Onsite Car-Sharing Programs Could Lure Condo Buyer

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Real Estate

Some renters and condo owners may be able to ditch their vehicles more easily if other buildings follow the lead of a new car-sharing program set to debut at a residential luxury tower in Chicago.

Vista Tower, slated to open in 2019, is trying to lure buyers with a program allowing residents to access onsite Tesla vehicles located in the building’s private garage. The program’s goal is to help residents reduce their carbon footprint. Residents can schedule a time to use the vehicles via a mobile app.

“The car-share program provides an alternative for residents to travel beyond the local community without the commitment of leasing or owning a personal vehicle,” says Leila Zammatta, senior vice president of sales at the Magellan Development Group, which built the 101-story Vista Tower in downtown Chicago. The tower will be the third tallest building in Chicago once completed.

Some cities are testing more car-sharing programs to help reduce traffic congestion. For example, New York recently announced it would set aside 309 parking spots for car-sharing vehicles from Zipcar and Enterprise. It’s part of a two-year pilot program that is scattered across neighborhoods in Queens, Manhattan, and the Bronx. Officials say they hope the programs will help alleviate parking woes by convincing homeowners or renters to forgo purchasing a car. 

Original Article via National Association of Realtors