Quote:
Originally Posted by Scottydont
Love these two points. Proposals and renderings are fun and everything, and I myself have gotten caught up in their allure. But if the market isn't asking for height, or if the budgets/investments don't come in, it's irrelevant. If you saturate the area with enough of these projects, you bring more population and income to the area and eventually more density. I would say only once that density reaches a certain mass are you gonna get more dramatic towers. If you look at what is currently at 918 Delware Ave, this is a clear improvement.
|
And even more, what he doesn't understand is that in many cases, the developers NEVER had any intentions of building these projects. To the contrary, they paid for fancy renderings they had no intention of building to upzone the land to make it more valuable so that they could then flip it.
That makes it even more insulting. They knew the projects would never happened. Could never happen. But they juiced the value of the land then off loaded it. If by chance anyone bought the land based on the fake increased value, then if anything, it increased their cost basis and thus, the chances of said project even less likely to happen.