Quote:
Originally Posted by biguc
It is elementary, which is the whole point.
Edit:
This is bugging me because my objection to Riverman's post is based on simple logic. I want you to take a look at what he wrote:
"If there was a business case to put a grocery store in Portage Place there would be one there. But there is no business case so there won't be a grocery store."
That's a fallacy. This is akin to saying "if it's raining, then it's cloudy. But it's not raining, so it must be sunny".
The specifics you've gotten into are fine. But you wouldn't catch me making hard and fast claims about what the market will or won't deliver because--I'm sure you'll agree--the market here is distorted. If we didn't live in a place where governments had pumped massive subsidies into suburban development for decades, only to try to counteract them with more subsidies, we could start to talk about what the market should be doing. As it is, we're arguing about how Salvador Dali elephants can possibly carry golden castles on those skinny legs.
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You're thinking too hard about this. It's as simple as the fact that there's no demand and there's no will. A grocer isn't going to go out on a limb so the few people that care about downtown development in this city can have a test case. They'll respond when the metrics tell them it's wise. Corporations aren't in the business of cutting off their nose to spite their face; if there was money to be made, rest assured they'd be positioning themselves to make it. This is all totally apart from subsidy. The subsidy exists because the government exists to satisfy their constituents in a horse-trade for votes. If the city demanded people live downtown, those individuals would just take up in bedroom communities outside the city limits as a response. And it isn't like people in 2014 have suddenly changed their demands - there's still next to no demand to live downtown even as everybody knows it's ultimately for the good of the city. If the city all of sudden started pulling latent subsidies that exist for those who prefer to live in the suburbs and the costs increased, you wouldn't get those individuals to choose downtown living as if it were a totally binary relationship. They would just move to places like West. St. Paul and LaSalle and tack on a few minutes to their commutes while watching their property taxes decline.
It's worth noting that the city has tried to engineer demand in the Exchange and has so far failed...