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Metropolitan DC Local Politics
Reply to "More profitable for DC landlords to "sit" on empty storefronts than rent at market rate??"
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[quote=Anonymous][quote=Anonymous]There is retail in Columbia Heights and Petworth that sat vacant for a DECADE. Was scratching my head about this too. Seems ripe for some targeted tax policy.[/quote] There were commercial properties in Shaw and H Street NE that sat vacant for 40 years after the 1968 riots. The calculation was always the same: the upside of being able to capture future high rents was greater than the downside of forgoing puny rents right now. [/quote]
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