Landlords look to the parking lot for new revenue
Minimum parking requirements are coming under increased scrutiny in this age of shuttering department stores and abundant transportation alternatives, and amid the rise of pedestrian-oriented retail and mixed-use projects. Rather than insisting on these requirements (typically amounting to about five parking spaces per 1,000 square feet), many municipalities have already reduced or else eliminated them altogether, or they are considering it. For shopping center owners, these