That's an awful lot of hardscape and hardware investment, PI, so to speak.
We've already established that with the changes that have occured in the financing requirement now and going forward, construction costs per square feet have to stay constant (with today's post-bust levels) while unit sizes have to fall by as much as another 30-40% on average. And that's ceteris paribus.
Now you want your trifecta.. who's paying for it? Does this mean the average unit size in those TODs fall to sub 800 square feet? Because doing the numbers in my head as a professional planning estimator, that's what it looks (or at least smells) like to me.
My point is, we have to look at more modest, less capital intensive alternatives too... there are high rent, high demand places where your model might work. But most of the country isn't like that. This stuff might've made sense based on 2006's financing envirnoment and property values.. but those values, relative to the economy as a whole, just aren't coming back. Ever.



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