Posted Feb 13, 2014, 5:24 PM
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Ferris Wheel Hater
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Join Date: Jun 2006
Posts: 8,371
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Industrial land is often left empty or derelict in order to justify a future rezoning. It's a common tactic and one that works unfortunately. The region needs a ILR and it needs it badly. Once that land is placed in it and can not be removed we'll see much less shenanigans and an improved local economy.
M. Gellar is aware that the projects could still be built 100% market at existing zoning of 1FSR. No one is going to bother developing at 1FSR. Nothing is stopping them for doing it now. You need to get up to FSRs of 2.5+ to make the numbers work. The fact is even 100% market housing would need to be marketed at a discount in that area to attract buyers.
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