4 ms·

Wouldn't they have to confiscate the land first?

throwup238 2y ago
Caltrans would buy it the land this case. They've got a pretty significant real estate portfolio that they've acquired for a variety of projects over the decades. One random house I think they still own is Julia Child's childhood home in Pasadena.
- givemeethekeys 2y ago
  I imagine the price of land thats going to be rezoned into residential would be much higher than land thats marked for transportation.
twelvechairs 2y ago
If you dont want government to compulsorily purchase land first, you can also do "value capture" which is in essence saying "anything developed to the new planning controls needs to pay money based on the difference between old and new controls". The economics is quite simple for developers to cost in but it needs to be there early, not imposed after all the developers have bought land without factoring it in.
- nothercastle 2y ago
  It’s better and more transparent if done early but later is better than never
  - twelvechairs 2y ago
    Later just doesnt work as developers wont be able to make a profit so they wont build. Most of the 'profit' (plus or minus some risk premium depending on site/location/timeframe purchased/etc.) will have already gone to whoever sold their land to the developer so government will find it impossible to extract in the same way
lmm 2y ago
All long-distance transport construction requires "confiscating" land. Somehow it's completely routine to take huge swathes of land for freeway widening, but build one little train line and everyone loses their minds.
- travoc 2y ago
  Why is "confiscating" in quotes? Is that not exactly what eminent domain takings are?
  - llamaimperative 2y ago
    You generally don’t get paid ~market rate for confiscations.
    - HDThoreaun 2y ago
      The constitution says the government cant confiscate anything without due process, so not sure why thats relevant.
      - llamaimperative 2y ago
        Eminent domain is considered due process
        HDThoreaun 2y ago
        Eminent domain requires paying market rate
        llamaimperative 2y ago
        Which… was my first point.
        HDThoreaun 2y ago

Caltrans would buy it the land this case. They've got a pretty significant real estate portfolio that they've acquired for a variety of projects over the decades. One random house I think they still own is Julia Child's childhood home in Pasadena.

givemeethekeys 2y ago
I imagine the price of land thats going to be rezoned into residential would be much higher than land thats marked for transportation.

twelvechairs 2y ago

If you dont want government to compulsorily purchase land first, you can also do "value capture" which is in essence saying "anything developed to the new planning controls needs to pay money based on the difference between old and new controls". The economics is quite simple for developers to cost in but it needs to be there early, not imposed after all the developers have bought land without factoring it in.

nothercastle 2y ago
It’s better and more transparent if done early but later is better than never
- twelvechairs 2y ago
  Later just doesnt work as developers wont be able to make a profit so they wont build. Most of the 'profit' (plus or minus some risk premium depending on site/location/timeframe purchased/etc.) will have already gone to whoever sold their land to the developer so government will find it impossible to extract in the same way

lmm 2y ago

All long-distance transport construction requires "confiscating" land. Somehow it's completely routine to take huge swathes of land for freeway widening, but build one little train line and everyone loses their minds.

travoc 2y ago
Why is "confiscating" in quotes? Is that not exactly what eminent domain takings are?
- llamaimperative 2y ago
  You generally don’t get paid ~market rate for confiscations.
  - HDThoreaun 2y ago
    The constitution says the government cant confiscate anything without due process, so not sure why thats relevant.
    - llamaimperative 2y ago
      Eminent domain is considered due process
      - HDThoreaun 2y ago
        Eminent domain requires paying market rate
        llamaimperative 2y ago
        Which… was my first point.
        HDThoreaun 2y ago