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Old Posted Mar 1, 2024, 11:09 PM
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plinko plinko is online now
them bones
 
Join Date: Jul 2001
Location: Santa Barbara adjacent
Posts: 7,696
^Fascinating idea, and could be done under the guise of 'public safety'. However, the city/county would have to partner in order to complete the project. Nobody is going to do that unless they ended up owning it at a substantial profit. I suspect neither the city or county has even the funds to pay that profit. Maybe there's a hybrid solution where like 30-40% of the units could go 'public servant occupied' and the rest go market rate.

It's really too bad, because these were aesthetically turning out to be some of my favorite multi-family towers in downtown. They make a nice architectural nod to the Gas Company Tower up the street.

Another year unsecured and unwatched and we might end up with this:
https://en.wikipedia.org/wiki/Centro_Financiero_Confinanzas

I actually saw this tower in 2001 before it was taken over. It had already been sitting 7 years by that time...
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