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they’re constantly redeveloping lots. Currently, because of the influx of ultrawealthy individuals from overseas, if you’re a developer looking to turn the 4 lots of chinese restaurant/bodega/shitty apartment building/newstand you just bought into a modern highrise, there’s is a huge incentive to make it an ultra-luxury high end development with 3000sqft “residences” that will sell quickly and for absurd amounts.
What they’re talking about is giving incentive for that developer to build 30 1000sqft apartments instead of 10 3000sqft apartments.