Tommy Dobczyk says county zoning rules that block hotels and luxury apartments on beachfront land kill investor returns. Developers spend money on lawsuits instead of building, making projects uneconomic.
Are you in the deal room? Again, I think it doesn't— ready for this— it doesn't make sense for an investor to invest here if he can't maximize a dollar. And he's not going to be able to maximize his dollar if he can't build hotels and, and 6-story apartments. I mean, it's right on the beach. Beachside property is right on the side of the mountain, on the side of the beach. Like, not being able to have a hotel or, or luxury apartments there, that's the highest and best use. But the county's like, nope, ain't gonna do it. You literally have to sue the shit out of them to get them to let you to do it. And then it's probably not worth it. It's— the money's there. So investors don't look at something and think, how can I make the minimal amount of money? They think, how can I make the maximum amount, right?
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