new buildings and condos under construction, I wonder if there will be an excess number of available parking spots in the not to distant future. I know the Keynote Development, for example, has many more parking spaces than condo units, so even if the residents occupy their spot, there will still be stalls available for office, retail etc. Assuming that's the same for all the high rise condos and other office towers, it might be a good move by Impark to cash in on the high property values before all the new parking stalls compete for their business

Actually if you view the City's transportation literature from pretty much every year from 1991 onward they actively restrict the number of available parking spaces in the downtown core to force growth in employment in the Downtown core to take the C-Train. While some places will net more parking stalls than before, its being made up with destruction of parking somewhere else downtown (Eg Bankers Court demoed a multi-story parking garage and is nowhere near replacing the spots taken away). The attitude of the city is troubling considering the escalataing cost of parking and that fact that the transit system demand is overcapacity at peak times. Druh Farrell really irked me when she commented negatively about a guy who created a website for people living close to downtown to advertise any available parking stalls they have for rent. She was annoyed that this site promoted more car use. I'd agree with her if daily parking downtown was $10/day or less combined with 4 more C-train lines and better bus service. However the reality today is people are spending an amazing amount of time and/or money commuting related to parking costs or transit/road congestion. Any effort aimed at reducing congestion or commuting costs should be praised.

[Barnes]

Originally Posted by Cowboy89

Actually if you view the City's transportation literature from pretty much every year from 1991 onward they actively restrict the number of available parking spaces in the downtown core to force growth in employment in the Downtown core to take the C-Train. While some places will net more parking stalls than before, its being made up with destruction of parking somewhere else downtown (Eg Bankers Court demoed a multi-story parking garage and is nowhere near replacing the spots taken away). The attitude of the city is troubling considering the escalataing cost of parking and that fact that the transit system demand is overcapacity at peak times. Druh Farrell really irked me when she commented negatively about a guy who created a website for people living close to downtown to advertise any available parking stalls they have for rent. She was annoyed that this site promoted more car use. I'd agree with her if daily parking downtown was $10/day or less combined with 4 more C-train lines and better bus service. However the reality today is people are spending an amazing amount of time and/or money commuting related to parking costs or transit/road congestion. Any effort aimed at reducing congestion or commuting costs should be praised.

^^I believe the lot where Bankers Court is going up was condemned due to structural issues.

As far as I know, Impark does not own the land. For example, the lot on the north side of 6th between 4 and 5th st's is owned by Imperial Oil.

[Locke]

Originally Posted by CaptainCrunch

I think its into the U.S. markets. but I know that they're not packing it in.

As much as we would all like them to.

[ken0042]

Originally Posted by Cowboy89

Druh Farrell really irked me when she commented negatively about a guy who created a website for people living close to downtown to advertise any available parking stalls they have for rent. She was annoyed that this site promoted more car use.

And that's what gets me; the people deciding that the rest of us should take public transit are ones who get parking included with their position. I wonder what Calgary Transit would look like if City Hall employees were forced to use it every day.

[MaDMaN_26]

Originally Posted by ken0042

And that's what gets me; the people deciding that the rest of us should take public transit are ones who get parking included with their position. I wonder what Calgary Transit would look like if City Hall employees were forced to use it every day.

At the very least make them use non secure, heated and underground spots. Let them scramble for a pay per day spot for a year and see what happens.