Parking fees in Woodstock are being reduced in the downtown core
Council in Woodstock has approved a temporary amendment to reduce parking fees for new residential developments in the downtown core, aiming to encourage more housing construction in the area.
Under Chapter 504 of the City’s municipal code, developers must provide a set number of parking spaces based on the number of residential units or hotel rooms in a project. When those requirements can’t be met, the city allows a cash-in-lieu payment to offset the shortfall.
The newly approved amendment lowers that cost and gives developers of larger downtown residential projects the option to seek relief for up to 10 required parking spaces. The move is intended to reflect the abundance of existing parking downtown and align with council’s strategic goal of promoting residential intensification in the core.
Officials say the change strikes a balance between supporting new development and ensuring downtown parking remains sufficient for residents, visitors, and businesses.
The amendment will remain in effect until April 6th, 2026, providing planning staff time to complete a broader review of parking requirements for downtown residential projects and determine whether permanent changes are warranted.
