Quote:
Originally Posted by drew
^ I totally agree. The city needs to start to stand up to building owners who are simply sitting on properties and not developing them.
There should be a new by-law that prohibits any new surface lots in the downtown core, and that also gives all new and current property owners 12 months to begin developing their properties/buildings or forfet their ownership of said property to the city for fair market value.
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Go ahead and tell Hartly Richardson to develope his blocks and blocks of property downtown ..
Any property owner worth anything willl tell you he will develope his property when there is demand. This is basic economics ... demand dictates supply. Not the other way around... except when it involves government financing.
You want to have less empty buildings .. less surface lots??
Here is the formula ... pay close attention.
Case 1) Improve the economic factors ...
.......... companies have increased revenue .. and increased profits .. companies want to capitialize on opportunity and seek to expand operations ... companies want in meet the new demand by expanding.. in order to expand, companies need more staff.. in order to employ more staff they need more space... companies goto the real estate market for that additional space. If there is not space which meets there requirements the company must deside if it wants to develope new space (development)
one more development = one less under-used lot.
Case 2) Improve the economic factors ..
.............. there is an increase demand of labour (ie: people willing to work for those who find economics too cold) .. increased demand of labour drives up the level of commericial activity (adds more demand for retail) .. more demands further increases the demand for more labour ... once the demand of labour exceeds supply of labour the price of labour increases (wages go up). As more people are earning a better wage they will be in a position to live in better housing. This will increase the demand for housing. Increased demand for housing will attract businesses who recognize this demand. If the demand is high enough there will be development of new housing.
one more development = one less under-used lot.
While this is the extremely.. very simplified version of how development occurs in the real world .. it does the reflect reality of economics.
Its not forcing investors at gun point .. it is drawing out the money through improving the economic conditions which allows for a profitable investment. The sooner you guys realize this, the less fustrated you'll be when you walk past the vast sea of surface lots and under-used buildings... known as downtown.
Of course I expect some of you to justify the lack of economic progress .. by saying its good for society.
Socialism is funny.
High taxes and government interferance kills off private investment .. but good for the people??
Maybe .. if surface lots are what is meant by good for the people.
Winnipeg must be very good for the people .. as it doens't interest many investors.