Just got to write up today's meeting on Glen Lennox -- twice. First a short story for tomorrow's N&O and then a longer piece for Wednesday's CH News. (Trick is making that second one fresh by the time you read it; tell me how I did on Wednesday.)
Anyway, it's an interesting story. Grubb told residents his company needs to redevelop to make money. He said they spend $100,000 marketing the half-century old cottages. In other words, despite the love many Chapel Hillians have for them, they're not first, or second or third, on most renters' lists. At least not until recently. It's only with the recession, Grubb said, that occupancy has reached the mid-90 percent level.
He's an interesting guy. Skinny and talks about his mom a lot (how she would have opposed that first redevelopment plan, the one with three parking decks and a high-rise hotel). He listened patiently for two hours and then stayed to talk with everyone who came up to him afterward. He freely admits the company blew it the first time around.
And for now anyway, he's in no rush. The recession has slowed the development business and given him time to think about Glen Lennox he says he didn't have a year and a half ago. And he says it's a two way street from here out. If he can redevelop part of the property, he thinks he can preserve the affordable housing on other parts.
"Glen Lennox has a heart and soul," he says. "[But] we can't preserve it the way it is."
Comments
It's an interesting shift to
Tue, 02/10/2009 - 13:10 — anitabadrockIt's an interesting shift to start including the rental market as part of an affordable housing discussion or an NCD. .
Old vs. New
Tue, 02/10/2009 - 12:15 — ClaudiusIt's amazing how people with their own limited priorities can be such a loud and negative force when it comes to reasonable growth and development in our community.
Advocating to keep old, rundown and inefficient residences intact instead of replacing them with environmentally-friendly, energy-efficient housing is shortsighted self-interest at its worst.
Claudius - how much would it cost
Tue, 02/10/2009 - 13:50 — marcoplosto render those existing buildings energy-efficient? And what figures do you have related to the replacement costs of the building materials and the costs of landfilling the debris?
Conference in Raleigh on Growth
Tue, 02/10/2009 - 09:26 — rabid1With limited water resources and underfunded schools, doubling the number of units at Glen Lennox is the height of irresponsibility.
If Grubb had to shoulder the true costs associated providing the schools and infrastructure, redevelopment would not be economically feasible.
It is only feasible for Grubb, because the overwhelming burden will be passed on to the present tax and rate payers.
If costs $50,000 per every new pupil to keep building new schools at the present cost, not to mention the annual cost of staffing and consumables.
Let's hope that Chapel Hill got some of the sold out seats for the Growth Symposium taking place in Raleigh this week.