Good luck finding a spot in that $10 parking lot

It’s one of those mornings: you wake up and find the dog has chewed through your shoe, your kid barfs and the coffee machine is broken. "Forget the TTC," you think. "I’ll just drive and park in the private lot beside work."

As you pull in, you see that little cardboard sign in the window of the operators booth. Normally, it says $10. Today you stare through your windshield at a bright red $25.

What the blazing asphalt?

Parking at Frank’s Valet lot near George Brown College is $10 every day. Municipal parking at Dundas Square is always $19. But downtown lots in between can range from $10 to $25 depending on … the weather? The operator’s mood? Astral alignment?

“It’s all supply and demand,” says Hercules Modopoulos, president of TargetPark, which operates about 50 lots in Toronto.

At their lots on King St. daily prices can range from $10 on Mondays and Tuesdays, to $15 on Wednesdays and Thursdays, to $20 over the weekend. But Modopoulos says those rates are stable from week to week.

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This Toronto parking spot costs $100,000 a year

You’re not a world class city, it seems, unless your parking spot costs more than your car. So Toronto, get set for the $100,000 parking spot.

Parking at new condominium projects has risen steadily in the city, quietly hitting a new high-water mark with the slate of ultra-luxury condominium projects.

The new $100,000 price point, almost certainly the highest in Canada, has caught the attention of the real estate community. It has also underlined the dramatically increasing cost of parking downtown.

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