what this spot needs is IKEA!!! Bring on the Scandi invasion!
6 Likes
Word on the street is CityPlat is going to build a dog park here. I think there’s a YouTube video on it.
9 Likes
I went to the neighborhood meeting last night. The developer was NOT there but his attorneys were. There are NO plans at this point (as we all knew). This is strictly a rezone and hold situation. Mixed use Commercial 20 Stories with conditions to be determined. The attorney was honest in saying that the lending and world situation right now did not lend itself to development but that they want to be ready when the market turns around. No opposition per se. Just questions. About 15 people in attendance. Good discussion. I don’t think they will have much issue in getting this one passed.
10 Likes
So do you mean that they aren’t even going to renovate the kmart building? Or is that part of the project still on?
That was not mentioned
@orulz !!! It’s CityPlat!!! NO they ain’t gonna renovate the damn Kmart building!!! Come on we knew this from the moment they purchased lmaooooo
10 Likes
But each time we get so hopeful!
4 Likes
It’s right there in their name: CityPlat
Plat
noun
-
a plot of ground.
-
a plan or map, as of land.
Why do we expect anything more out of them?
5 Likes
Renovating the building isn’t something the zoning attorney would know or care about, since it wouldn’t be affected by rezoning one way or another. Getting rent from the building is a way to cover the taxes while they speculate on the land (“covered land play”). But I wouldn’t hold out for anything like a grocer, who’d require a long-term lease and lots of equipment.
20 stories seems like a stretch here since high-rise will never pencil, and it has a -TOD bonus which pushes things even higher into won’t-pencil territory. (OK, I realize there’s a high-rise next door, but that was built at a time when high-rises didn’t face anywhere near the cost penalty they do now.) Then again, 7 stories probably isn’t enough given that even a mid-rise here could gain some elevation due to the slope.
2 Likes
Hold up… you have discovered something lmao
1 Like
All of that notwithstanding, I am just glad that this is out of Sneeden’s hands, who was dead-set on redeveloping the K-mart as an updated, Harris Teeter-anchored strip mall.
11 Likes