The Saint Paul Condo Blog

I hear that question a lot from buyers in search of a condo in downtown.  Many people assume there is always parking for every home, but that's just not the case.

With the cost of land in downtown, parking is expensive, just check out www.SaintPaulParking.com to see what I am talking about.  Yes, there are some places that you can find dirt cheap parking, but it usually means walking many blocks to an uncovered parking lot.  Most parking ramps charge in the $150 a month range.

Now how does business parking effect residential parking?  It does, because most residents want 24 hour access to their parking, while working are looking for the 7am to 5pm deal.  Well this creates pressure on the parking for residential buildings.  I have heard from developers that to build a new parking ramp for a condo, the stalls cost about $20,000 each, for a heated ramp.

With this cost, a lot of small, or lower priced condos can't afford to build parking and keep the prices of the homes competitive.  When that happens, you see leased parking.  It's pretty common in Downtown to have leased parking in the $250,000 and under price range.  To give you an example, here are some of the buildings in downtown where you do not own parking.

Fitzgerald Condominiums- No long-term contract, spaces available in the World Trade Center ramp. ($100)

Gallery Tower- Long-term contract, owned by St Paul Port Authority, direct access from ramp to building. ($79)

Irvine Park Tower- No long-term contract, direct access from ramp to building. ($?)

The Lowry- Long-term contract, building access from the Lowry Ramp ($95)

Market House- Association owns ramp, owners can purchase stalls for $9000 ($65)

Produce Exchange- Long-term contract, open parking lot across the street, was once the site of a future condo development ($45-last I checked)

River Park Lofts- Long-term contract, attached to building.  The more upper bracket priced lofts have owned parking ($75)

Rossmor - Long-term contract, open lot behind building.  Same site as Produce Exchange parking ($65)

Bonnie Jean Flats- Two options.  Connected to building with no long term contract for ($85) or across Sibley Street for ($100)  Both options are heated.