Quote:
Originally Posted by jsbrook
I think his point is that it doesn't matter if those businesses on South Broad are profitable. If the land is upzoned and someone wants to buy it and build a tower, the owner of the land is going to sell it. It's is far better financially for them to do so. The tenants can return, he is saying. Or not. I think many likely would not once the construction on new development is over. I think McDonald actually may own the land where it sits on South Broad, but I think the other parcels have different business and land owners.
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These parcels are all CMX-3 which allows significantly higher density and use than what's currently there. Besides, if any developer wanted to build something bigger than CMX3 here, petitioning for a zoning variance to the councilman to upzone the property to 4 or 5 would probably take little more than a 37 second phone call (didn't that happen to Blatstein's parcel?).
These are thriving businesses that are making a lot of money for themselves and the property owners. I love the optimism but I just don't see these things going anywhere for a loooong time.
In the meantime, though, maybe Kenny Gamble can stop squatting on his lot at Broad and Christian already (what a joke).