Below-market condos may get parking cost break in San Carlos

By Ryan McCarthy : smdailyjournal – excerpt

Buyers of below market rate housing in proposed San Carlos condominiums will pay $220,000 for a three-bedroom unit — and may get half off the cost of parking spaces expected to sell for up to $75,000 each.

City planning commissioners meet again Monday about the five-story, 35-unit development at 626 Walnut St. but the municipal staff recommends continuing the matter to allow more time for review of parking costs for buyers of the four below-market units.

At the Planning Commission’s Jan. 21 meeting, Chair John Dugan said below market rates should apply to parking as well as housing.

People who need such affordable housing don’t necessarily get to choose where their jobs are located and work might not be on a Caltrain line, Dugan said.

“I bet more times than not they need to drive,” he said.… (more)