Hacker Read top | best | new | newcomments | leaders | about | bookmarklet login

It really doesn't deserve the real estate that it's taking up. Terrible decision imo.


sort by: page size:

Any company wasting loads of cash on stupid real estate doesn't deserve to stay in business.

They should cancel the Condo Development IMO.

They bought it while fully aware of those shortcomings. It’s like people buying cheap land next to an airport, building a house, complaining about the aircraft noise.

Do not buy it.

> Are you serious?

I am.


Owning property in a place where all the money is leaving is a poor investment.

I wouldn't own housing there.

If they lease or sell it, they should not.

A piece of land in a great location that you can't build a house/apartment or carpark on is still worthless for all intents and purposes.

The only reason someone would buy it is to speculate that one day you can build something there.

Zoning dictates prices, it's a struggle to get people to understand that sometimes.


You should not up vote it even once.

Because next it will be, "the wrong business is using the space" and not generating enough revenue. This is how we ended up with condemnations of private property. Someone decided that it could be put to better use, as in generate more taxes. Kelo vs New London ring any bells?

Simply put. Once a foot in the door of abusing the rights of private property owner's is there, there is no end in sight of justifications to come


Because there is not enough for everyone and the property should not be treated as an investment.

I wouldn't be willing to dump a significant chunk of my wealth into a structure built by a company who makes a point to ignore building codes and zoning laws.

Sounds like a disaster.


Because there's no way to justify their ludicrous valuation if you admit that they are a real estate company.

> protecting one's (likely) most significant investment

Because some additional housing is going to completely crater house prices in the area?

I don't buy it.


Bummer for the hosts, but if you leveraged yourself to take housing units off the market, I can’t sympathize.

No offense, but if there's a 100k lot, it's because noone wants to live there.

Lots of comments here complaining about the fact that squatting is allowed.

But the property seems to have been empty for years. It's hard for me to be sympathetic to the right to leave a property completely vacant and unused.


Well, unless you're a sucker that saved whole life to buy that home and now half the value is worse and neighbourhood is shit...

But maybe we shouldn't let private companies decide on things like land usage in the first place...


Because the benefit to the owner of the building (the one paying for it) is almost zero.

Empty and decaying real-estate is a liability, not an asset.

> devalue someone else's home

Maybe devalue the actual structure, but upzoned land is worth more. The only people getting economically screwed here are condo owners.

next

Legal | privacy