Most benefits arising from the construction of high-rises accrue only to the developer.
While the individuals who purchase the condos get the benefits of unfettered views and wonderful facilities, they have paid a high price to the developer for what they get. The city receives none of this profit.
As for Bosa providing the “excellent facilities”, the city paid dearly for them. We sold a very valuable piece of land plus airspace and got a 12,000 sq ft shell that the city was required to complete plus 60 parking spaces that cost us over $2million
Bosa got the deal of a lifetime along with an interest free mortgage and 2 extra storeys after the fact.