Quote:
Originally Posted by logan5
If a property sits in an area zoned for say FSR 6.5 tower form, then that property is going to be priced for that density. You wouldn’t buy that piece of property at that price, then build a smaller, lesser density building after paying a premium price. I would say that more than most properties zoned high density will end up high density.
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The Broadway Plan allows a developer to rezone to higher density, but until a site is rezoned it can only be developed to the zoned density. While there will probably be speculative valuations that anticipate rezoning, it's not a given. And of course, plenty of projects have been built to existing zoning recently, which makes them unlikely to redevelop to higher densities, even if the plan allows it. For example,
MingLian's 'Duet' is just starting construction at 3.3 FSR on the corner of Spruce.