> In that case land acquisition costs make it too pricy since attractive downtown plots in a big city like Toronto are easily hundreds of millions per acre. Because they are zoned for 40+ story buildings. And why would any land owner seek to zone for less than the maximal allowance?

> If you mean forced downgrading of the zoning or replacing existing suburbia with mid density developments, or subsidizing mid density as opposed to suburbia, that’s an entirely political conversation since the roadblock is zoning laws and the legislature.

You appeared to be claiming that land will be left vacant in the absence of political changes (with the frankly bizarre suggestion that land needs to be downzoned to encouraged more building). If that wasn't what you were claiming then what were you claiming?

You need to understand the fact that many are willing to own bare land and put it to its less than theoretically optimal usage. In fact they will fight against attempts to develop it.

It's called land banking if you haven't heard of it before.

I'm not sure how any of your comment follows.