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Raising Land Prices To Raise Eyebrows

Posted by: Connie Chung
Thanks to: John Flaherty
31 December 2003 - 10:00am

Rhode Island officials are raising land prices in order to attract developers and commercial development.

In efforts to attract potential developers, the state of Rhode Island will raise prices for parkland. "That may sound backward, but the state is hoping that a price increase will make the land more desirable to developers, resulting in new companies moving into the park and creating jobs. And the Rhode Island Economic Development Corporation, which operates and manages the park, also expects the repricing to spur commercial development across the state."

Full Story: State hikes price to develop land at Quonset park
Source: The Providence Journal, December 29, 2003
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The decision to abandon a property is a symptom of the loss of confidence. And while abandonment certainly affects confidence among surrounding homeowners, the most important question to answer is not "how do we deal with abandoned properties?" but "what is the most cost-effective way to restore market confidence, and how do abandoned properties fit into that picture?"
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