Thursday, July 17, 2008

News of good from the old 'hood ...

I just saw a post on the Trinity Park e-mail list (yeah, I still subscribe--some days it was the cheapest entertainment around) about the site of the massive proposed condo development that caused such a kerfuffle last year. Apparently the owners of the site have submitted a design package for a 13-unit (which would need no special use permit) luxury condo plan for the site.

The poster, a member of Neighbors For Sustainable Development in Trinity Park, has an initial favorable opinion of the proposal. There will be a public forum on the project Monday, July 21st at 1:30 p.m., when the site plan will be reviewed by the Design District Review Team (DDRT) in Conference Room A, Ground Floor, City Hall.

I wonder if my new 'hood has an e-mail list?


Anonymous said...

The current real estate climate, has had a sobering effect on their greed. Enough buyers getting loans for the old large project would've been more difficult, because of the lack of comps and overall climate. It could be argued that the TP Association did them a favor by not allowing them to start the old project. It would've been finished just in time for the dramatic real estate slow down, and they would lost their shirts. They would have eventually sold the units, but it would've taken a long time (perhaps years), meanwhile they would have had to carry and finance the debt. The go go days are over.

Lisa B. said...

Good point, Anonymous. Then we (well, not so much me anymore now that I've moved) would have had a big, mostly empty hulk of a condo building, probably falling behind in repairs, on the edge of the neighborhood. An attractive 13-unit development will probably sell fairly quickly (if they are intelligently-priced, unlike the ugly condos at Trinity and Washington). It's a good location. I'm glad it seems to have a suitable project.