Quote:
Originally Posted by Zoot
As a YIMBY member of CCRA with a direct view of this lot, I will counter that we can't rubber-stamp this project because it's tall and provides tax dollars (which will be abated mind you). CCRA is flawed and can be a pain to deal with, but it is the only forum we (and I am including "you" in that "we") have to work with developers to get a better product. Let's look at things carefully and not accept the first iteration that lands on our door. 10 Rittenhouse may have been delayed for eons, but it would be far worse if approved in its first iteration.
And it sounds like the preservation factor is still up for debate. Renderings include the historic properties but the insider here claims they are included in the demo plans. Perhaps only the interiors are included in the demo plans? That makes more sense. But if there are full demo plans for the site, then SLC has even more gall than I thought. Their demolition has not yet been approved - nor should it based on a remediation cost that would still be a line item even if the properties were demolished.
P.S. Thank you for the "welcome" but I've been an active reader since 2006. I just don't comment very often. I bite my tongue frequently. I work in the industry and I am amazed by the misinformation that gets spewed and then gobbled up in some other threads.
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Yes, 10 Rittenhouse was delayed so long, that it came on the market during the economic bust and was unsuccessful to the point where the building and previous developer went bankrupt, and it had to be bought by Dranoff. Is that what we want to do to our developers? Haha.
Feel free to comment more frequently on any misinformation. All viewpoints are welcome here
And I don't disagree with you about pushing for great design, but I also feel there are quite a few NIMBYs in the Rittenhouse area that will fight tooth and nail and delay a lot of otherwise great projects.
Although the condos/apartments THEMSELVES may be abated, there will still be tax paying residents living within the condos/apartments - a lot of them mind you. Not only that, but there will be leasing and sales staff for the building, concierge, maintenance, cleaners, and a large retail space that could create over 100 jobs alone. All of these people will pay taxes, and this will create jobs. Not to mention construction jobs which will also generate taxes for the city.
There is a lot to consider, and after already paying $30+ million for the lot another $1.5 million just for abatement is quite a lot. This does not include the redevelopment of the structures which could cost another couple of million dollars. Then to ask the developer for a nice design on top of that and we're really getting into big numbers. Probably looking at $50+ million when all is said and done before this even gets into the ground and before we start adding construction costs.
All I'm saying is this lot has sat vacant for far too long, and the NIMBYs shouldn't curb the development over a few small, forgettable buildings. This lot needs to be developed this go around to not risk it sitting vacant for another 10 years.