Quote:
Originally Posted by Addick
Not exactly. I'm saying that the City can prepare other lands for development at less or virtually no cost. By reducing the amount of brown/greyfield sites left for redevelopment the sites that remain increase in value. Consequently, the landowner can then devote some or all of that increased value to the cost of remediation thereby reducing the amount required from the City.
Is it really a need? Are there no other large areas or numerous sites that have great redevelopment potential?
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I'm missing your logic, or misinterpreting. Increasing the value of the land, if as in your scenario there was a shortage of sites to develop, isn't going to help a private developer. It's going to hinder the economics even further. You have to look at this from the point of view of the developer as well as the city.