Comment 89624

By brendan (registered) | Posted June 19, 2013 at 15:31:42

The worst part of the article is Blanchard's determination to complete the demolition this year, even though plans for reconstruction have not even begun. $10 says that the resulting gap will remain empty for at least five years. I presume there is some perverse incentive (taxes?) that is driving them to tear down as soon as possible. Anyone know?

If we want owners to maintain buildings rather than empty lots we have to change the economics. How about an empty-lot tax penalty for any owner that doesn't rebuild within 2 years? Or a reduced tax rate for owners who meet (TBD) "good neighbour" standards for city building? Put the rules in place now, and we won't have to be held hostage by owners looking for a handout in future.

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