Quote:
Originally Posted by Biff
There should be at least 9 more buildings in that picture - instead we get 9 square, empty parcels of land eaten up by surface lots.
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If there was a demand and a market for condos, office towers or apartments, there would be no surface lots in that picture.
Unfortunately commercial lease rates are too low to justify an office tower, construction costs make new condo towers too expensive for potential buyers, and rent controls make it impossible for new apartments to compete with existing apartment buildings.
So instead, we have empty lots being used as parking lots until the market improves.