Viewing a single comment thread. View all comments

Newarkguy1836 t1_j7hbeva wrote

Reply to comment by NeoLephty in Arc Tower on the agenda at tomorrow's Central Planning Board meeting on Zoom, February 6 @ 6pm by felsonj

Developers have to lobby lending institutions. They're the ones who set the rules on what theyll lend & what rates of repayment. You need profit to repay the banks & have money to pay themselves & all parties involved. If the math doesn't work out & leads to break even or red, it ain't happening.

That's why it was infuriating when I read some commie Newark official tell Newark developers seeking to save the Riviera Hotel "We don't go by math & e economics alone. People need to live there". As if Newark is supposed to be a 24sq mi. Welfare hotel!

1

NeoLephty t1_j7hcpp2 wrote

This is an asinine comment. Helping the current residents of the city doesn’t make Newark a “24sq mile welfare hotel”… whatever that means.

You should read a bit about how investments into communities have guaranteed economic returns. Make cities more walkable? More commerce emerges. Make transportation better and free? More people freely move about to commercial centers without clogging streets with cars and traffic. Provide housing and social services? More people have the capacity for work, paying taxes, buying products and housing, having children, getting educated, and leaving our streets safer and cleaner.

It’s all basically guaranteed based on multiple historical reference points from multiple parts of not just this country, but the world. It’s not even up for debate.

Or we can keep building residential towers like New York City and MAYBE we’ll have some huge companies headquartered here and the employees of those companies might drop a couple of penny’s on our homeless as they step over them on their commute home. Again, historical evidence everywhere.

If you REALLY want the city to succeed, you should want the city government to be the backbone helping the PEOPLE of the city MAKE it succeed.

1