Im not surprised it exists, but very cool indeed. Apparently it even learns a drivers drop-off and pickup habits and shuffles cars for fast retrieval. But the context of the story is that a contract expired between the city and the garage operators leaving cars locked in the parking lot for days :D
http://www.wired.com/news/technology/0,71554-0.html?tw=wn_index_1 (http://www.wired.com/news/technology/0,71554-0.html?tw=wn_index_1)
I have seen simmilar ones discuss before from Japan http://www.techeblog.com/index.php/tech-gadget/automated-japanese-parking-garage
Very cool, until you get into problems like what was in the story you linked too.
These are very cool to see in action, it's like a vending machine...but for cars!