Rant: Why does everyone skip the parking ratio math on Denver infill deals?

I keep seeing listings for RiNo and LoHi projects that claim 5 stories with 60 units on a half acre, but the zoning requires 1.5 spaces per unit for residential. That's 90 stalls before you even think about retail, and these sites have maybe room for 40. Am I crazy, or are people just hoping the city blinks first on the parking requirement?

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skyler4321d agoTop Commenter

Ha, I used to be the guy who figured parking would just sort itself out with transit and bikes. Then I actually tried to underwrite a mid-rise in Cap Hill and realized the bank pretty much laughed me out of the room when I showed them 1.0 per unit. The math on these RiNo deals is pure fantasy unless the city quietly kills the requirement, and that's a huge bet to make with construction costs already insane.