Quote:
Originally Posted by dtsd
$1 billion is nothing to sneeze at, but in major US cities that's not considered a boom; and considering the (unfortunate) general lack of high rises going up, it's hard to think of it as a boom in GR either.
It really is a shame GR developers have been so timid while urban developers in so many cities across the country rode the national urban housing boom, putting up condo tower after condo tower - and raked in the dough. Maybe next upswing GR's won't be so hesitant.
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We're talking about Michigan here where the status quo is to let cities rot. A dollars investment in a city is considered a boom here. Needless to say, $1 billion being spent in any single downtown anywhere, I would consider a boom of some sort, especially in a city as small as Grand Rapids. This is just one period. There will be more in the future both larger and smaller than this incriment.