Parking spaces in above-ground buildings cost around 35,000 fr/pl. whereas underground, the figure is twice as high. With the 17 million euros earmarked for the municipality in 2018, it could itself create up to 500 spaces, harmoniously integrated into public buildings or housing units. By making an investment rather than an expense, we would not only have one or more buildings that could be converted over time, but more importantly, the City would be able to collect the parking revenues. The 600 places in the counter-project are within the reach of the local authority’s budget and offer a good return. What’s more, the 200 surface parking spaces we’re keeping will cost us nothing!
On the other hand, implementation of the initiative would mean handing over the parking lot to a private developer, and would therefore be subject to the 2018 agreement. An updated estimate of the costs to be borne by the municipality puts them at at least 9 million for the first 10 years (participation in construction costs, relocation of underground infrastructure, site support measures and 10-year deficit guarantee), to which should be added the unforeseen costs of archaeological excavations, pollution clean-up and other surprises. What’s more, over the 70-year term of the building lease, the effective loss of parking revenues in the downtown area amounts to 140 million euros, without indexation.
