Will SWL 337 Or SWL 351 Meet The Same Fate As Transbay Block 8?June 26, 2009
“With many developers predicting that highrise development of any sort won’t work economically [in San Francisco] for another five years, public agencies are struggling with a development model in which private builders pay for the right to develop valuable land and, in the process, bankroll public benefits like parks, roads and affordable housing.”
∙ Real estate slump threatens projects [San Francisco Business Times]
∙ Transbay Block 8: No Deal Or Development In 2009 [SocketSite]
∙ San Francisco SWL 337 Proposal: Downsized And Drawn Out [SockeSite]
∙ Cosmic Development Karma For San Francisco’s Seawall Lot 351? [SocketSite]
Comments from Plugged-In Readers
“bankroll public benefits like parks, roads and affordable housing”
How about reducing spending in other areas?
In other words, public agencies just figured out that when you depend on other people’s money, pretty soon you run out of other people (credit T. Sowell, I think).
Read this and tell me again why anybody would even think of starting a large commercial real estate project in the city right now….
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