This article was produced by Metropolis.
Reimagining parking assets represent a massive opportunity for landlords to unlock net operating income and improve tenant experience.
And it’s 14 percent of the surface area in some major cities: Parking. It represents the last bastion of non-institutionalized, underdeveloped, underutilized, and under-monetized U.S. real estate.
These assets often plague real estate portfolios with inefficiency, ineptitude, cash leakage, operator complacency, and even theft. On their best days, legacy parking operators are high-churn staffing agencies that steward over the same ecosystem of costly, fragmented hardware.
At Metropolis, we’ve paired a modern computer vision platform with reliable, vertically-integrated operations. This approach aligns all the pieces of the messy parking world so that the consumer finally has a seamless and convenient parking experience, while you — the landlord — get a clear view into operations and a more profitable asset. Our partners include Starwood, DivcoWest, AvalonBay Communities, and Lincoln Property Company.
At a Metropolis-enabled parking facility, the parker simply drives in and drives out — that’s it. No tickets, no cash, no fumbling with multiple apps trying to prove that you already paid, no driving around aimlessly, and better yet, no sitting in traffic behind others searching for parking. Metropolis removes the barriers between drivers, parking operators, and real estate owners to deliver a remarkable experience. We’ve literally made parking as easy as requesting an Uber.
And, parking is just the beginning. The Metropolis modern platform helps real estate partners future proof their assets.
Parking is the foundation for advanced, urban mobility. As people change how they get around, so too should parking assets be ready to meet their changing needs—be it electric vehicle charging infrastructure, fleet management, or last-mile logistics & transport. Your brick-and-mortar assets can be made ready to accommodate future mobility trends without having to make expensive bets on any one mobility mode.
Are you interested in learning more about optimizing your parking assets? Our exceptional team of operators, designers, and technologists build the future with our real estate partners. Join us.
