With an ever-growing vehicle population worldwide, the active use of underground parking space (UPS) is gaining popularity in densely populated megacities. UPS development orienting urban sustainability and resilience has facilitated the compact land use, flexible functional transformation, and reliable disaster prevention. However, the development mechanism of UPS remains unclear, resulting in out-of-order and random utilization of UPS. With the aid of emerging multi-source data, this study analyzed the spatial distribution pattern and driving forces of UPS in Fuzhou. The kernel density estimation results indicate that the spatial distribution of UPS in Fuzhou is highly clustered with a multicentric diffusion trend and is consistent with land use. Also, both underground parking lot (UPL) density and underground parking ratio (UPR) show apparent spatial autocorrelation. Moreover, a geographical detector-based method for the identification of driving forces of UPS development was presented. The results reveal that land use, traffic condition, and subspace development are significant driving forces. The coupling effect among factors is remarkable as well. The findings of this work provide a sound understanding of the UPS development mechanism, which is supposed to be conducive to the decision-making of UPS special planning and subspace planning.