Quote:
Originally Posted by ScottJ
Maybe it's 'physically' feasible, because the buildings aren't falling down -yet- but it's not economically feasible.
|
It
is economically feasible, just not in a short term, big gains way. Spending money to fix those buildings, get businesses and residents in them and revive the street so that, a decade from now, it is a nicer place, won't make anyone much money in the short term, but 20 years from now it will pay off big time.
Quote:
Originally Posted by ScottJ
everyone they talked to said that to renovate these buildings would require far more investment than could ever be made economically viable in a small town.
|
That's why cities like ours have programmes to make those investments work. Thunder Bay has a building restoration loan programme and it works. Buildings get renovated. Then they gain value, house successful businesses and pay $20,000 each in taxes every year.