COMMENT OF THE DAY: THE RENTS ARE TOO DAMN HIGH “Finally some progressive thinking from a Houston property owner. Houston is filled with vacant junk space left over from failed retail projects priced at ridiculous, speculative prices. The kind of development necessary to pay the outrageous rent asked by property managers and owners for dilapidated spaces just isn’t supported by the market here. There are only so many Applebees etc. that can be crammed into a given area. I’ve never figured out why keeping a space vacant is better than reducing the rent and making it accessable to artists, creatives, and small business owners. If things go well for them the neighborhood becomes more viable and lively, crime goes down, rent goes up and it’s on to the next neighborhood. It’s a win for everyone.” [JE, commenting on New Arts Complex Planned for Abandoned JCPenney at West Oaks Mall]