[quote=sdcellar]That said, are you suggesting there’s a meaningful difference, because that would be fun to debate. You’d be surprised the ingenuity people can bring to bear when it comes to “discovering” buildable land. Why one need look no further than, well, Point Loma and the aforementioned Liberty Station.[/quote]
For a built out area, unless the city change its zoning for a particular plot of land, yes, they’re not making any build-able land. Liberty Station land has always been there, they just rezone it. That’s not very common and usually is much more expensive/difficult than buying a plot of land that has nothing on it and is zoned for residential. My guess is that Liberty Station only happened because of the RE bubble. Where the builder did their calculation and even w/ the extra cost of getting the land rezoned, they’d still make a profit.
