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Post by B-J Forum Admin on Dec 31, 2003 12:04:04 GMT -5
Local investors are planning on converting the old Jennison warehouse on Water Street in condos. The building was built back in the 1920s for storage. In recent times it has been used as a boathouse. Their plan calls for the upper levels of the building hold 28 condos and the ground level will be used for parking. The condos are expected to range in price from $300 to $600 thousand. What are your comments about this subject?  |
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Post by B-J Forum Admin on Jan 15, 2004 22:28:13 GMT -5
Some hurdles need to be cleared for the project to proceed. The developers are talking to the owner of Jennison Boathouse to get an extention on their January 15th deadline for buying the property.
The developers say they won't buy the property until the city has passed a tax abatement requested on improvements to the property for up to 7 years.
The city is waiting on action from the Downtown Development Authority (DDA) before they'll pass tax relief requested by the developers. The DDA has stated it will removed the property from the special tax district that presently collects tax improvements for use within the the designated area. However, the district is presently holding a debit, and state regulations may preclude them from removing the property.
In the meantime, everyone wants the project to go -- but its timing may not allow it to happen.
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Post by Condos a go on Feb 7, 2004 16:15:33 GMT -5
The hurdles have been cleared and the condo project will move forward. This is great news for the parties involved and for the citizens of Bay City who stand to benefit from this major investment along the river front.
As these condos clear the planning stage, the condos at the Shearer building over at Center and Adams continues to progress with its reconstruction of this heritage building which is over 100 years old, but structurally as sound as the day it went up. While the Shearer condos will not offer river frontage, they'll have a distinct style that'll more than compensate. The building has a beautiful mezzanine that runs from the ground floor to the roof that is sure to be the pride of the those living there. Its location is also ideal, which is centrally positioned to the amenities downtown, the river and Wenonah Park is only three blocks away, as is Delta Planetarium and several restaurants. And, kitty-corner to them, the new Central Library is being constructed.
Plans are also in the works to convert the old Knepps building on the east side of Washington avenue, around the corner from the Shearer building, into another residential community.
These residential communities would not be economically practical if it were not for the success of the Downtown Development Authority, city government and private investors who have never waivered in their faith in the vitality of the downtown area, which is unique among the vast majority of cities today.
One can easily see new merchants setting up shop nearby to take advantage of what will be a significant number of new customers. Stores like a meat shop, grocery store, dry cleaners and other small businesses.
Now, who'll loan me a couple of million dollars so I can build a roof top restaurant that's a sure bet to be a winner?
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