Quote:
Originally Posted by Geckos_Rule
... a surprisingly high proportion of people are in the older crowd of "we lived in Westlake/Terrytown/Hyde Park, our kids graduated high school and we no longer need 4000 sq feet."
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There should be little to nothing surprising about Empty Nesters, who benefitted from the greatest transfer of wealth and asset inflation any generation has ever seen, being the only ones who can afford wildly overpriced skyboxes and condos. Those people aged out of the bar scene decades ago, by lifestyle and literal age, so they have no interest in a like for like replacement of what was there.
This is how we end up with yet another sterile corporate canyon full of perpetual "FOR LEASE" signs on the ground floor retail, yoga studios, and chain junk like Chipotle.
And to stave off the "well this was the plan for Rainey all along with the upzoning" comments: I'll ask again: Why not pivot to a better plan and have the best of both worlds?!
One does not need a PhD in Urban Planning to recognize when something unique exists, either by chance or plan.
But no, the big money developers only want to maximize shareholder value. Then they'll move on to the next thing to wholly destroy, either here or another city.
Rinse and repeat. Yay progress.