walkitout (walkitout) wrote,

infill development woes

In an earlier post, I suggested that whether anyone required them to do so or not, odds on, homebuilders would be leaning towards infill over greenfields through this downturn and for the foreseeable future, given that There Will Never Be Another Guvmint-Funded New Road Again (obviously an overgeneralization).


Toll Brothers in 2003 bought an urban/infill developer; I'm assuming it's the present-day incarnation of that subsidiary involved in this. They cut a deal with East Brunswick to build mixed use (what Smart Growth/densifiers/etc. want) commercial + residential. Then the crash happened and there's way too fucking much housing everywhere and Toll Brothers wants to make the deal all commercial (it's not clear to me that that's such a hot idea either, but I don't actually know anything about East Brunswick and real estate is all about local conditions). The town doesn't want that and everyone is suing everyone and a judge is making decisions, reversing them, etc. I'm sure antics will continue for the foreseeable future.

I should probably note that having tried valiantly to actually _watch_ the sausage process in a few things that had the same kind of everyone-sues-everyone-else-and-judges-get-overturned-etc. traits, I'm fairly optimistic that the outcome won't be bad. And hey, it'll provide much needed work for attorneys. Given that I have in-laws who are attorneys in NJ, that's a good thing, right?
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