It seems real estate construction types are finally -- finally! -- realizing in 2009 that no one can afford their mindnumbingly thoughtless, albeit impressive and mildly erotic, InfinityBeaconOneRinconBLŪ luxury towers. San Francisco Business Times has more, but here's a frank, death-of-fun quote from one of those coalition, do-gooder types. AHem:
"The frills are coming out," said Tim Colen, executive director of the Housing Action Coalition, who advocates for housing in the city. "No concierge, no fitness room, and much smaller units. These are the coping mechanisms for the new era we’re in."
goes on to say, now that the condo housing market has slowed down to a dead man's crawl, developers in San Francisco must focus on three things: "rental housing, cheaper midrise construction and innovative, new financing."SF Biz Times