According to the Sunday Post-Crescent, Appleton's $21 million downtown Richmond Terrace condo development is at 44 percent occupancy. The city's economic development director is quoted as saying that "the absorption rate has been dramatically slower than what they anticipated."
Oshkosh officials are notorious for ignoring or downplaying activities going on in other communities when those activities challenge the Oshkosh way of doing things, but common sense should tell them that if a $21 million condo development in a city (Appleton) with a fairly thriving downtown is having troubles, things probably won't be much better for the $60 million Joan Rivers Resort.
Meanwhile our faithful servant Silence Dogwood has something to say about vacant buildings and high grocery prices in Neenah, and is right on when it comes to those annoying "key cards."
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6 comments:
A little tidbit of information about Richmond Terrace. The people involved in the project are known as Professional Realty and Development Corp. in Middleton, Wisc. They are also, oddly enough, partners with Ben Ganther in the 100 block project on North Main Street in Oshkosh. More elaborate properties and pie-in-the-sky projections that fall short. There was TIF money involved in Appleton too I believe. Not entirely sure on that but the partnership between Ganther and PRDC is a fact.
Silence Dogwood does not have comments turned on (unless I'm hallucinating again). This forces me to be Silent also - not my natural state. So I have to use you to tell her Good Job and Welcome to Blogging Hell, oops I mean,the party.
And Tony! Jeez! You gotta watch yer darn terminology! You can't say stuff like "my faithful servant" when talking about a woman. This gives rise to Unseemly Harem Imagery in the lurid minds of your readers. Or possibly visions of female bloggers running around in French Maid outfits. Holy Moly, your reputation is swirlin' around the bowl as it is!
Jody, Silence Dogwood referred to herself (if it is indeed a she?) as a faithful servant. Please stop thinking that everything is an attack on Women. Also, please don't think that this is an attack. I am being sincere and polite. Too many things are taken out of context if you don't have time to refer to the other post. I took the time but most won't and you sortof made Tony look like a sexist just now. Please don't get defensive as this is not meant to attack you, just a suggestion
Jody,
Just so you know, the anonymous response to your comment is not from me. I did not perceive you as implying that I meant any sexism in my post--I thought you were adding some levity to the discussion which is something that you do much better than most bloggers.
Why Mist'ah Rhett! You DO cay-uh!
..and you know, anything I can do to help you gather material for your absurdist novel. Gosh darn, this place is a veritable petri dish.
Tony-
I don't believe Richmond Terrace is an equal comparison to the proposed Five Rivers project. Five Rivers will be a condo/hotel project, functioning mostly as a hotel. Richmond Terrace is a mixed use residential and commercial businesses building. I suspect the majority of people who purchase a "condo" at Five Rivers will do so as an investment, not permanent residence. The underlying issue of the current market is important to note and something developers and city staff should utilize when planning future residential developments.
-Bryan
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