3 ms·
> there's a class of landowners who intentionally reject rezoning to artificially restrict the supply of homes I don't understand this, where I live rezoning m
by tarsinge 5y ago
> there's a class of landowners who intentionally reject rezoning to artificially restrict the supply of homes
I don't understand this, where I live rezoning means your land becomes 3x more valuable overnight and every house landowner dream of it. Opposition is either sentimental or for environmental concerns (which can be justified).
- 88913527 5y agoIf you'll indulge me, I have a concrete story on this. In San Diego County, in the city of Del Mar, there is one final plot of 17.45 acres of oceanfront land. What was to happen to it? The proposal was the "Marisol Specific Plan". It was to developed into a resort, easily a high 9-figure project, producing revenue, creating jobs, economic activity. When voters unsurprisingly rejected it, the land was subdivided into 5 ultra-luxury lots, each going for $10-20 million. The inadequate zoning is leaving hundreds of millions dollars gone because the land can't be put to its full productive use.