Comment 93753

By Jordan (registered) | Posted October 25, 2013 at 18:22:11 in reply to Comment 93694

Good response, thanks. I can see that this kind of speculation vs development mentality would cause a lot of misuse of property, and result in the "gap-tooth" that we all don't desire.

My question then is this; why are speculators like blanchard able to dictate the economy of real-estate in the core? If the most value that properties like the Gore buildings have is in ripping them down and selling them for interest rate/inflation-related growth a decade or more in the future, doesn't that indicate that the property just isn't very valuable? In other words, If blanchard can afford to buy and sit on this property, why doesn't a business owner or entreprenuer value the property enough to pay its worth?

I would LOVE for two buildings such as these to be re-used and repurposed in a creative and renewing way. I would also love for our existing parking lots to have better usage. BUT I'm not willing to pay for it, and until someone else does, the situation won't change. My point is that while BLanchard's practices aren't great for the city, he still has every right to get the value he wants out of it, and unfortunately the downtown core is still not quite bursting-at-the-seams with creative business practices enough for a new business to buy and open in that space. They're all going to buy more affordable frontage on Ottawa street, James street, and the like.

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