Quote:
Originally Posted by gardensoul
Foundation Communities is an amazing non-profit! One of the coolest things they do is provide after-school mentoring and classes for the children living at their sites. At the M Station (by the MLK rail stop) they have boosted the average GPA of their kids to over 3.5!
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Don't get me wrong...that is great. I'm glad they help increase GPA's.
However, in the real world of business, this project has already lowered the values of every property within a few blocks of the proposed site. If the purchase deal closes, they are buying the site for several hundred thousand less than tax appraised value. Furthermore, should the proposed low-income housing project be built on the site, it will further devalue the surrounding properties!!!
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