Why multifamily developers are looking to parking lots
THEINVESTORJLL
The world of parking lots is changing across the globe — and in many cases, it’s making room for housing. As local authorities across the world try to curb car numbers in city centers, parking lots are becoming less important in certain areas, while sitting on valuable — and scarce — land. As a result, they have been selling quickly, especially in urban areas. And with many global cities facing housing shortages, these vacant spaces are often being redeveloped to meet that demand, says Brandon R…