Prepare for fundamental shifts in parking demand
The parking industry faces a particularly uncertain future given the potential for wide-scale adoption of AVs. Estimates of how much parking demand will decrease vary, but studies indicate that demand will ultimately decline. Given this likely outcome, Louisville Metro needs to plan for a future where our current parking stock exceeds demand. This change will bring challenges and opportunities as substantial sections of our neighborhoods and commercial districts could be completely redefined.
All new parking facilities should be constructed so that they may be repurposed, unless architecturally unfeasible.
Prepare for a potential reduction in parking, based on different levels of AV adoption, and how that will affect revenues and operations over the next 20 years.
Update zoning and other development regulations to reflect the changing demand for parking