Bidding war on houses

[BladesNBarrels]

Seems to me there is already a glut of commercial buildings, especially retail spaces. Big malls are only half full (if that) and there are some commercial strip-mall type developments that were put up in the boom years of 2007 - 2009 that are still sitting vacant a decade later (I'm thinking River Pointe in Sheridan, for example.)

Seems to me there is an opportunity there, though. If we have too much retail space + not enough living space, how long before someone figures out how to turn the former into the latter?

Local community zoning commissions don't like to downgrade the zoning of a property.
Commercial pays the majority of property tax by Colorado Law, so rezoning to Residential is a real tough sell. (There is a pun in there somewhere)

[Martinjmpr]

Local community zoning commissions don't like to downgrade the zoning of a property.
Commercial pays the majority of property tax by Colorado Law, so rezoning to Residential is a real tough sell. (There is a pun in there somewhere)

How much revenue are they collecting from unoccupied commercial space though? Can't be much.

Five percent of something is more than ten percent of nothing.