If you wanted to make a lot of money betting on El Paso’s future, vacant lots would be the way to go.
If you’d bought vacant lot futures back in 2010, you could retire now.
Downtown used to have a lot of empty buildings. Now it has a lot of vacant lots.
I guess if you needed a field of fire, or a safety perimeter, a vacant lot is a good idea. String some razor wire, build a nest.
If we could harvest those vacant lots, and roll them up, and put them on a flat bed, we could ship them off to the edge of the city, where developers need vacant lots. I bet they’d pay top dollar for some high grade, ready-to-build, vacant lot.
How many vacant lots could you fit on a flatbed, if you stacked them up?
El Paso billionaire Paul Foster recently had a Downtown retail building demolished to expand adjacent vacant land where buildings were taken down several years ago — making way for possible future redevelopment.
. . .
Foster has no current plans for the vacant land, [William Kell, chief operating officer of Foster’s Franklin Mountain Investments,] said.
“. . . possible future redevelopment.”
Mr. Foster should load up his truck and peddle those vacant lots out on the east side. Then he’d make some real money.
Property taxes are lower on empty land than that occupied by even vacant buildings.