[RP TownTalk] Patriot Group "Condominiums"

[Bruce Wernek]

I noticed in the last series of emails that the units in this building are
referred to as condos.  The developer has openly admitted that they will
rent the units if they can't be sold.  Condos are being sold in the
$200-300k range adjacent to the PG Plaza.  Why would anyone pay ~$150K more
to live in our Town Center given it's state and the proximity to the
railroad tracks.  As the interest rates increase, less and less people can
afford to buy a home so they have to rent.  The Patriot Group is well aware
of this and originally presented the building as apartments.  I don't think
their business model has changed, just the wording.  Please keep this in
mind when making any decisions on this project.

Bruce

-----Original Message-----
From: towntalk-bounces at riverdale-park.org
[mailto:towntalk-bounces at riverdale-park.org] On Behalf Of Roland Walker
Sent: Saturday, June 10, 2006 8:14 PM
To: towntalk at riverdale-park.org
Subject: Re: [RP TownTalk] Patriot Group "Condominiums"


This is an excellent and constructive proposal.

This is exactly the type of thing that was (more or less) out of bounds for
the MUTC committee in their role as a zoning review board. Now that MUTC has
finished its work, and the question has moved to the purely political side,
there are no longer any artificial constraints on what the town can ask for,
and what the town can offer in trade. MUTC has the ability to consider
certain benefits when granting a variance, but zero ability to offer
creative trades.

Along your same line of thinking, I would ask the developer to take the
council and maybe some interested citizens on a tour of some of their other
completed projects.  It's not as if we would have to go far to see them.
And one presumes that they are proud of their work.

I mean, if their work is good, then seeing their projects up close would
provide the strongest argument in favor of building, right?  So show us.

R

On 6/10/06, David Hiles <hilesd at mindspring.com> wrote:
> My messages to this list are being moderated because I was judged to 
> have violated the posting standards.
> ************************************
>
> It would be nice to know how these proposed units compare to other 
> recently constructed and well received condominiums in comparable 
> areas of the metro area.  Are they undersized and under-amenitized or 
> perhaps actually competitive in design?
>
> It is common in residential real estate to look at 
> "comparables"--recent sales of comparable units in the area.  Could 
> the developer or town staff prepare something similar?
>
>
> WE are who we have been waiting for. 
> http://riverdalepark.blogspot.com/
>
>
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