Hey, never said it couldn't happen, but this is why its not the first choice of developers... its totally possible. The parent just asked why its not readily done.
> but weather or not it's more expensive than building more housing in the area
that's for the market to decide. This area has very expensive office space, and you'd have to factor in the loss in revenue in office rent. of course, in a world where the offices stayed vacant, that's 0 anyways.
> look more like the east coast
I lived on the east coast, the parts that people want to live often aren't cheap either (NYC, Bos, etc). They're also not increasing housing by much.
> Ye Olde "luxury apartments are expensive" argument
This wasn't an argument against, its more a "where does this money come from" point. Expensive things are expensive to produce. Thankfully they're expensive so they can cover construction expenses. SF needs more new luxury housing so people with lots of money stop living in existing housing, leaving room for poorer people. No one would build market rate housing when there are millionaires living in rundown walkups.
> but weather or not it's more expensive than building more housing in the area
that's for the market to decide. This area has very expensive office space, and you'd have to factor in the loss in revenue in office rent. of course, in a world where the offices stayed vacant, that's 0 anyways.
> look more like the east coast I lived on the east coast, the parts that people want to live often aren't cheap either (NYC, Bos, etc). They're also not increasing housing by much.
> Ye Olde "luxury apartments are expensive" argument
This wasn't an argument against, its more a "where does this money come from" point. Expensive things are expensive to produce. Thankfully they're expensive so they can cover construction expenses. SF needs more new luxury housing so people with lots of money stop living in existing housing, leaving room for poorer people. No one would build market rate housing when there are millionaires living in rundown walkups.