Parking Maximums: Development Barriers and Opportunities

LEARNING OUTCOMES

• Understand the approval process from a developer/lender perspective, pinpointing key elements and datasets used.
• Identify how developers/financial institutions are preparing for the onset of emerging transportation technologies, which will better inform them on how they should prepare for these changes.
• Explore innovative parking management strategies, from a zoning and financing perspective, that create a more vibrant and equitable community.

MORE SESSION DETAILS

Reducing the parking footprint is key to creating a vibrant, walkable community. While cities are beginning to alter their zoning codes to prevent parking oversupply, developers also need the support of financial institutions to create more efficient development patterns. Cities and developers alike report that lenders and banks are unlikely to finance projects without provisions for parking. These entities are driven by return on investment, measured with datasets based on historic market research, as opposed to the context of individual neighborhoods. Planners must understand the system used by developers and financial institutions to enable more sustainable development, and financial institutions must understand the value in nontraditional development patterns to better serve the market.

This session seeks to better inform these differing sides in an open debate between planners and developers. The outcome of the debate is to inform planners of:
• the organizational structure of the development and lending process;
• the data sources driving investment decisions;
• the comfort zone of financial institutions and;
• strategies to foster innovative parking policies while ensuring financial security.

One side of the panel includes a real estate consultant and banking professional. The other side includes an active transportation planner and advocacy group leader.

Session Speakers

Anthony Jordan
Speaker
Portlanders for Parking Reform
Portland, OR

Jane Wilberding
Session Organizer and Moderator
HNTB
Chicago, IL

Lindsay A. Bayley
Speaker
Chicago Metro Agency for Planning
Chicago, IL

Malek Abdulsamad
Speaker
Compass Commercial

Ranadip Bose, AICP
Speaker
SB Friedman Development Advisors
Evanston, IL