Quote:
Originally Posted by City Wide
Well said. Thanks! Anyways its all just idle speculation until whenever Parkway does something. If the seller was Walnut St. Theater I don't understand why they would sell for what seems to be a low price. That area seems to be ready to pop, considering the recently announced projects.
Does this type of sale quickly change the properties value in terms of the City real estate tax? It certainly sets a market based price, and I'm betting the present taxes are based on something MUCH lower then $7.5M
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While we are idly speculating on the low price, maybe parkway agreed to maintain the status quo while walnut Street continues fund raising and eventually building their addition. Not sure where precisely the addition is planned but being boxed in by a skyscraper next door could perhaps cause things to move slower and increase costs.