Uber Reduces Need for City Parking Spaces

(p. B8) Landlords battling high land costs are turning to a new partner: ride-hailing giant Uber Technologies Inc.
As urban real estate becomes ever-more expensive, some property developers are shrinking or killing their parking spaces and offering Uber subsidies and other incentives instead.
Developers of shopping malls, stadiums and theme parks, meanwhile, are reimagining their exterior footprints to account for more Uber traffic, playing with new ideas such as widening curbside drop-off areas resembling those found at airports–some with concierges offering beverages–and shrinking parking lot space.
The moves show how ride-sharing is starting to change the way cities and urban landlords think about real estate.

For the full story, see:
ESTHER FUNG. “Dear Tenant: Your Uber Car Is Here.” The Wall Street Journal (Weds., Nov. 23, 2016): B8.
(Note: the online version of the story has the date Nov. 22, 2016, and has the title “Dear Tenant: Your Uber Is Here.”)

Leave a Reply

Your email address will not be published.