Fri, Aug 03 2012 at 11:59 PM
Yes, assuming the resurrection yields a superior economic effect for whoever is in possession of the asset...the original owner, his lender (through payment default) or in some cases, the municipality (through tax default). Remember that potential new capital is always very sensitive to risk and so any plan has to respect the realities of risk/reward ratios...pie in the sky doesn't play well with the banks (anymore;-).
Fri, Aug 03 2012 at 11:56 PM
The greatest asset these properties possess is their land: its location, size and physical relationship to their community. Their liability is their inflexibility for change due to ownership, financing, design and municipalities' typical inertia...which cannot be underestimated...however, some will succeed in overcoming these obstacles and they should be supported.