As cities try to discourage car use, investors see greater redevelopment opportunities for parking lots and garages. : Investors are increasingly targeting parking lots for potential multifamily redevelopment, especially in urban areas, according to industry sources. “Given the multifamily market has been so strong for the past decade, we’re at a point that really justifies development,” says Rob Goldstein, assistant portfolio manager at CenterSquare Investment Management, a global investment manager focused on actively managed real estate and infrastructure strategies. “We’ve seen debt costs decrease and demand and rental revenue increase.