If a 30 story tower is approved at this location in a designated Downtown Transition Area, then ALL the other neighborhoods noted here and currently protected by Downtown Transition Areas are at risk. This is a dangerous precedent to set.
Council Planning Retreat – January 24 & 25, 2025
Highlights from Council’s Planning Retreat
The Attack on Single-Family Zoning
I have experience valuing homes that are next to duplexes, fourplexes and apartment buildings; I see what’s happening in these neighborhoods. Once zoning is changed from single-family to multi-family, developers move in and start competing against families for older homes. Unfortunately, the builder always wins because they have more money and are willing to pay cash. Homes, perfect for a starter family or in need of being rehabbed will be purchased by a developer who will tear the house down to make way for a new multi-unit building on a small 5,000-square-foot site. (It’s called the highest and best use of the land). The moment construction starts, the value of a nice condition single-family home next door goes down; the appraisal term is called external obsolescence. Welcome to capitalism in America.