Quote:
Originally Posted by topfiverecords
How do you incentivize developers that are sitting on epic amounts of land, along with the city sitting on loads of vacant or underused land, to get projects underway that would bring tens of thousands of units, perhaps even a hundred thousand units online within a few years? Interest rates, appear to the main impediment right now, with concrete construction costs second.
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You tax unused property based on its developed value to make holding developable land very expensive driving the value of said land down which makes the economics of development much more attractive. You could do this with a slowly increasing tax burden the longer land sits undeveloped.