(01-24-2024, 04:46 PM)tomh009 Wrote:(01-24-2024, 10:33 AM)ac3r Wrote: I really hate companies like Auburn, Vive and Drewlo because they have a monopoly on development in this region along with very deep pockets, so they take so long to finish anything. It wouldn't be so annoying if they didn't buy up all the best land.
Nobody has a monopoly on development in the region. Anyone can buy land, and develop it.
You're ignoring the fact they have a lot of money to throw around. Sure, anyone can buy it and develop it. But as Lens pointed out, these developers are locking in as many sites as they can as soon as they can but with no rush to do anything. That does none of us any good in the middle of a housing crisis.
Also where they own land is irrelevant to my point. If I bought up a huge swath of land in the suburbs...or hell, the giant Manulife parking lot at Charles/Joseph, fenced it up and then didn't touch it for 10 years that isn't going to be any use for people. Well, perhaps with the exception of myself since I could decide to just flip the property (like Vive has done in the past) in 10 years time when it has more value. If said property was instead bought by a developer eager to get to work and immediately began construction of housing projects, then the public benefits. Also downtown being prime land is subjective. Yes to a lot of us who like urban life it is, but others may prefer to live somewhere more suburban with this development, SmartCentre Cambridge or the large Drewlo project being examples. For many people, such locations may be preferable if they're closer to highways or places of employment.
I get this is how capitalism works, but it's still annoying when you know these projects will take a decade plus to finish. Heck look at how it has taken Drewlo with their downtown project. It's going on half a decade and they are barely half way finished.