CASE STUDY 15

In 2010 developer Bruce Becker (SOM '85) completed 360 State Street, a major new construction project in downtown New Haven. The building was a 32-story high-rise with 500 apartments, a parking garage, and a grocery store on the street level.

The building was a remarkable accomplishment. Built during a recession in a neighborhood that the city's elite avoided, the development became an immediate success. In less than two years, the apartments were almost fully occupied, the grocery store was attracting 8,500 customers per week, and other landlords on the block began to open new businesses. For many New Haveners, the achievement of 360 State Street proved that after years of post-industrial decline, the city was finally experiencing a renaissance.

Just west of the apartment building on the corner of Chapel and Orange Streets, a 6,000-square-foot pocket of land from the original parcel remained undeveloped in 2012. Becker was considering constructing a four story building with the upper floors leased to law offices or other professional service firms with a still undetermined use for the ground floor.

In the summer of 2013, Becker had a number of alternatives to consider in regards to the site. He also had no obligation to build. He could bide his time. But Becker also worried about losing out on rents should he wait too long. Under what set of circumstances and at what time would it be most advantageous to proceed? In 2010 developer Bruce Becker (SOM '85) completed 360 State Street, a major new construction project in downtown New Haven. The building was a 32-story high-rise with 500 apartments, a parking garage, and a grocery store on the street level.

The building was a remarkable accomplishment. Built during a recession in a neighborhood that the city's elite avoided, the development became an immediate success. In less than two years, the apartments were almost fully occupied, the grocery store was attracting 8,500 customers per week, and other landlords on the block began to open new businesses. For many New Haveners, the achievement of 360 State Street proved that after years of post-industrial decline, the city was finally experiencing a renaissance.

Just west of the apartment building on the corner of Chapel and Orange Streets, a 6,000-square-foot pocket of land from the original parcel remained undeveloped in 2012. Becker was considering constructing a four story building with the upper floors leased to law offices or other professional service firms with a still undetermined use for the ground floor.

In the summer of 2013, Becker had a number of alternatives to consider in regards to the site. He also had no obligation to build. He could bide his time. But Becker also worried about losing out on rents should he wait too long. Under what set of circumstances and at what time would it be most advantageous to proceed?

1. Which monetary term ___________is used to represent dissimilarity in income distribution______________

2. The value of the respectable or provision forgone by_________ choosing alternative investment is called____________

3. The dominant role of marketplaces________ is to control the___________

4. The subdivision of financial side disturbed with ________overall presentation of the reduced is known as_________

5. The branch of economics concerned with the use ___of statistical methods to obtain empirical results for economic relations is known as__________

6. The branch of money matters afraid_________ with the comportment of markets, firms, and families is known as________

7. An economy is producing professionally________ when no personality's commercial welfare can be better-quality without___________

8. Taxes are used to discourage __________ of a commodity.

9. Subventions are used to hearten __________ of a commodity.

10. Which from the succeeding monetary resources cannot be ______--transformed into commodity_______