Quote:
Originally Posted by cafeguy
There are two types of speculators in this city... those who sit on land and let it fall apart until the neighborhood gets better and those with lots of money who sit on land and propose CRAZY ideas to sell it off.
I wish there was a way to curb speculators of the second sort. It over-inflates land values in a way that makes it impossible for future developers to work with... ie... see Castleway plot on Rittenhouse along with a bunch of plots of land along the waterfront.
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This lot's previous use was as a small railyard. So there are PCB issues hiding underneath that asphalt.
To be perfectly frank, it's gonna take a pretty fair-size project to break even with all the remediation they'll have to do.