When developers build apartments in pedestrian-heavy areas, many cities require restaurants or retail on the ground floor. The idea is to encourage people to walk, rather than drive, to shop and dine.
But developers often lose money on those storefronts, and those costs get passed on to renters through higher housing prices.
Yep, you’re right.
It’s the “I’ve tried nothing, so let’s help the developers and see if that works” approach. I was hoping he wasn’t going to be this bad, but alas, he is.
It also cuts down on Yimbyism. I’m happy when I see dense housing go in, not only for the relief it brings to housing prices but also because I know the neighborhood will likely get more interesting to visit because of the shops/etc.