So with the state of the market comes the downsizing of a lot of developers. Within this comes the fact that a lot of the developers that were here in the past aren’t going to come back when the market corrects again. Today’s paper has an article regarding this. It speaks of how urban infill will be the way of the future for development as there is really no more buildable land. Buildable in the idea of an Eastlake or Otay Ranch or Scripps Ranch.
Vertical living is the way of the future. With that in mind, one could view a purchase in downtown as a “first phase” purchase. So to speak. As there are numerous empty lots to develop you can view the construction that has been done as a first phase of downtown redevelopment. You can’t say the same thing about suburban development. Not that there won’t be suburban development ever again or that there won’t be any investment return on a suburban purchase. Not my point at all. Point is, and read the article, the future of development will be vertical infill.