Parking problems have become increasingly prominent, thereby seriously affecting the urban environment and traffic order. At present, better utilization and transformation of parking lots and building new lots to vigorously promote the construction of urban underground parking lots are undoubtedly the most effective methods of solving parking problems. This study mainly analyzes the existing problems in construction management, planning, design, and construction of underground parking lots through a typical case investigation on the construction of domestic and foreign city underground parking lots. To address these problems, corresponding development suggestions regarding planning and design proposals, operating model, and investment and financing mode are proposed to guide the scientific and effective development of underground parking lots and solve the urban traffic congestion.