Quote:
Originally Posted by the urban politician
Development will still happen. Even these starry eyed losers will have to take developer money, they don’t have any other source of income. Being a socialist in America is a dead end career.
But things will indeed slow down and yes, landlords will simply face less competition from new construction leading to rent increases and further displacement.
I don’t think Milwaukee/Belmont is that much to get excited about, though. No L access
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They won't take the money, just look at Rosa, he simply shut down all development in his ward including completely reasonable proposals where he would ask for tons of affordable housing which the developers would agree to and then came back demanding more parking too which what physically impossible to do without going to 4 floors. It's just a three ring circus so why would anyone even bother?
Look closer, Milwaukee and Belmont is 1/2 mile from 3 different Blue Line stations and two different Metra stations (on different lines to boot). It has better transit access than where I live around Central Park and Milwaukee. The only reason it feels like a transit desert is that it's a total pedestrian wasteland consisting of vacant lots, strip malls, abandoned auto shops and small box stores, with literally nothing of interest to pedestrians in the area. Belmont is already on fire with small scale development between here and the Belmont stop (which is also being massively upgraded) it's literally the next stop for everything that has been going on South of the square.
All I have to say is "all aboard the gentrification train!" because what has already been a pretty bad situation in terms of displacement is about to get a whole lot worse.