by Jason Rupp | NAIOP

For decades, parking structures were treated as the throwaway line in a pro forma — necessary, unglamorous and rarely questioned. That thinking no longer works. As cities densify and mobility shifts, parking is becoming one of the most strategic pieces of real estate on a site. Done wrong, it’s a sunk cost. Done right, it drives frontage, obtains lease premiums and provides future-proof value. The rise of electric vehicles, the push for placemaking and the demand for mixed-use connectivity are rewriting the rules. A garage is no longer just a container for cars — it’s an urban asset that shapes experience, revenue and resilience.