Quote Originally Posted by mwilbert View Post
I think this is not really the key issue. The issue is whether you can build new residential space of whatever size at current rents, or alternatively, when rents will be high enough to build new residential space. Even with the current rising rents, I don't believe new construction downtown is economic without subsidy.
The article that started this discussion said developers have identified that point as the average [[or maybe median?) rent hitting $2 per square foot. It's about $1.75 and rising. The prediction was that if/when it hits $2, you'll see a rash of new developments, especially because acquiring lots and vacant buildings is still going to be pretty cheap.