It's a terrific strategy. Remember when New York was suffering in the 1970s? Luckily, they had the good sense to knock down a lot of outdated housing stock, remove subways, and remake Manhattan into a place with lots of open fields "ready for development." And, 40 years later, it has TOTALLY paid off. Look at all the great new mini-malls and big-box stores they've built there! And getting rid of all that expensive infrastructure helped make that boom possible!