Peter Videv's Blog

The French may be right in their approach to relaunch real estate developments, construction and generally add inventory in multifamily, office and retail sectors.

A recently published law (March 20th 2012) allows for a temporary increase of building rights. In this case 30%. While the law is national in theory, it lets local authorities decide if they will allow vertical expansion to happen.

What are the goals behind this measure:
– relaunch development along with the architecture and construction sectors of the economy.
– create jobs in the above mentioned sectors.
– generate additional real estate taxes as a result of the newly created buildings and structures.
– generate an additional supply of housing and offices.

Could this be done in the US and in NYC? The answer is yes and it needs to be done.

Appart from generating jobs and sustaining construction and architectural jobs in the city, increasing…

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