News   Jul 15, 2024
 351     1 
News   Jul 15, 2024
 517     0 
News   Jul 15, 2024
 556     0 

Detroit: For Sale in Bulk

We architecture fans in Toronto often like to joke about cannibalizing some Detroit buildings, even moving whole buildings over here. MCS would be at the top of my list if it can't be saved. New GO Train station/office complex... Exhibition Place hotel/convention centre... Harry Stinson project... the possibilities for it being in Toronto are endless.
 
The Guardian building would be good addition to B/A II, but I don't think it's going anywhere. The David Stott building would be a fantastic replacement for the former Sapphire tower parking lot at Sheppard and Temperance. And how cool would it be to wedge the David Broderick tower in beside the Senator on Victoria?
 
In many cities in the US, particularly in the sunbelt, the burden of municipal tax revenues comes from sales taxes localized within the community and not from property taxes. You might have seen this, indirectly, if you read in the news about transit projects being financed in a county somewhere in the US through a 0.5% sales tax hike. Some cities, like Mesa AZ, have no property tax whatsoever. As a result, there is no impetus for landlords to keep up their property or, in extreme cases like Mesa, to even keep them occupied. Instead, the city lavishes subsidies on new retail construction, leading to a surplus inventory of commercial (retail) real estate. For this reason, American cities are dotted not only with abandoned housing but also abandoned storefronts, since the city cares more about collecting tax revenues from sales rather than from the value of the property itself. It's a screwed-up system, to be sure, and in the rust belt it has basically legitimized sprawl without growth.
Thanks for explaining that!


Just don't take my Penobscot!
You can keep the Ren Cen honey. ;)
 

Back
Top