Related just won approval to build a 37st tower, so that must be outside the eight block area.
Gleeful for one reason...This will artificially inflate thier property values BIGTIME over the coming years, just as such hieght restrictions such as this have consistently done all over the country for decades. Who wouldn't be happy when they just scammed thier local government into doling out a legislated windfall that will surely be tabulated in 6 figures, possibly 7?The tentative approval drew cheers from about 100 gleeful residents in the City Commission chambers for the three-hour discussion.
I'm sure that these seasoned citizens have more than just reason to effect development and the progress of a nation, but what an interesting study for the young folks. Whatever the reason, why does their vote effect what it is right.Jasonhouse said:Gleeful for one reason...This will artificially inflate thier property values BIGTIME over the coming years, just as such hieght restrictions such as this have consistently done all over the country for decades. Who wouldn't be happy when they just scammed thier local government into doling out a legislated windfall that will surely be tabulated in 6 figures, possibly 7?
And with the state's silly property tax laws, these people will never have to shell out much more in taxes, no matter how much thier property appreciates over time... Talk about living life easy! Sit on thier land for a decade or so, sell it at a HUGE profit, rake in a few million, and who cares what the zoning allows then?
And probably less understanding of local zoning codes, which require that a development contain all of its own parking, and have certain setbacks. Combined with other conditions, it is basically gauranteed that squatty, gentrified slabs is what gets built.streetscapeer said:^I have a little more faith
How in the world does reducing the height limit increases the value??? :bash:Gleeful for one reason...This will artificially inflate thier property values BIGTIME over the coming years, just as such hieght restrictions such as this have consistently done all over the country for decades. Who wouldn't be happy when they just scammed thier local government into doling out a legislated windfall that will surely be tabulated in 6 figures, possibly 7?
And with the state's silly property tax laws, these people will never have to shell out much more in taxes, no matter how much thier property appreciates over time... Talk about living life easy! Sit on thier land for a decade or so, sell it at a HUGE profit, rake in a few million, and who cares what the zoning allows then?
The height of the building has nothing to do with the streetscape. It has more to do with what you put on the ground level. A 50 story building with retail frontage is a lot more urban and pedestrian friendly than a 5 story building with a plain lobby.this isn't necessarily a bad thing...with the height limit, developers may be more willing to attempt creating structures that meet the street in a more urban fashion!...just an inkling I have
In Hollywood there is more supply (space) than there is demand. This would reduce the supply but wouldn't affect pricing because there would still be more supply than there is demand. Again in the urban areas this would reduce pricing. If I can only build 50 units on a lot instead of 100 units then the lot is therefore worth less. The only places were height restrictions increase value is when you have a mature markets and/or markets with boundaries like Manhattan or DC.It will increase THEIR home values as they will own a limited commodity. Duh.
Perhaps you misunderstood, the home value is what will be greater, not the land.