Efficient parking tends to be challenging in most large cities in China. Drivers often spend substantial amounts of time looking for parking lots while driving at low speeds, thereby resulting in interference with road traffic. This paper focuses on efficiently allocating parking spaces to the demanders. A double-objective model is proposed that considers both the utilizing rate and the walking distance. First, managers want to utilize parking resources fully. Therefore, they tend to prioritize the efficient distribution of parking spaces in response to parking demands. However, demanders typically choose parking spaces according to convenience. The second objective is the acceptable walking distance from the parking space to the destination. The particle swarm optimization (PSO) algorithm is used to solve this model. We collected parking demand and supply data in a central business district (CBD) of Harbin in China and evaluated the feasibility of the model. The results demonstrate that the proposed model increases the occupying rates of parking lots in residential zones while decreasing the walking distance. The shared use of parking spaces maximizes the utility and alleviates the shortage of parking spaces in downtown.