Apartment Developers Try to Figure Out the Parking Equation in a World of Fewer Cars

Parking is coming up more and more as a topic when we are working on development deals. The article hit on the biggest change which is the local government’s willingness to work with the developer regarding the amount of parking per unit. When sourcing a few commercial real estate loans in Las Vegas for multifamily projects we noticed a flexibility from all the parties to discuss this issue and come to a solution that works for everyone. If there’s a sea of change regarding car ownership in the near future this will make for some very interesting commercial real estate news topics for a while.

– Adam Horowitz (Principal of Lever Capital Partners and President of the Real Estate Capital Alliance)

Click here to read more about how parking requirements are impacting apartment developers.