Wasn't the real effort that the small businesses knew the project was downstream several years in advance and should have been planning for this? You can't lay all the blame on the developer here. This project has been well publicised for years and businesses should have planned accordingly...
The value of a property is based on the rent. If an area is a 5 cap, then the value of the property is roughly 240x monthly NNN rent.
So if they give you a $250 per month rent discount, then the value of their property just fell $60k.
The landlord's bank may even call the loan if the value...
Given the mention of a downtown hotel in the other thread, there appears to be some behind the scenes work to get this one moving, which will be good for the area.
Think that one is dead in the water. That DP isn't new, was first submitted in 2015 and went through quite the rezoning dance before it was withdrawn. Unless of course someone has other information that is new. I don't know if Nerval has done any development?
Let's dial down the rhetoric and posts about projects being cancelled without any solid information. If you stick around here long enough, you will realize there are quite a few people either directly in the industry or in the know with industry that are generally forthcoming about the status of...
That is the entire rub though, ain't it?
Government oversight and intervention vs letting the free market play out.
The public sector, especially today, is always in a rock and a hard place, because of various interest groups lobbying for certain things, media attention, and social media...
I guess we'll see how feasible it is in May. $550M of a $40B project or whatever it will cost isn't much. So far, two people have traveled for 15 seconds at 160 km/h. Honestly, I'd rather the $550M go into proven technology like maglev or other forms of rail. I guess it is nice that we are doing...
The problem with the argument of dumping extra money into speeding up projects is that the money that you dump into the project would have been spent on other projects and benefitted more people - the opportunity cost. The infrastructure dollars will be spent either way. The other thing to note...