When it does do a deal, Minerva is likely to benefit from rising City rents, driven higher by a shortage of new office space.
But they recently announced that they'll be closing the Chestnut Street location because of untenable rents — driven up, in large part, because of the well-paid techies who chow down on its huevos rancheros every day.
WALL STREET JOURNAL Tech Boom Drives a Favorite Hangout to Close | The Grove restaurant in San Francisco said it was closing its flagship location on Chestnut Street because of untenable rents, "driven up, in large part, because of the well-paid techies who chow down on its huevos rancheros every day," the Bits blog writes.
There were lots of jobs for "earthquake mechanics," but at wages that could never keep up with escalating rents driven by real-estate speculators. .
Brooklyn booms as record rents drive construction.
The lure of cheaper rents drove restaurateurs to Brooklyn -- and to the Lower East Side.
As Turkey's economy exploded, kebab shops turned into conspicuously European cafes, squatter buildings bloomed into boutique hotels and high rents drove the poor to the city's periphery.
Some travelers also say rental companies are more aggressive about charging for damage to a rented vehicle, and more lax about making sure there is no damage before the renter drives it off the lot.
The dot-com gold rush is blamed for introducing Manhattan-style traffic jams and unwanted development into San Francisco's famously picturesque neighborhoods, while skyrocketing rents drive out artists, cultural groups and working-class families.
After driving a Zipcar for a few hours, I returned it to the lot in Brooklyn, where it was always parked, at 9 p.m. Unfortunately, at some point after that — and before the next renter drove the car away the next morning — the side mirror was cracked.
