To be sure, commercial loans in general are incredibly difficult to secure as the Great Recession drags on. But more and more mixed-use builders cannot get banks to finance their projects without a guaranteed number of parking stalls, Redevelopment Agency Executive Director D.J. Baxter recently told the council.

As he unveiled the conundrum, developers Jeff Woodbury with Woodbury Corp., Russ Callister with Mecham Investments, and Tom Guinney with Gastronomy nodded in the background. The builders later said a recent tour of Portland, set up by the city, convinced them that a largely car-less combo of live-work-and-recreate projects could thrive.

But banks, which often sell the loans after a few years, need to ensure whatever is financed is acceptable to the long-term credit market. That way, they don't end up with foreclosures they must unload.

"We're not going to make a loan without getting comfortable with the parking element and the parking strategy," explains Michael Morris, executive vice president of real estate for Zions Bank.

Other factors besides parking ratios also play a role, he says, including the overall economy and the mix of equity and debt.

Construction lenders could be "flexible" and approve transit-oriented projects, Morris says, so long as long-term lenders are content. But he predicts parking at housing units, regardless of location, likely will remain a premium.

"I don't know if public transportation or fuel efficiency or the green movement is going to change that in the near term," Morris adds, before pausing. "As a corporation, we're open-minded and will participate in the dialogue. And we'll do what makes sense."