clock menu more-arrow no yes

Filed under:

Arrested Development Put in Park

If the credit crunch is the nuclear holocaust, then parking lots are the cockroaches?lone survivors and ultimate flourishers. Crain's reports that developers of stalled buildings are looking to lease their land to parking operators in order to get some cash flow coming in, reversing the recent trend of parking lots getting bought and closed to build towers. It's even gotten to the point where parking companies are getting picky because of oversaturation fears. Looks like Pearl Street was ahead of the curve on this one. [Crain's]