Category: Preservation

Housing’s afterlife

21 July, 2011 (10:08) | Allston, Boston, Cambridge, Displacement, Harvard, Politics, Preservation, Redevelopment, Renovation, US News |

By: David A. Smith   Doctors bury their mistakes.  Developers drive by theirs daily.    An urban pile of concrete no one can love: Charlesview in Allston   Remarkably, some properties get resurrected — if, that is, they have the blessing of a politically fantastic location, worth a fortune to a nearby rich global university […]

NNO: Creative destruction, Part 2

21 June, 2006 (09:20) | Economics, Markets, New New Orleans, New Orleans, Preservation |

[Continued from yesterday’s Part 1.]   As Joseph Schumpeter said, in one of the most famous passages about capitalism:   Capitalism, then, is by nature a form or method of economic change and not only never is but never can be stationary.   Schumpeter in Harvard Yard, 1940: “Nice church, maybe we knock it down?” […]

NNO: Creative destruction, Part 1

20 June, 2006 (09:38) | Economics, Markets, New New Orleans, New Orleans, Preservation |

Last week, New New Orleans took a step forward by officials showing judgment and courage: NEW ORLEANS, June 14 — Federal housing officials announced on Wednesday that more than 5,000 public housing apartments for the poor were to be demolished here and replaced by developments for residents with a wider range of incomes. Predictably, the […]

Formula for urban rehab: Part 3 of 3

17 June, 2005 (09:29) | Community action, Development, Economics, Preservation, Urban renewal |

[Return to Part 1] [Return to Part 2] 9. Urban revitalization requires soft debt and soft equity Further to the preceding points, the transaction obviously faced an enormous cost-value gap (with value defined as that supportable by economic debt/ economic equity). Indeed, when we reclassify the sources into the four kinds of money, we have […]

Formula for urban rehab: Part 2 of 3

16 June, 2005 (09:43) | Community action, Development, Economics, Preservation, Urban renewal |

[Return to Part 1] 4. Historic designation has negative value If a building is a certified historic structure, any renovation requires approval by the state historic commission or state historic preservation officers. These folks have a charming ignorance of finance, a willful lacuna concerning the Law of Economic Gravity, a zealous commitment to historical accuracy […]