Thursday, May 13, 2010

What parking really is

If you read Underground garage hits high-tech heights you will be forgiven thinking that the only interesting thing about the article is the technology described therein. However I was floored by the following quote: "This advanced technological solution to what he calls 'this building's tiny footprint' came from Parkway Corp.'s chairman and chief executive officer, Joseph S. Zuritsky, a partner in 1706 Rittenhouse with developer Tom Scannapieco." In Philadelphia, Parkway is associated with commuters looking for early bird pricing and diners who have given up driving around for half an hour and are finally willing to pay upwards of $20 to park. But Parkway is also a real estate development firm, their website notes that:
"Parkway has been in the field of real estate development for close to 70 years. We own, operate, and manage over 100 properties in the United States and Canada including surface and multi-level parking facilities. We have office space and retail space for lease as well as properties available for sale, and co-development."
Cities across the US are only now beginning to realize that parking is not about just parking but it is about asset and land management. It's just a shame that they are far behind the curve of the parking lot companies themselves.

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