Here's something else to consider. If we're asking folks to pay $300,000 for a studio apartment in downtown Victoria, the end-user buyer in that price range or the tenant able to afford the rent in that price range is overwhelmingly likely to own a vehicle.
I guess what I'm saying is council is trying to make the case that despite the very high cost of real-estate in Victoria, if you're buying a studio for $300,000 you're only an entry level buyer and as an entry level buyer you're unlikely to
a) be able to afford a vehicle and
b) have no need for a vehicle, hence your decision to live in a studio apartment in downtown Victoria
But they're forgetting that our entry-level buyers would be considered upper middle-tier buyers across 90% of the jurisdictions in this country.