jdbaker Posted January 30, 2011 Share Posted January 30, 2011 From the Chronicle's Prime Property Blog: Brookfield is working with the city on getting incentives to tear down and redevelop other abandoned eyesores downtown. He was light on specifics, but in a follow up interview he said that financial assistance from the city would be welcome. "We're hoping this will part of the first of a number of opportunities that the city would have to rid itself of derelict properties," he said. While the city hasn't made any commitments yet, the discussions are ongoing, said Andy Icken, the city's chief development officer. "We're exploring ideas of what's been done in other cities, but we don't have a plan yet," Icken said. Does anyone have any inside info? It seems like there only a few possible candidates. Days Inn? The Savoy? Central Square? Link to comment Share on other sites More sharing options...
Subdude Posted January 30, 2011 Share Posted January 30, 2011 The old Holiday / Heaven on Earth Inn would have to be the prime candidate, although it would cost a bundle to demolish. If the sites were just going to be turned into surface parking then I'm not sure it would be worth the effort. Link to comment Share on other sites More sharing options...
ToryGattis Posted January 30, 2011 Share Posted January 30, 2011 The old Holiday / Heaven on Earth Inn would have to be the prime candidate, although it would cost a bundle to demolish. If the sites were just going to be turned into surface parking then I'm not sure it would be worth the effort.Agreed, but it would good to do *something* nice with them if they can't be redeveloped. I wonder if they could bring in one of those crazy, big-scale artists to do a project on one of them? Maybe cover them with some cool banners? Turn an eyesore into an attraction... Link to comment Share on other sites More sharing options...
lockmat Posted January 30, 2011 Share Posted January 30, 2011 The old Holiday / Heaven on Earth Inn would have to be the prime candidate, although it would cost a bundle to demolish. If the sites were just going to be turned into surface parking then I'm not sure it would be worth the effort.Would it cost any more than it is for Brookfield to bring down the Sheraton?I guess the Sheraton has more value since it has an underground parking garage and it increased the rents (per that same chron blog) of one of their own buildings. If neither of those factors is in place, I guess "the bundle" it would cost wouldn't be worth it. Link to comment Share on other sites More sharing options...
Highway6 Posted January 30, 2011 Share Posted January 30, 2011 Brookfield is working with the city on getting incentives to tear down and redevelop other abandoned eyesores downtown. He was light on specifics, but in a follow up interview he said that financial assistance from the city would be welcome. Rewarding for demolishing - Financial assistance would be nice, but what about the flip side - punishment for not doing so.Ethics aside, what's to stop the city and HCAD from artificially uber-inflating the value of, say the Holliday Inn site, as one way to persuade a landowner to demolish... or be forced to pay taxes out the wazoo until they do? Link to comment Share on other sites More sharing options...
jdbaker Posted January 30, 2011 Author Share Posted January 30, 2011 Ethics aside, what's to stop the city and HCAD from artificially uber-inflating the value of, say the Holliday Inn site, as one way to persuade a landowner to demolish... or be forced to pay taxes out the wazoo until they do?The landowner has the right to protest the taxes, and sue to reduce the valuation, which I'm sure they would do. Link to comment Share on other sites More sharing options...
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