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"This report rightly draws a link between increased debt and stagnant wage growth, at a time when rent and transport costs continue to rise.
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But the underlying idea is to wring out more value at a time when rents will not support new construction.
The move cuts British Land's exposure to the financial sector, at a time when rents have come under severe pressure from the recession.
The authority has been reluctant to finance more speculative office space at a time when rents are down and tenants scarce.
At a time when rents in my neighborhood are skyrocketing, I find your fascination with kooky, affluent urbanites obnoxious at best.
Explaining the switch from rental to condo, Mr. Davis said: "We have a high-end product in a location that is growing in popularity at a time when rents are spiraling.
Officials in the real estate industry also praised the accord, saying the wage increases were modest and the industry could afford them at a time when rents and condominium prices are soaring.
It comes at a time when rents are rising at almost twice the rate of wages, said Shelter.
"We were all completely wrong the last time, when rents in Midtown climbed to $125 per square foot last year," said Jeffrey Schotz of GVA Williams in New Jersey, "and we thought it meant a trend of relocation to New Jersey.
Mr. Thomas said the project was opening at a time when monthly rents for existing rentals have risen about 10percentt a year for each of the last two years.
"This comes at a time when unaffordable rents are pushing more people into homelessness, in turn increasing costs on local government".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com