How Property Owners Are Reducing Parking Requirements

Henry Finkelstein is a partner at Greenberg Glusker.

LOS ANGELES—Los Angeles, as a city, is (very) slowly moving away from cars. Uber, driverless cars and more public transport are all part of the push for less driving. While we are a long way from bulldozing the freeways, property owners are finding ways to reduce parking or build parking structures that can be converted to new uses in the future. This is true for property owners across product types, from multifamily to retail and office. To find out what property owners are doing to reduce their parking requirements, where this is becoming popular and if it is premature to start talking about a car-free Southern California, we sat down with Henry Finkelstein, a partner at Greenberg Glusker, for an exclusive interview.

GlobeSt.com: Why are property owners looking to reduce parking requirements?