This may be a great way to make money (or even “to fund a garage”), but it does not address the reality that Ridgewood DOES NOT NEED A GARAGE, especially this particular garage in this particular location.
Also, it would seem that this solution (while great for private investments) involves Ridgewood selling public property to private individuals.
Besides, if this is so lucrative, why doesn’t the village just retain ownership and rent out the spaces long term (daily, monthly, annually) like they do art the train station rather than the current garage plan to rent out the spaces short term (hourly parking fees)?
Finally, IF the rationale is that Ridgewood needs a three story parking structure due to unmet demand for parking spaces (an untrue premise, but we will assume it is true for this exercise) then this condo/privatized parking plan totally fails to meet its objectives.
This plan would reduce the number of parking spaces by a) building the condominiums in part of the area previously dedicated to parking spaces and b) giving the remaining parking spaces to the condominium owners which they will likely use at a high percentage thus removing them from public availability and allowing individuals to set rates which will result in price uncertainty and inconsistency of available parking.
As an investment model it has certain merits, as a vehicle to address (the imaginary) need for additional parking, it is a failure.
we are being taken for a fools via a one way fail ride via the Pikers ,who will be long gone when this looser chicken comes home to roost every month via deficit performance ,and will also cause urban blight…for what the Greek restaurants second seating dream teams?Pave an abandoned lot..cottage,walnut,,hudson…this towns a looser for residents…