Quote:
Originally Posted by WarrenC12
Don't tenants pay property taxes with the usual triple net lease?
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Absolutely, but it is included in rent to the landlord. I just don't believe that all of these small landlords along this stretch of broadway would actually pass on the credit from the city. Although more paperwork, the city could issue grants in the amount of the tax to the business, this would also avoid LL sitting hoping for the moon for their empty properties did not receive this benefit as well.
The LL are already experiencing increases in their land values YoY along this stretch. I have also heard a few rumors of LL's asking for large increases on leases that have come due in this area. With that said, I would expect (as long as these small investors are willing to sell) all of these buildings will be demolished in the near term. Would be nice to see some vibrancy come to broadway between oak and main via restaurants/cafes etc. It was the outdoor shops that kept some sort of life in the small restaurants between main and cambie as there was a decent amount of employees going out for beers etc after work.
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