Quote:
Originally Posted by Addick
As the condo capacity decreases, so too will the supply of new units. In turn, the cost of units and land upon which they can be built increases. If a developer is sitting on contaminated land, they can capture the uplift.
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Wow that's a reach. The economics don't make sense now - when the land has negative value. You're saying they'll make sense if there is less condo supply on the market which will happen if the city is developing other sites (which doesn't make sense to me - why would condo capacity decrease), therefore condo prices will rise which is accretive to the developer's returns? But you're also saying that by developing other areas, the land will increase in value (which is detrimental to the developer), so that the city will profit more when they sell it, so that it can contribute to the cleanup? or something.
Let's just leave it.
The city should and needs to contribute to the clean up and development of the W Village.