Parking. It's a problem nearly as old as the automobile itself. As city rents rise, developers are under pressure to maximize yields from their real estate -- and this has been squeezing out the traditional parking lot.
The twentieth century solution was the multi-story car park. But that has its limitations. Because of the ramps, elevators and maneuvering space, each floor has significantly less storage space than a flat lot. And that means fewer cars and less revenue.
For some people, multi-story car parks are a source of dread. Never mind the obvious safety issues -- how many celluloid kidnaps, murders and robberies have taken place in dimly-lit multi-story car parks? -- many people don't like car parks because they're terrified of denting their fenders or scratching their precious alloy wheels. Read full article »