Chinatown – poised for a recovery?
Readers of this blog know where I come down on redevelopment – strongly on the side of increasing supply, and pretty strongly against preservation. Not because I’m a real estate agent and am greedy about having more condos to sell; in fact, the opposite.
Increasing the supply of housing benefits everyone. It can, actually, LOWER the cost of housing, obviously. Of course, that would benefit me, too.
Chinatown is a very dense, small neighborhood. It’s bordered by highways and high buildings. Some of it is in dire need of rehabilitation.
Unfortunately, because of the state of development in the city, builders end up constructing offensively big projects. This is what will probably happen in Chinatown.
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