Peterborough Housing Crisis: Are Parking Restrictions to Blame?
As the housing crisis continues to grow in the City of Peterborough, many local property managers believe municipal parking regulations could be contributing to the problem.
JG Francoeur and Remax Jazz Inc. Sales Representative Michael Dominiguez recently spoke to Global News Peterborough to voice their opinion about the challenges these restrictions pose when developing housing.
According to JG, you need to create three parking spaces for secondary suites – which are often rented by students, people in low income housing and elderly individuals – but none of this demographic even have vehicles.
Michael added that ironically a lot of these renters don’t even WANT vehicles, yet many municipalities still require a certain number of parking spaces in order to legalize a property.
Click here to watch the full video and find out what the City of Peterborough has planned to keep up with Peterborough’s rapid growth.