So, what exactly am I looking at?

North Hollywood area for shoppers or residents that is near a metro station I’m guessing.

Noho Commons is one of those “transit anthills villages” with mixed use retail/residential where the theory is its both a place to live close to transit and be a destination for shoppers. The problem lies in that being close to transit its easier to park there, more or less for free rather than pay to be in a pay parking lot for the transit folks. Hence the sign, come spend your money just don’t hog our parking so you can ride the metro.