This article is about the continued battle by residents of the reverted areas against the supreme court decision to change the zoning law of the areas. Allowing high rises in an other wise low rise residential area has caused those folks enough grief that they have been protesting for weeks. They may not have to worry though because there are cracks beginning to be seen in the condo market in the city that may force the cancellation of many of these projects. I received a note today that the Canal 360 project has been canceled due to “rising construction costs” and to” zoning laws in Amador hills” where the project was to be erected. I know of investors who got into that project over a year ago who were looking to make money by flipping who will now get only their money back plus 6% interest.
Residents continue protesting zoning changes
As of yesterday, residents of Albrook and Clayton and their supporters have been protesting in front of the Corte Suprema for two weeks.
The protestors insist that a recent law that changes the zoning rules in their neighborhoods is unconstitutional and opens the way for unwanted high density developments in what are known as the reverted areas, that is, property that the
“The Palacio de Justicia is for correcting errors, not for condoning horrors,” the protestors shouted yesterday. They said they would continue protesting indefinitely.
Residents of the reverted areas suffered a setback last week, however, when the Corte Suprema affirmed the constitutionality of the law when it resolved a complaint brought before it by legislator Leopoldo Benedetti.
Yet they have not given up hope. Two other complaints of unconstitutionality, brought by residents and their lawyers, are still pending before the court.
In the first judgement, four of the nine Supreme Court justices abstained from voting: Hipólito Gill, Esmeralda de Troitiño, Luis Mario Carrasco and Oydén Ortega, who apparently consider the law unconstitutional.