When the back-to-the-cities trend started taking root, albeit very unevenly, cities were so glad to finally land deals that they routinely overpaid, not having a solid grasp of the demographic and market forces they should have been channeling instead of subsidizing. Itโs especially true for retail and entertainment projects, which generate very poor-quality jobs. I have yet to find a city that has figured out how to โtake the foot off the pedalโ and stop over-subsidizing, even when gentrification becomes a problem.
Sandy SmithWhen the back-to-the-cities trend started taking root, albeit very unevenly, cities were so glad to finally land deals that they routinely overpaid, not having a solid grasp of the demographic and market forces they should have been channeling instead of subsidizing. Itโs especially true for retail and entertainment projects, which generate very poor-quality jobs. I have yet to find a city that has figured out how to โtake the foot off the pedalโ and stop over-subsidizing, even when gentrification becomes a problem.
Sandy SmithAs I live in awareness of, growth in, and gratitude for mercy, my life will bring glory to Him
Sandy Smith