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A pause on a problematic affordable housing plan, an urban development project to be built without public funds, and a historic theater’s surprise honor. From the wild and wooly world of real estate, here are our Hits and Misses for July 22-28.

Hit: Not So Fast, Mike! Kudos to the Denver City Council for hitting the brakes on Mayor Mike Johnston’s proposal to increase the sales tax to fund affordable housing development. The proposal, which was floated earlier this month, would add an extra 0.5% to the city’s current effective 8.81% sales tax rate. Johnston, a Democrat, claimed this new tax would raise an estimated $100 million a year, but the council is demanding more details on the proposal’s impact on residents before it would vote on the proposal. If approved, the sales tax rate would face its eighth increase in 10 years – and Wellington Webb, who served as Denver’s mayor from 1991 to 2003, publicly warned Johnston that “the public is getting tired of taxes.”

Hit: Power to the Private Sector. More kudos go to the owners of Chicago’s United Center indoor arena, who announced plans for a $7 billion, 55-acre mixed-use campus around the property that will include housing, a 6,000-seat music hall, a park and pedestrian-friendly spaces. If this goes forward, it will be the largest private investment in Chicago’s West Side – and the project is expected to create an estimated 63,000 construction jobs, 12,000 permanent jobs and $4.5 billion in annual economic impact, as well as $104 million in annual tax revenue. And unlike recently announced plans for a new stadium to host the Chicago Bears, this project would not seek any public funding.

Hit: Pushing Back on Cancel Culture. Commendation goes to the Toronto City Council for reversing its harebrained decision to erase the name of a prominent early 20th century businessman and philanthropist from a historic home because of spurious claims that he was racist. CBC reported the city council voted in April to remove Robert Stapleton Caldecott’s name from the heritage designation on his former home because of his writings on immigration – Caldecott insisted that newcomers to Canada should only be people from the British Empire. However, a 15-page report signed by 19 of his descendants argued that Caldecott “did not separate people by race or creed,” noting the British Empire of his era encompassed a wider (and nonwhite) world. Caldecott’s descendants added the “only people he would have attempted to block from entering the country was the likes of American merchants in order to protect and build the young nation of Canada.” The city council agreed, and Caldecott’s name and reputation have been rightfully restored.

Hit: An Unexpected but Worthy Honor. The intersection of real estate and show business occurred this week as the Apollo Theater, the legendary performing arts venue in the Harlem section of New York City, was named among the winners of this year’s Kennedy Center Honors. This marks the first time that the award will be given to a property rather than a person. But, then again, the Apollo – which is celebrating its 90th anniversary – is more than a just a theater. Kennedy Center Chairman David M. Rubenstein referred to the Apollo as “one of the most consequential, influential institutions in history, has elevated the voices of Black entertainment in New York City, nationally, and around the world, and launched the careers of legions of artists.”

Hit: Maintaining a Sense of Humor. To an outsider, it would see there is very little to laugh about in the Middle East. But kudos to Israeli comedian Orel Tsabari who highlighted the absurdities of the region’s seemingly endless conflicts. In a television appearance, Tsabari prank called a real estate agent in Syria by pretending to be the wife of a member of the Hezbollah terrorist group. In the call, Tsabari claimed he wanted to buy a property with direct views of Israel so his “husband” could launch rockets across the border. In view of the existential threats faced by Hezbollah and Hamas on their borders, it is invigorating to know that Tsabari and his fellow Israelis have not lost their sense of humor. The video of Tsabari’s prank call can be seen here.

Hit: A Crowning Glory. Congratulations to Peyton Lewis, a global real estate advisor with Premier Sotheby’s International Realty’s Southeast Orlando office, who was crowned Miss Florida USA 2024. Lewis specializes in selling investment and residential properties and assisting customers in finding their dream homes. Lewis, who is pictured here, will represent the Sunshine State in the Miss USA 2024 competition. She stated, “I look forward to a year of supporting causes like attainable housing and making a positive impact on not only my community but those all across the state of Florida while inspiring everyone to not give up on their dreams.”

Phil Hall is editor of Weekly Real Estate News. He can be reached at [email protected].

Photo: sitox / iStock