01-29-2019, 07:42 AM
Yes. The Mount Hope Breithaupt Park Neighbourhood Association scooped the Record by about two months. The price is double what the highest bid last time around was, but that bid was a joke- the property at the time could not have been sold for less than the tax bill, and anyone who was conducting due diligence would have known that, and thus withheld his bid. There could have been plenty of interest in the property at any range less than a million dollars; it's impossible to know.
There is also (a bit) more clarity on what the municipal government expects and doesn't expect from the building- it has signaled that it is fine if portions are torn down, and that zoning would be relaxed to allow for (for instance) a six-storey building with retail on the ground floor.
We'll see if that makes the numbers work for someone. It might! And that would be the perfect kind of development to see here.
There is also (a bit) more clarity on what the municipal government expects and doesn't expect from the building- it has signaled that it is fine if portions are torn down, and that zoning would be relaxed to allow for (for instance) a six-storey building with retail on the ground floor.
We'll see if that makes the numbers work for someone. It might! And that would be the perfect kind of development to see here.