[pmuhar]

As in infill developer/builder it has become almost impossible to get anything done lately. Im sitting on a few million worth of properties that Ive purchased that I was planning on splitting and building two new homes on(I should mention they are all on streets where 25' lots already exist), but Ive recently just listed them all for sale as-is and will be taking a break from developing infill until we know whats going on. Its actually quite sad, the homes Ive purchased are garbage and instead of being replaced with new housing stock they will probably just sit there vacant. In my opinion they arent even rent-able. I cant see them selling as-is either unless i slash the prices and take huge losses, as nobody wants to buy them but other developers(whom are also taking a break). Unfortunately the economics just dont support tearing them down and replacing with 1 new one either. With the price of the lots + cost of construction we would have to price $650,000+ which just wont work.

Anyway, the city is choosing to side with the residents which is fine, I just hope they realize they are losing millions of dollars of investment, confidence of developers, and will only learn their lesson the hard way. I should also mention these are the same residents that are going to be crying in 10 years when they want to downsize or sell their homes for retirement but nobody wants to buy them(except developers). Im sure they will be supportive of infill then