Quote:
Originally Posted by oldmanshirt
Its a boutique hotel.
That just seems unlikely to me that the prop owner would go to all that time, trouble, and expense. This is DT, after all, there's plenty of hotels with river-level dining and retail. What is this going to tell potential buyers that they couldn't figure out for themselves, other than how anal HDRC can be?
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One thing it could tell potential buyers is that, if it got past the HDRC, is how much it
is worth. The property owner, once approved by HDRC, could sell the land with plans and make >5X what it is worth now. But as of right now, all he can do is sell it for what it is and what we, or potential buyers, see it as; an eyesore and decaying property with alot of hurdles in the way.
- Approval from HDRC and sale; buyer can build a 24 story hotel on property.
- No approval by HDRC and sale; buyer has to "see" what he can do with the property.
I think it would be and is in his best interest, and worth the expense for him to squeeze whatever potential this property has out of it. I don't think this battle is done, or that it just won't happen. I just don't think it will happen right now. But it is a starting point for that property and it is good to see owners being active (unlike other mentioned fossil/antique/old building/crap owners.)