Quote:
Originally Posted by WhipperSnapper
It's no different than applying for a 40 storey tower on a lot zoned for 5. It's not done more because it's not as profitable. A lot of people have tried and lost their shirts.
|
Yeah, because to try to go through the approvals process to get the site rezoned, pay development fees, etc. takes a lot of time, money, and expertise. For anyone willing & able to go through with it they might as well just go for a 40-storey tower.
If the city didn't put up so many roadblocks for this sort of development (or, imagine - even actively
encouraged them) though, there'd be a lot more of it. It's not as profitable as a 40-storey tower, but it also has a lower cost of entry & less risk, which makes it easier for smaller developers.
Quote:
Originally Posted by Andy6
Huron Street was always the Baltic/Mediterranean Avenue of the Annex.
|
This description is perfect.