Written by: Sofia Nolasco leads B2B marketing at WhereiPark, supporting real estate partners and businesses in monetizing underused parking assets. With a strong background in content and digital strategy, she helps communicate the value of flexible parking solutions to asset managers, developers, and operations teams across North America. Her work bridges the gap between property owners and drivers, with a focus on performance marketing, storytelling, and long-term partnership growth.
Edited by: Zarah Mae Torrazo is the Head of Content at Spacer Technologies, where she leads content creation for Parkhound, Spacer.com, Spacer.com.au, and WhereiPark.
With nearly a decade of experience in digital content, Zarah specializes in crafting engaging, SEO-optimized writing that bridges both B2B and B2C audiences. Her work spans a wide range of industries from real estate and finance to mobility, health, and tech, with a focus on turning complex ideas into clear, actionable insights.
At WhereiPark, Zarah writes extensively about multifamily property management, urban mobility trends, and the monetization of underused assets like parking. She’s particularly passionate about the sharing economy and its power to reshape how people and businesses access space, transport, and opportunity.
Reading time: 4 mins
A 2023 study revealed that unused parking added over USD 2 million in unnecessary costs to multi-family projects. These underused parking lots create a significant financial burden for property developers and building owners.
Property developments like Wellesley Parliament Square are no strangers to this issue. This large-scale residential community in Toronto’s St. James Town, by Greatwise Developments needed a solution that would make better use of its parking space.
Wellesley Parliament Square faced a key challenge at 240 Wellesley Street East, one of its residential buildings. The property had more than 100 parking spaces that were going unused.
Jonathan Torres, Parking Administrator of Wellesley Parliament Square, shared that despite being located in a high-density area in Toronto, they lacked both the marketing reach and operational infrastructure to promote and manage monthly parking rentals. This meant that they were missing out on potential revenue due to the vacant parking spaces.
Wellesley knew they needed to address their underutilized parking, but didn’t know how to get started. WhereiPark provided the solution. In just 3 weeks from their first meeting and onboarding in May 2025, Wellesley’s listings went live on the WhereiPark platform.
They started by leasing 20 parking spaces in one lot in their 240 Wellesley property. Within just 1.5 months, all of the parking spaces were fully booked. Due to this high demand, 20 additional parking spaces were listed in WhereiPark’s marketplace.
As of the end of June 2025, Wellesley has 32 active parkers. This gives Wellesley an excess of $50,000 in revenue per year, which is still set to increase when they add more parking spaces to their listing in the coming weeks.
Since partnering with WhereiPark, Wellesley’s problem of unused parking spaces immediately disappeared as they found increased occupancy. This resulted in a new passive revenue stream for them.
The challenge of managing the parking rentals was taken care of as the partnership with WhereiPark required minimal operational involvement. WhereiPark handled everything – marketing, payment collection, and customer support.
Reflecting on the partnership, Mr. Torres said, “It’s been a pleasure working with the team at WhereiPark from the quick email responses to the easy and clear advertisement of our parking garage.”
“This has helped our property with filling up our parking garage and providing another revenue stream. Everything from the beginning to the end of dealing with each client has been simple, especially with the assistance from the WhereiPark team,” he added.
The outcome of the partnership highlighted how unused parking can be transformed into a valuable resource with the right strategy. Kapil Doorkapersadh, Business Development Specialist at WhereiPark, summed it up: “These results reaffirm that underutilized urban parking can be transformed into valuable assets with the right tools and exposure.”
He emphasized that this opportunity isn’t unique to Wellesley alone. “This is the gap that WhereiPark can bring to other multi-family properties,” he noted.
Wellesley Parliament Square is a large-scale residential development project situated in Toronto, Canada. Developed by Greatwise Developments, this master-planned community contains over 2,200 residential units.
Discover how you can generate new revenue from underused parking in your multi-family properties. Partnering with WhereiPark gives you the tools and support to turn vacant spots into active income, without disrupting your operations.
Click here to partner with WhereiPark and start monetizing your parking today.
Sofia Nolasco leads B2B marketing at WhereiPark, supporting real estate partners and businesses in monetizing underused parking assets. With a strong background in content and digital strategy, she helps communicate the value of flexible parking solutions to asset managers, developers, and operations teams across North America. Her work bridges the gap between property owners and drivers, with a focus on performance marketing, storytelling, and long-term partnership growth.
Sofia Nolasco leads B2B marketing at WhereiPark, supporting real estate partners and businesses in monetizing underused parking assets. With a strong background in content and digital strategy, she helps communicate the value of flexible parking solutions to asset managers, developers, and operations teams across North America. Her work bridges the gap between property owners and drivers, with a focus on performance marketing, storytelling, and long-term partnership growth.
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