Suburban regulatory barriers own much of the blame but are just part of the problem. While the Gateway Cities that we represent welcome development, land and construction costs have skyrocketed even faster than rents have increased.

Numerous properties in our downtowns and residential neighborhoods continue to sit idle. These empty lots, abandoned businesses, and half-empty office buildings are especially costly to redevelop. It could be environmental contamination, lack of parking, or a quirky older building that is difficult — and cost prohibitive — to reconfigure. In many cases, convoluted transactions have clouded the chain of ownership, requiring years of costly legal proceedings to resolve. Properties may sit for decades in a state of decay, deterring private investment in buildings that would otherwise represent strong candidates for redevelopment.