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The city government expects this. This plan has been on the city transit website for years. When CATS quietly dropped the project in early 2008, the city paid several million dollars to a consultant, Bay Area Economics, who gave a report back to the city that said if they build this streetcar, then I quote:
"...residential and retail development with up to 70% more units constructed as a result of the streetcar system impacting investment decisions"
Of course this was not quantified in any way on how these results were determined and aside from that, this snake oil completely did not take into account the crash of the real estate bubble. So much for paying consultants with tax dollars. But I digress. This is the rationalization for the madness behind going ahead with this project. I agree with you on the naive opinion, but I would probably use stronger words.
It's all right here Home (http://www.charmeck.org/Departments/CATS/Rapid+Transit+Planning/Center+City/Home.htm - broken link)
You misunderstand me, lumbollo. My reference was in regards to Eastland becoming the east side anchor of an expanded Uptown, as claimed in that article (with no mention/link to any transit project). It had nothing to do with CATS or any other transportation. That's gotta be 5 miles or more from Trade/Tryon to Eastland! To think that any one development will lead to an admittedly small Uptown area being extended that far is ridiculous. That's what I was saying.
I thought my post was clear about that, but I apologize if it wasn't.
The financial failure of this developer is just going to cause lenders shy away from future CBD investments. Great Job!
I don't think so! This is just one developer who obviously has made a lot of blunders and really shouldn't be trusted to handle any more big projects Uptown or anywhere else for that matter! If that's the case, then I guess lenders are going to shy away from future Ballantyne investments as well, b/c the entertainment complex in Ballantyne also went into foreclosure! I wonder what were the circumstances that led to that proerty going into foreclosure?
The city government expects this. This plan has been on the city transit website for years. When CATS quietly dropped the project in early 2008, the city paid several million dollars to a consultant, Bay Area Economics, who gave a report back to the city that said if they build this streetcar, then I quote:
"...residential and retail development with up to 70% more units constructed as a result of the streetcar system impacting investment decisions"
Of course this was not quantified in any way on how these results were determined and aside from that, this snake oil completely did not take into account the crash of the real estate bubble. So much for paying consultants with tax dollars. But I digress. This is the rationalization for the madness behind going ahead with this project. I agree with you on the naive opinion, but I would probably use stronger words.
It's all right here Home (http://www.charmeck.org/Departments/CATS/Rapid+Transit+Planning/Center+City/Home.htm - broken link)
Are you serious? Noone is expecting for Uptown to extend all the way to Eastland Mall. If that were to happen, then Charlotte would have a kickass skyline that will be comparable in size with NYC and Chicago! I know you are for the "Oldschool" Charlotte, but I know you're better than that, to say that Charlotte city government wants to extend Uptown to Eastland Mall, it's not remotely possible!
Are you serious? Noone is expecting for Uptown to extend all the way to Eastland Mall. If that were to happen, then Charlotte would have a kickass skyline that will be comparable in size with NYC and Chicago! I know you are for the "Oldschool" Charlotte, but I know you're better than that, to say that Charlotte city government wants to extend Uptown to Eastland Mall, it's not remotely possible!
You're being too literal... I don't think anyone expected the CITY itself to extend - they expected the money/spending/shopping/prosperity to extend since the train allowed for easy access.
You're being too literal... I don't think anyone expected the CITY itself to extend - they expected the money/spending/shopping/prosperity to extend since the train allowed for easy access.
Maybe you're right in that I was being too literal, I can get carried away sometimes! I do find your comment to make since as well!
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