Parking and the Future of Mobility

3 CM/LU Pending

Parking often plays a key role in determining what gets built and which projects are financially feasible. So, what happens if some day we don’t need nearly as much parking as developers are providing today? Recent shifts in travel behavior are already reducing parking demand in some places, and some believe that autonomous vehicle technology could drastically reduce the need for parking in the next few decades. Developers could save millions of dollars (and could pack projects with that much more activity and vibrancy) if they were able to trim down their parking supplies even a little bit in the short term. However, even in the most walkable, transit-oriented places, financiers and lessees today expect some parking, and many cities still require ample on-site parking to accommodate high auto mode shares. This workshop will start with a panel discussion featuring people representing the various functions in the private sector that determine what gets built and how. They will share how their thoughts have shifted on the parking question in recent years and strategies they are using to mitigate parking-related risk as they move ahead with projects. Breakout groups will work to generate ideas on how to grapple with these important questions.