Yep and it will end in massive public giveaway in free loan money to retrofit buildings to something useful, like residential(yes I know of the challenges but there is no better option). Even progressive cities are fucked because their downtown cores that they sold gladly sold out or allowed to be developed out from under their constituents have almost all their tax dollars coming from CRE so they are levered to pro up CRE.
Also it would require changing commercial buildings to industrial. I’m not an expert on this but soil weighs a lot so unless these are plant nurseries I would expect its a more expensive transition than than residential as we’re talking adding like forklift elevators and drains to everything.
The lenders are the banks…sounds like an '08 again.
Yep and it will end in massive public giveaway in free loan money to retrofit buildings to something useful, like residential(yes I know of the challenges but there is no better option). Even progressive cities are fucked because their downtown cores that they sold gladly sold out or allowed to be developed out from under their constituents have almost all their tax dollars coming from CRE so they are levered to pro up CRE.
There is at least one other option: Vertical Farming. I saw one of these in San Francisco go up, but there’s quite a few cities trying it out:
https://www.smithsonianmag.com/innovation/empty-office-buildings-are-being-turned-into-vertical-farms-180982502/
As far as I can tell everyone who has tried this has failed. The energy for the grow lights is too expensive.
Also it would require changing commercial buildings to industrial. I’m not an expert on this but soil weighs a lot so unless these are plant nurseries I would expect its a more expensive transition than than residential as we’re talking adding like forklift elevators and drains to everything.