Quote:
Originally Posted by Fuzz
I think you miss the picture on that, and I disagree with your conclusion. I'm going to assume that builders in these communities tend to build duplexes and infills because they are easy compare to the process for multi unit builds. Take away the consultation and council stuff, and you don't think more builders would move to more units which would mean more profit? If not, why are they building any now, considering the onerous process? Why not just stick with duplexes?
Because we know they do go through the extra effort now, it must be worth it to them, so not only are there the extra costs right now to build these, there is also the motivation of extra profits once a barrier disappears. As long as there is demand(which we've covered), logically we can predict where this will go. And with more units, there is more competition, and price pressures. And I haven't seen one logical argument that this will cause prices to increase, so that only leaves 2 other options. The same, or less.
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I mentioned this earlier - a property is worth more if zoned for highest and best use. Take two properties currently and the one zoned for multiple units will be worth more than the one strictly zoned for a single dwelling, all else being equal... Could being zoned for highest and best use cause prices to rise, or because it's across the board, status quo remains?
Anyways, as I've admitted, I'm clearly not as familiar with this as some of you here are, so I'm honestly not trying to be a pain and just looking at this from my (uneducated) perspective... I've always found the redevelopment part of building the most interesting and, despite how my posts probably come across, hope this is a success... No, if we could only get the local developers to raise the painfully low bar they've set when it comes to quality of design... That's another topic altogether.