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Old Posted Mar 20, 2015, 3:14 AM
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wburg wburg is offline
Hindrance to Development
 
Join Date: May 2007
Posts: 2,411
Along 7th Street, half a block north of the recently completed building at 7th and G, in what is now a parking lot (and the former UP alignment before the tracks were moved.) A block or two from the proposed courthouse site.

Korey: Lots of vacant storefronts can mean lower rents if the buildings aren't brand new, but a bank is less likely to support the idea of new commercial spaces if there is already a lot of vacancy, as they want to ensure that the spaces are rented at a rate high enough to justify new construction. And the problem right now is that a lot of old buildings that ordinarily couldn't justify high rents are being offered for higher rents, meaning they're likely to stay vacant, and tenants willing to risk those high rents are less likely to make it in the long run if the business isn't highly profitable.
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