“Building new parking in Center City just doesn’t make financial sense anymore,” writes Meir Rinde, citing development experts familiar with the Philadelphia market.

“Developers are moving away from the parking business because of the city’s high tax on commercial parking spaces and a strong market for new buildings,” adds Rinde. The source for these insights: Brian Berson, who leads real estate and development efforts for Parkway Corp., a “Philly-based parking and real estate giant.”