Redevelopment, as it turns out, is actually bad because it prompts higher property values (and taxes) and might gentrify the district, forcing some people to move. In other words, light rail should be prevented from doing what it does best: add value to urban neighborhoods. More stations might be OK, according to the suit, but only if nearby residents and businesses are insulated from the ravages of prosperity. At least that's the drift of the argument.So do we just not improve anything? I'm sure that's not the answer. But these things are tough to balance.
Sunday, January 24, 2010
The Ravages of Prosperity
It's interesting how any transit investment can be seen as good or bad based on how the increase in values affects the community. Some want better property values but others don't for fear of being displaced. So you're damned if you don't, damned if you do.