bigeman312
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Re: Twenty Two Liberty @ Fan Pier | 22 Liberty Drive | Seaport
A land value tax would help developers build what the market wants. That would be a great way for the city to encourage the highest use of land by taking a hands off approach. Everyone would win, except the city's short term tax revenue.
All "luxury" means in Boston these days is "new." If you replace the offensive word "luxury" with the word "new" it all kind of makes sense. Duh, of course new construction on extremely scarce land is expensive. Putting in a fancy counter top and shiny fixtures (i.e. the "luxury" elements) is not what makes these things expensive. There is no non-luxury trim that would make new construction appreciably less expensive.
Don't kid yourself that non-luxury new construction is an option in a desirable neighborhood (we are talking about freaking Fan Pier here) and don't kid yourself that non-luxury new construction is an option in an undesirable neighborhood until the market gets truly saturated and developers are forced to settle for lower margins.
It is not some bullshit marketing hype driving this. It is the market itself.
A land value tax would help developers build what the market wants. That would be a great way for the city to encourage the highest use of land by taking a hands off approach. Everyone would win, except the city's short term tax revenue.