Parking Spaces of the Future – Developers are monetizing empty parking areas even as they build adaptable new ones for fewer drivers.

Ken Veltri recently found $1 million, just sitting in the parking garage of one of his apartment buildings. As head of asset management for AMLI Residential, Veltri’s job is to maximize the value of the firm’s 75 properties in nine U.S. markets. So when AMLI’s 293-unit South Lake Union property in Seattle consistently reported a surplus of about 20 unused parking spaces, he sought a way to monetize those vacancies.

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