Quote:
Originally Posted by powderjunkie
It's a bit of an opportunity cost question - should we be facilitating development in that location over others? Should we do nothing and let the free market dictate development? Should we facilitate other locations?
For instance, Westbrook TOD is stalled out (apparently because developer paid so much for the land). Which would be better for the city overall - Midtown or Westbrook? It's hard to quantify and the answer might be that it doesn't matter, but my gut says Westbrook would be better as it's filling in an empty hole amidst an area with lots of momentum, so adding more density will continue the revitalization of businesses and ultimately generate more value.
Whereas midtown would be a direct competitor and probably result in more dilution and failed endeavours. There is already so much unrealized potential around Chinook and Heritage stations, though the main barrier is probably land cost. Instead of any investment (operational or otherwise) to create yet another half-assed district, direct those funds to improving the public realm around those other stations and maybe we'll see something other than new car washes and continued big box parking lots.
Midtown is almost certainly just a pump&dump where there current proponent will flip this scheme once they secure a higher theoretical value and it'll ultimately fizzle out to something very very very mediocre at best.
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Getting the money from the station paid before construction on the station starts seems important to me.