The Littlest Home: A Story of One Developer and His Dreams

Once upon a time there was a spry young man, full of ambition with a keen eye for real estate. As he grew, so did his community and he watched in awe. On his way home from school, he would sit and watch as foremen and journeymen hustled from rooftop to elevator, heaving loads of lumber and skillfully applying their trades. Then, one magical day, the noise and rubble gave way to a magnificent new structure, towering over its brothers; gleaming with new steel and fresh paint.

For a long time, this is how it went and the boy longed to be a part of it. He studied hard. His free time was spent dreaming up designs and building plans. In the years to come, he worked tirelessly as an apprentice, following in the shadows of his superiors, quietly laboring and learning all the while. Finally the day came when he had enough seniority, experience and skill to develop a building of his own. This was his moment of grandeur.

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Real estate and the economy had seen a huge boon in recent years and the young developer had no trouble acquiring financing. He had become well known for his design work and had assembled the best team of contractors, subs and mortgage brokers known in the industry. His debut building was a massive undertaking with 350 units in a highrise overlooking the harbor. The units were upscale and grand. No expense was to be spared on the amenities. Only top of the line fixtures and built-ins were allowed.

Half way through the building process, our young developer began to incur cost over-runs. The project was well over budget and small luxuries were scaled back. Then the economy took a nose dive. Wildfires to the south increased the demand for labor and depleted resources. Disposable incomes plummeted and free financing came to a standstill. The poor boy was left with a major mess on his hands. But this was his life’s work and he was determined to see it through.

Back to the drawing board he went; cutting corners, shrinking units, adding here subtracting there until he made the project work. Surely, he thought, 700 units at half the price would sell more readily than fewer at twice. Wrong. The development lost its charm and appeal, leaving nothing more than an over densified monstrosity behind. So it sat, empty and all alone. Its own stagnation fed itself and nobody wanted to go near. It stayed that way for quite some time until a local housing corporation picked it up. The City threw in some grant money and the building was converted into a mixed use development. Now there’s a Starbucks and Quickie Mart on the ground floor with 23 stories of apartments above.

Where is our hero now you ask? Nobody really knows but some say that if you listen late at night while all the world’s asleep you can hear his cries rolling across the bay from far, far away.

The End