Quote:
Originally Posted by lawfin
Clearly you have misconstrued what I said or you don't know what you are talking about or a toxic combination of both. So in a demand crunch ....which I agree has occurred...but that is not the only factor influencing vacancies on Devon.....a Walgreens can get built from scratch with expanded parking lot, a branch bank can get built according to you but nothing else can? Curious?
Oh, and by the way I have it on authority that there is a proposal for a Starbuck's ...drive thru style on the parcel just south of the brand spanking new parko-Walgreens. Funny how these national chains can get developed when there is no demand.
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^ If a developer could build a retail center and fill it with small local businesses, be confident that he or she will make enough rental income to pay off his loan, pay utility bills and property taxes, and still generate an income that gets a good return on the investment, then that would be wonderful.
That is the dynamic that determines whether things get built or not, not some passionate pleas of a die hard urbanist.
I became less of an idealist very recently, when reality spanked me in the eye and I realized just how much building & construction costs as well as property taxes EAT the hell out of your profits in this city, from my personal experience. I have to pay some douche bag $200 just to submit the city a letter (which he doesn't even have to write) that he will be involved with my rehab project (which he won't), because the city requires a licensed concrete worker with a license to work with brick (which my project won't require)--union rules, I'm sure.
In this shitty economy, only large companies like Walgreens and Bank of America can put up with this bullshit and expand all over town. In a better economy, maybe Habib's Hookah Lounge and Kabob eatery can do the same, but right now that's GOTTA BE a bit hard! If you really want to see more small, interesting businesses in this city proliferate, then tell your Alderman and your Mayor to make it less expensive to build, renovate, and/or operate a business in this city.
Despite this argument, yes I continue to bitch and moan about strip malls at North/Clybourn but that is different--you've got a highly trafficked area, a renovated subway stop, tons of investment, and tons of national chains--the city can easily require some basic design standards here, but it chooses not to. But Peterson and Richmond? Different story..