this post was submitted on 26 Mar 2025
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Where I live there was a super-popular local bakery. The landlord tried to get them to pay a higher rent and then kicked them out when they refused. The building has now been empty for the last five years. I do not understand the economics of this shit.
Not likely intentional, more likely a redevelopment attempt that fell through, is blocked by zoning or other red tape, or changing market conditions.
We have a similar situation on a prime location on a very active street of shops and restaurants: there’s no reason for these building to be vacant for years. However I understand they wanted to redevelop to a much bigger building and have not been able to get it re-zoned.
Right across the street a similar redevelopment effort has been a huge success with something liver 100 apartments over street level restaurants. That’s perfect for that location and we need more of it, but exceeded zoning limits. Ever since then, our town council has been dragging to slow redevelopment
I don’t understand that either! Sometimes I think people are so numerally illiterate and emotionally butthurt that they completely disregard carrying and opportunity costs.