Friday, August 3, 2012

Economy responsible for new ‘ghost towns’


Is Boone County thinking about this?

How quickly they rebound will be directly linked to the reasons the development stalled in the first place,” he said. “There’s a big difference between a development that sits 90 minutes outside a metropolitan area whose pool of buyers dried up, and a very desirable, well-located piece of land being developed by someone who got in over his head financially.

“If the project made great sense because of its amenities, location and price, it will make great sense again,” Rice predicted. “If it was a project located just another exit or two farther from the city than the last project that was built, well, I think those developments may be slower to recover — and it’s possible they may never be completed. We’ve actually seen that with some Detroit developments, where they’ve just pushed dirt over the poured foundations. They’re done

Click on the following to read his entire piece:  Northwest Herald | Economy responsible for new ‘ghost towns’

No comments: