I'm just hearing the normal rumors and seeing the usual activity that makes me surmise there could be some big changes coming to the corner of 71st Road and Austin Street. Big sales, adjacent stores closing, rumors flying. Send your tips to edgeofthecity@gmail.com
This is just the start of what's to come. Landlords realize they cannot pass the annual tax increases to commercial tenants anymore .Rents have hit critical mass they are trying to sell (read HSBC bank building on 71ave) or develop. BUT and it is a big but there are very few commercial sites that are deemed desirable to convert their airspace. This is due to lack of a quite location/ view /railroad noise if converting to residential.If converting to office space the demand simply is not strong enough to justify the cost of building 12 stories . It certainly appears to be a perfect storm on the horizon.
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