The housing was condensed... multiple units per acre for the apartments.
Sort of like how they will attempt to build at the Weirs traffic circle.
No one wonders why less than 30,000 OHRV adding $2 per registration to a land purchase fund could afford to buy a $2 million dollar property in less than 5 years? You don't think the State knew how I did it?
And there is land going for over $100,000 an acre here in Belmont; but you can only build one unit per acre on that... no apartments.
From Dolan's perspective, paying $21 million for the land, and having to fork out another $21 million to meet the OZ requirements... regardless of how great a hotel/resort could be built... isn't really worth the effort. Especially since that group doesn't care about any residential housing. So they aren't going to back her play to close by the 22nd would be my guess.
Now, if they could acquire the property for half... and only be into the hotel/resort for $21... that may interest them. The OZ tax credits would just be icing on the cake.
The State will do what it must... the homeless are going to shift... and leaving that property open makes the risk greater that they will shift in that direction.
|