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Friday, September 12, 2008

Update on Memorial Apartments

There were some updates this week in the press concerning the apartments on Memorial Parkway (mentioned here in a post from this past December). There appeared to be some contradiction in the articles between the developer, the Enquirer, and City Council.

What is clear is that the development has been delayed (The Enquirer uses the word 'halted') until at least next year - see the first article here.

A follow-up article, a day later, appeared to be a response from the developer as he indicated it was just postponed. The developer seems to indicate that it will be re-started in the spring but has been postponed. While these types of delays are generally ominous, the developer makes a point about the investment that has already been made (almost $1 million to date) and the market potential given the great views of downtown.

Some of the big questions that remain include:
  1. Will the developer do enough to prevent erosion and keep the lot that has been cleared from becoming over-grown and unsightly?
  2. Will the city complete the sidewalk in front of the development or will that section remain unfinished until the development is re-started?
  3. Did the city do enough to qualify the developer if the project was as big as it apparently is?

1 comment:

  1. With regard to #2, I'm almost certain hat the developer was on the hook for the sidewalk. It was the first thing I thought about when everything stopped: "oh crap, there goes the sidewalk for a few years. If I'm living there now, especially if I have kids, I'm pretty p****d.