Metropolitan areas are awash in parking, which gives the impression that no parking issues should exist at all. However, many metropolitan areas have made a 180-degree turn in their approach to parking. Eleven cities, including Seattle and Lexington, Ky., reversed course in 2022 and switched to parking maximums. This is creating a parking environment in multifamily replete with challenges.
Fewer spaces don’t need to translate to parking problems. Proper management of available spaces is essential to keeping the peace in a community, causing owners, operators and developers to assess ways to increase housing and avoid parking shortages.