Question to my /n/ bros.Do you follow real estate developments in your city? I live in a southern city that was really sprawled, but in the last several years has seen a lot of downtown development focused on pedestrianism and transit-oriented stuff. That breathes life into the city and makes a lot of transportation/infrastructure projects possible. So I was wondering if I’m the only /n/erd who follows commercial real estate news.
>>1331546Real estate is boring. I rather jerk off.
>>1331547It's the largest industry in America, the world's largest economy.
>>1331546Walking and inner cities are for poor people. White people drive because we are successful as shown by our cars and houses and lawn
>>1331563May I admire your inedible plants for a minute? Their luster really speaks volumes about your place in society.
>>1331563Houses and lawns which are being devalued in favor of city centers. And the suburbs have been growing increasingly black for several years.The most valuable asset in real estate is walkability.
>>1331546Absolutely! I get excited every time I see a big pit replace a parking lot and I go look up the permits to see what is being built. There’s a local forum/blog that tracks this stuff and other urban issues. Do you have a local one? Skyscraper City used to serve a similar function for many cities but I think it’s faded away.
>>1331582Usually the local Business Journal and/or newspaper will cover them all.There's also a subreddit for my city which is pretty good for getting news.The only thing the bugs me is people complaining about gentrification as if it were an issue in this town (it's not).
>>1331567This. I swear these posters live in the fucking 80s thinking "inner cities" are all black and not increasingly white due to gentrification. Honestly the most white people i have ever seen in one place is probably williamsburg in brooklyn. Meanwhile most historically white suburbs near any non bumfuck city are 65% white at best
>>1331601Yeah I think they have a bad idea of what “city” means. There are all kinds of architecture styles, different buildings with different uses and different relationships to the street. I know some people want us to just plop down high-rises to get density but I think an incremental approach is best.
>>1331563Somebody should start counting how many times this poster has said "poor" on /n/. He must have an insane inferiority complex to be this obsessed with not appearing to be poor. Probably childhood trauma.
>>1331606I think bureaucracy is the issue here. There is way too much that goes into building a project with all the permits and fees that the only projects that get built are the high rises and large subdivisions.
>>1331644I think you're onto something, but plenty of mid-rises (4-7 stories) get built. It's probably the most popular structure lately and I'm glad to see they've made a huge boost in population density, given a lot of life to formerly-dying places.But I think from here out we need smaller infill with more personal touches. And for that we need to minimize red tape so small developers can step up. Fourplexes, Sixplexes, rowhouses etc.
I don't follow real estate aside from when it makes the news, because it's just too depressing where I live. There's at least 1000 new suburban homes and 2 new huge stripmall shopping centers with parking footprints big enough to contain multiple skyscrapers for each lot redeveloped in a walkable neighborhood.
>>1331677Where the fuck is that? Multifamily is more popular than single-family the last several years.
>>1331852Every growing southern city pretty much. Go visit atlanta, dallas, charlotte, releigh etc
>>1331878I’ve been to all those cities within the last 2 years. Most of the development I see is multifamily. Atlanta and Dallas especially have giant residential towers going up all over the place.
>>1331878Anyone who's been to Atlanta, Raleigh or Dallas in the last several years can tell you this is patently untrue.
>>1331920See>>1331606Giant empty glass towers used by chinese/russian millionaires as investments are part of the problem, too.>>133198910 minute(at night lol), drive outside the downtown and its mcmansions, subdivisions and big box stores galore
>>1331993There are like 10 of those in NYC and they are basically irrelevant. Nobody wants to admit it but the problem is rent stabilization laws. I live in a neighborhood that's 90% rent stabilized and 10% coop. Needless to say the coop prices are jacked up like mad because there's so little inventory, the rental stock gets neglected because the statutory rent limit doesn't incentivize renovations, and so you end up with people desperate to buy into a coop because it's the only way to have an apartment that isn't infested with vermin and doesn't have leaks coming out of every wall. The few market-rate buildings are also ridiculously expensive because they know there's no competition, it's either brand new carrerra marble and hahnsgrohe everything and a tuxedoed doorman, or it's a mold infested slumlord complex, with absolutely nothing in between.People act like lifting these regulations are going to hurt the middle class but they won't admit the regulations ARE what's hurting the middle class.
A golf course was closed in my hometown 3 years ago, and a developer wants to put in a 55 and older community with over 500 single family homes (plus some offices on the main road). The pitch to the village is that the homes generate tax revenue without straining the schools. People who live around the golf course tried to make the village buy and operate it, but that won't happen as the golf course was losing over $1M per year. Don't buy a home for a view you don't own.I say, since it's a sprawling suburb and the plot isn't particularly central, let it grow into a forest preserve. I kind of wish forest preserve districts were given more money to buy up plots like this.
>>1332139Ugh those "55 and older community" pitches are the worst. They always throw that in there so they can be like "huh? so you hate old people?" but they're a farce, anyone who knows old people knows IRL they want a 99 walk score and access to culture but these developers know they can never deliver that and have no intention of doing so either.So after the development goes up they have an abandoned building that doesn't get occupied but got them massive concessions anyway, and they just go "well it didn't work so we're converting this to a shelter/toxic waste dump/5 story cager garage"
>>1331993Yeah, and none of those McMansions are new.You should look at data sometime.Multifamily development has surpassed single-family for several years straight and grown year-over-year.
>>1332139>The pitch to the village is that the homes generate tax revenue without straining the schoolsThat's weird as fuck, neighborhoods like that cost the city a lot of money.Mixed-use development generates a lot more revenue per acre.I would say let the city buy at least part of it and make a park. But that design is atrocious.
>>1332279Yet city and urban dwellers pay more for shit... Hm... Makes me think
Why do people want to turn every city into some half assed fake New York?
>>1332479>half assed fake New York?>implying they isn't already half assed and fake
>>1331995>Nobody wants to admit it but the problem is rent stabilization laws.Actually pretty much every single economist who writes on rent regulation admits that rent regulation leads to scarcity and deterioration of the housing stock. Also every single economist who writes about the failures of price control always brings up rent regulation as an example.
>>1332279The idea would be that the empty nesters buy the homes and pay property taxes without sending kids to public schools. I think it's a flawed concept because the idea of retiring in a community of 1000 other old people isn't that attractive, and yet it decreases the demand on the property by limiting who can buy the homes.
>>1332498Remind me of what percent of the voting public in NYC has a PhD in economics?Also whether it's true or not, "economists say so" is not a good way to get people to listen to your argument when your argument sounds like it's pushing for taking away people's cheap rent. The fact is lifting rent regulations would hurt a lot of people very quickly. In the long run it's the right thing to do but it's very obvious why the idea would not go over very well.
>>1332456Yes, and because infrastructure is MUCH cheaper to provide in dense buildings/neighborhoods, urban dwellers effectively subsidize utilities for those in suburban and rural areas. Don't even get me started on the expense of highways and overpasses for suburbanites.>>1332479Gotta admit I enjoy how buttmad you are. Consumer preference has spoken and people want walkability. Get over it. You probably hate the real New York too so no matter how things are built you're going to whine.>>1332503I have an unpopular opinion, but it seems everyone else in America (even hard urbanists) misses the point. City living has a lot of desirable qualities and Americans want to pay for those qualities. Therefore rent goes up in our most walkable and transit-oriented cities. Blue-collar people are driven out and that sucks for them.But the silver lining is, many people could return to America's 2nd-tier cities and drive new development and transit. I think America's cities have been undergoing such a big transformation the last several years, there are inevitable growing pains.
>>1331546I follow development closely in my area. It all about infill and activation here.
>>1331560It tends to be a large industry, but its terribly interesting. So anything that is built, is limited by city planning and existing infrastructure. Road, water pressure, pipe quality, existing firms doing maintenance, etc. Like, Real Estate in itself is not a large industry. The maintenance industry is, and most of the corporations doing maintenance can also do parts of the process for building new infrastructure. Now, centralization itself makes owning and developing land a safe and profitable venture, with good % yields per decade.
>>1332479"Manhattanization" is the biggest NIMBY myth there is.
>>1331567>The most valuable asset in real estate is walkability.I may not have a yard, a parking space, a wall that can block about my neighbor's sex acts, a place where I can escape the constant droning of the machine shop next door, but whoa, I can actually walk to the local Circle K!
>>1332836>living next to a machine shopWtf is “circle K”, a christian cult of some kind?
Another infill project got announced in my city. Boutique hotel and some condos across the street from one of our biggest parks. I am amazed at how much investment and construction happens in my mid-size city. It seems like 90% of the activity is downtown.
>>1332708All NIMBY myths are true, and if the guy proposing upzoning isn't from New York, the developers and bankers supporting him sure are
>>1331606I live in a live/work and it's nice, family. Unfortunately it's on a cageway where everything is sprawled to shit. the buildings are half empty and the sidewalk is torn up disrepaired garbage. I'm one of the very few people who walks anywhere. But our building serves as an anchor--there's been tons of infill developing around it. It's like a seedbomb. Toss it in, shit develops around it. We need to start from city center and work outwards sowing seeds of mixed use construction into the empty spaces, while introducing better rail lines, which lessens the need for cages and allows for removal of cage infrx like parking lot craters and street parking (holy hell FUCK STREET PARKING let's make roads 2x as wide as they need to be so everyone can park in 3 seconds and pedestrians have to add that distance in to walk past every day! it adds up...it's an entire parking lot distributed across 10 road crossings.) But anyway. Build mixed use housing, businesses will develop around it. put a grocery store in walking distance and the residents will walk there. put a restaurant down the street and the residents will walk there. put other businesses in the vacant lots they walk past. boom, revitalized. they're tearing down the dilapidated single family housing that's been a hobo squat for 10 years and building fancy new condos and townhouses now. >>1331563only debt slaves trying to look wealthy have mcmansions and SUVs. Actual money lives in the rich part of city center and uses Lyft exclusively where light rail doesn't go and they can't reach by walking. dumbass white nigger.
>>1333618>We need to start from city center and work outwards sowing seeds of mixed use construction into the empty spaces, while introducing better rail lines, which lessens the need for cages and allows for removal of cage infrx like parking lot craters and street parkingYes exactly.The suburbs of my city are extremely phobic of mixed-use and walkable development. Even when someone tries to build luxury condos all the boomers put picket signs in their yard protesting the development.But hey that means builders just put more stuff in the city center and the central city improves.>>1333539t. doesn't even know what NIMBY means
>>1333623A suburb near me is trying to approve an apartment development in their dying downtown. Residents are putting "Save Main" signs in their lawn, which are ironically in opposition to the project. Boomers would rather downtown be a place where they have their doctor visits and buy some pottery, rather than a complete livable space.Among the bullshit reasons for opposition: "asbestos removal within 100 feet of a school."