Making your parking lot into a community hangout spot is an unbelievable way to give back to your community – turning it from a place where cars park to a place where your community can connect with one another.

During the pandemic, one of the few positives about urban living was the sudden boom in outdoor dining brought about by local governments relaxing restrictions so restaurants could continue doing business despite social distancing restrictions.

Real estate owners no longer need to operate with empty spaces. Whether it’s a mall, multifamily apartment, commercial real estate owner, etc. If there’s any space at all, it can be an opportunity for ancillary revenue.

A corporate parking program typically consists of monthly parking spaces set up by the company so that their employees have designated spaces to park in when they commute into the office.

PARKING: THE UNDER-UTILIZED ASSET..

The best-case scenario for these contractor teams is when there is ample parking on nearby city streets, or perhaps getting lucky to lease spaces with a nearby building or plaza.