Tuesday, March 22, 2005

Imminent Donations

The common council has voted 11-3 to designate Park South an "urban renewal area" which is the first step on the path to eminent domain. Good news for developers. And there are currently three in the running for this project. Of course there is BBL. You've got to expect that. Then there is WinnCompanies from Boston. And lastly the somewhat mysterious State Street Partners working with the even more ambiguously named XO Projects. These people are working in conjunction with local firm and city zoning board favorites Hershberg & Hershberg. State Street Partners recently bought an apartment building on State street for $1.5 million. I'm thinking they might be a contender.

So, imagine if you are paying your mortgage this month knowing the city has the right to come and "buy" your house from you. Not too pleasant. Resident Thelma McCargo:

"The city just has been waiting for the right time to seize our homes, they are going to steal it from us, tear it down and give it to private developers."

Well, if these people are still in the city on September 7th, I bet I know how they'll vote in the primary.