Shift Towards Zero Parking in the Multifamily Sector
Parking requirements are changing but not as fast as many of us would like. Speaking of things moving slowly, the commercial real estate financing world moves even slower which means nobody has to do anything today. Moving towards zero parking will be more relevant in cities like San Francisco and other major markets. If for example you’re looking for commercial real estate loans in Las Vegas for a multifamily project this will be less of an issue. When it comes to the lending side, I think that non bank commercial real estate lenders will change their parameters more quickly than traditional banks.
-Adam Horowitz, Principal of Lever Capital Partners and President of the Real Estate Capital Alliance