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The context of that conversation was in a looming housing crisis. This was before the Hiawatha encampment made it much more visible.
In any case I was and am active in the city level politics and I was looking for a rough estimate to price out literally just building new apartments for everyone that needed a home.
Basically he was saying “but nobody does that,” and he’s right. And I wouldn’t expect him to. But, just for the record, from what I found at the time chatting up a few developers…
… it would have cost less than the cities-then budget for dealing with the housing crisis. But people want to be assholes for some reason.