Quote:
Originally Posted by dleung
It's prevalent yes, but is it the highest use of land, even given lower land values outside of Vancouver? I think it's just a case of mall developers using a myopic short-sighted proforma, whereas the TOD developers prefer to share the land cost with as many tenants and condo owners as possible, to ultimately get more value out of the land.
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Retail is the biggest cash cow. I cannot hold it against mall ownership to not want to throw residential condos into the mix and complicate potential future expansion.
TODs are a zoning initiative and they aren't all successful. The allowable densities causes land values to rise forcing developers to consider alternatives to surface parking.
Everything built is profit driven. Some of the biggest big box builders are also TOD partners.