How COVID-19 could change the future of parking
Across the country, parking lots — once bustling with shoppers, workers, and cars inexplicably parked at a diagonal — have become ghost towns.
With businesses shuttered and many people working from home, demand for parking is down 90% since mid-March, according to data from the startup SpotHero. This decline has hit every sector of the industry, from airport lots to privately-owned residential spaces.
But even in good times, it’s also an industry riddled with inefficiencies. Vacant and underutilized parking spaces have long predated COVID-19.
With lots across America feeling especially barren, some entrepreneurs are seizing on this moment to reconfigure the market — and, in some instances, create entirely new use cases for giant grids of pavement.