City Hall’s Hidden Value

Posted by on May 24, 2006

Real estate investors are finally catching up to what the market wants. Not so long ago, it was impossible to sell investors on mixed use. Too complicated, they said. We don't get it. Is it housing, office, or retail?

Well, it's all three -- and more. According to the retail real estate report ad in Monday's New York Times, "having office, retail, residential, maybe hotel, the diversification balances the portfolio, even in one development."

And City Hall has special power, according to the report. "Having a city hall building gives the development a triple-A bond quality. It turns a development into a downtown."