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Artificially planned mixed use "downtowns" (for lack of a better term) require some sort of anchoring force: location, food and shopping, employment, etc. If th
by rhino369 9y ago
Artificially planned mixed use "downtowns" (for lack of a better term) require some sort of anchoring force: location, food and shopping, employment, etc. If that force here is based on google doing something--and they fail or just stop--then the development will fail.
America is littered with these kind of developments. In growing markets with strong demand, worst case, you just turn the retail/office space into lofts and rent them. But in areas where demand isn't high, you get empty strip malls.
And if all google is doing is building apartment/condo buildings in a hot real estate market, this isn't some digital moonshot vision of the future. They are just building apartments in a can't lose environment. Anyone can do that.
- sanswork 9y agoIn this case the anchoring force is provided by WaterfrontTO and it is close enough(walkable) to the financial district and the new south core district that even if it was just apartments it would fill out quickly. I think the Google stuff is just a bonus. I don't even think they are building the apartments from how I read it they are just providing a layer of services on top for the new project.