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Underutilized Basement And Parking Space

Toronto Condo News
Publication date:
November 23, 2022
Article Summary: 

An increasing number of residential high-rise underground parking spaces are going unused, leading to innovative solutions such as repurposing these spaces for storage. In New York City, unused lower-level space is being converted into storage units for a portion of rental fees. On-site self-storage can also be rented to others, with a portion of revenue going to the community. Storage lockers can be installed by management, individual residents, or third parties. In one community of affordable housing buildings, unused basement space was converted into storage units, which were soon filled up with a waiting list. Revenues from the storage fees are used to benefit the community.


underutilized basement, parking space, storage, rental fees, self storage, community, affordable housing.

Source Citation: 
Toronto Condo News
Underutilized Basement And Parking Space
November 23, 2022
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