Rising Real-Estate Prices Stall Civic Projects
San Gabriel Valley Tribune › February 03, 2006
Linked as:
Summary
Skyrocketing real-estate prices that have stymied prospective homebuyers are also taking their toll on state and local officials who face steeper land costs as they plan freeway expansions, school construction and other civic projects.
Officials with the California Department of Transportation, the Los Angeles Unified School District and other government agencies report paying double and triple what they estimated land would cost when planning on the projects was launched years ago.See the full content of this document
Extract
Rising Real-Estate Prices Stall Civic Projects
"Our problem is, we can only move when we have funds in place. Until that time, we can't say, 'Let's buy now when prices are low,'' said Velma Marshall, director of real estate for the Metropolitan Transportation Authority, which recently acquired land for the Oran...
See the full content of this document
Sponsored links
