Quote:
Originally Posted by FactaNV
As an aside, I noticed the Gem redevelopment plan on the city centre page, seems like a bit of a missed opportunity having so much low rise, a parking lot fronting the whole property along the BRT line and from what I can tell, not a single CRU. If you're going to have upwards of 3000 to 4000 people living there, you'd think it'd be able to support a café or a corner store.
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I love the idea of more CRUs everywhere, but it seems like the economics of them isn't shaking out for the best. Lots of empty storefronts in new builds all over the city. I've heard the value of commercial properties hinges on how much rent they're charging, so it makes the owner's books look better to keep the advertised rents high and units empty and hope that a dentist, pet valu, or shopper's eventually moves in, rather than lower rents and let smaller business fill the void. Anyone know if that's close to true?