DougB
Senior Member
Calgary is a tough market. I doubt many investors buy inner city land with intention to operate it as a parking business over the long term. Predicting demand for commerical and residential real estate is virtually impossible given the boom and bust nature of the local economy, so many sites end up as unintended parking lots. That will slowly change as the inventory of underdeveloped inner city land diminishes over the next few decades.Is it boomers that own the parking lots? Or large REITs or corporations who can afford to sit on them for years and years as they wait their turn to have a market favourable enough to meet their ROI targets?