What concerns me a bit is...... somehow through the magic of money, we give John W the pipe farm where he can build his houses and he buys the old hospital site across the street. He leaves a corner of the property for future development of 30,000 square feet of commercial developments. We then have a 19 acre piece of land across the street, that we really cannot develop for about 10 years since there are buildings on it that have leases and we have a lease on our city hall space and it really is not our problem because I know I will not be here then and none of the current city council are likely to still be on council so it will be someone else’s problem. (WHEW)
I should have paid more attention.
Before Greg has a fit, it is true that it may cost a few bucks to finish the streets and stuff, but the minimal investment in return for the building of 110 homes is well worth it. I am sure now that Greg is a columnist (not sure what publication) he will be loaded with facts and conspiracy theories, but he is the new expert since he stayed in a Holiday Inn last year.
Sounds risky? It is. The financing is risky, the speed at which all of these financial transactions have to be completed are concerning and the rebound of the housing market is critical to its success. Add that to the 19 acres that may not be developed for 10 years, the gamble is huge. LAND SPECULATION