Comment 39074

By More roads (anonymous) | Posted March 24, 2010 at 02:56:14

Robert D..."The best way to address this is probably a tax holiday for new buildings/uses within the downtown core...It will make projects more financially attractive to investors"

Supply and demand. Right now we have too much floor space and not enough people wanting to fill it up. The result is low prices and vacant buildings.

If the city took some of this supply off the market, prices for existing buildings would rise, as would land and the equity that investors have built up. Over time, as Hamilton got a reputation for being a good place to build real estate equity, the city could slowly unwind some of its land holdings, or lease it out to people to build on.

The benefit to this scenario, is that no government money would be given to private investors as an "incentive" to increase unneeded floor space, as done recently with the Lister Block. The city would simply be buying real estate low and selling it high.

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