Car-rental and car-sharing programs are being advertised by many luxury developers as an amenity to homeowners, and used as a means of lowering building costs.
Some developers are repurposing existing parking areas for their tenants. Miami-based developer Harvey Hernandez worked with the city to allow residents of Centro to use roughly 300 parking spots at a nearby office building that is normally vacant on nights and weekends, per Realtor.com. Hernandez has been able to avert the expense of underground parking, and bring down home sale prices as a result.
“For developers, it’s a drain on economics” to build parking garages, says Todd Runkle, an Austin-based principal at global design firm Gensler, which specializes in commercial development. “We are in a transitory period to see how much we can reduce parking.”
