3 ms·
Because if that land was able to be developed into MDUs, the value of the land would be so high that you'd be a fool to not take it. For example, here in Chica
by selectodude 7y ago
Because if that land was able to be developed into MDUs, the value of the land would be so high that you'd be a fool to not take it.
For example, here in Chicago the value of land downtown is upwards of $40 million per acre. It has nothing to do with the location of the land or that we're completely maxed out for development. It has everything to do with the fact that you can build 250+ units on that plot of land.
- lotsofpulp 7y agoWhy would you build 250+ units on a plot of land? Because people would want to buy or rent it. Why would people want to buy or rent it? Because the location is good. Real estate always has to do with the location.
- selectodude 7y agoIf you were only able to build SFH on that land it would be worth a small fraction of what it would be otherwise worth when you can develop it.