Comment 84257

By what the real project is (anonymous) | Posted December 20, 2012 at 15:49:09 in reply to Comment 84255

Blanchard's pictures are not a "project". This is simply a tall tale that will result in an empty lot. We have seen this many times before. Once the demolition permit is issued, they come down and the land owner gets a big fat tax rebate and there's no way for the city to force them to build.

Property values then continue to plummet and the speculator buys more of them.

They want to buy the bank on the corner - one of the only properties they don't own on that block. What better way than to tear everything around it down and turn it into a wasteland. Then it's easy to buy the neighbours at a nice price.

They have no serious plan to develop this now. They will continue demolition until they own the whole block. THEN they will start shopping it out. They don't care how long it takes. Meanwhile the rest of us grow old and suffer.

They will continue this process until a huge chunk of money comes along - and all the better if it's publilc money.

If these buildings come down it will be at least a decade before anything is built - if ever.

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