This includes the surface lots that are peppered throughout cities, a vestige of a time decades ago when car ownership had surged and mass transit use had declined. Surface lots bloomed throughout the country, in big and small markets. In Atlanta, a parking lot roughly a 10-minute walk from the Jimmy Carter Presidential Museum and Library has given way to a 16-unit townhome development. “There have been some parking lots in Charlotte that have been operating for decades,” Mr. Levell said. L3 Capital, a Chicago firm that specializes in retail development, bought the site, the last surface lot along Newbury.

Source: New York Times December 03, 2019 17:24 UTC