Don't forget the evil university endowments flying under the radar of non-profits. They destroy local shops & economy by replacing them with either for profit corporate tenants who can pay exuberant rents, or worse, empty, abandoned, desolate buildings with exuberant mark-to-model real estate values.
Harvard and Kendall Squares in Cambridge, MA are the best examples of what ruthless endowments do. Kendall Square is entirely owned by MIT and is new shiny and totally unaffordable to non-VC/PE crowd and shuts down after dark.
Harvard Square is replete with empty buildings worth billions on HMC's books. The late night 2-story Starbucks with lots of seating and occasional live music is gone and replaced with a tiny one with no seating which closes at 9pm.
Harvard and Kendall Squares in Cambridge, MA are the best examples of what ruthless endowments do. Kendall Square is entirely owned by MIT and is new shiny and totally unaffordable to non-VC/PE crowd and shuts down after dark.
Harvard Square is replete with empty buildings worth billions on HMC's books. The late night 2-story Starbucks with lots of seating and occasional live music is gone and replaced with a tiny one with no seating which closes at 9pm.