Despite the extensive attention given to broader transportation planning issues, parking studies have received insufficient focus. While many existing parking studies rely on quantitative data and modeling methods, there is a notable gap in research that incorporates interviews with key stakeholders at the grassroots level to truly understand the nuances of parking management and policies. Parking significantly influences the built environment, travel behaviors, housing patterns, and the overall community well-being. This study reveals the oversupplied parking spaces fail to meet residents’ needs by integrating data from the 2023 Parking Inventory in the University City District and insights from interviews with a city planner, a real estate developer, and a parking lot owner. This paper aims to shed light on this critical aspect of parking policies and propose actionable strategies to address the challenges and opportunities associated with parking.