What the schneikies is going on here?
"Something's going on because there isn't any practical way to rationalize why people paid what they did for those properties," Mr. Sullivan said. "I don't think anyone is suggesting that they paid market value." (P-G, Mark Belko)
Go!
I guess it's possible the URA or a 3rd party is preparing to build cut-rate parking garages. In which case, I hope somebody tips me off so I can obliterate this post and we can all say, "We were never here".
ReplyDeleteObviously, it is a drill pad site.
ReplyDeleteBernardo Katz?
ReplyDeleteI'm going with Millcraft, the people behind Piatt Place, Market Square Place, the State Office Building, and the planned Market Square Gardens. They have said in the past they are interested in doing a project on that stretch of Wood, and even tried to acquire some properties directly, but apparently ran into trouble negotiating with some owners.
ReplyDeleteI'd take the claims about overpaying with a grain of salt (you never know what interest someone might have in driving down perceptions of property values), but certainly Millcraft could potentially see the benefit to its many other projects in the area by redoing this block. In other words, it is in a good position to recapture some of what would otherwise be externalities in this deal.
The "Kinross" name should certainly ring bells for everyone active in Democratic politics. Kevin Kinross has been a point man for Ed Rendell and Dan Onorato for years. His father has been a Commissioner in Ross for years before that . . . I don't know for sure . . . but I'd follow the $$$. Especially if it's the same players who were involved in selling the State Office Building, a la Piatt Place.
ReplyDeleteI agree with Brian TH. That block is very very tired and would enhance the value if Piatt Place considerably. When I walk by there I often wonder how that block impacts the sales pitch for the high end condos at Piatt Place.
ReplyDeleteAnon 11:23 - I thought the same thing but, according to the PG, the buyers name is Kimross Real Estate LLC (with an "m").
ReplyDeleteAnon 12:15: Democrats are known for typos.
ReplyDeleteAnonymous 11:23 said...
ReplyDeleteI agree with Brian TH. That block is very very tired and would enhance the value if Piatt Place considerably. When I walk by there I often wonder how that block impacts the sales pitch for the high end condos at Piatt Place.
This is starting to sound like what's happening ... but step two, why the secrecy?
why the secrecy?
ReplyDeleteOur chief weapon is surprise...surprise and fear.
Off topic:
ReplyDeleteYou can try to save the city's financial position by selling assets if you want, but today's news shows that it won't work. A few people with poor luggage-minding skills will just drive us into bankruptcy again.
Our chief weapon is surprise...surprise and fear
ReplyDeleteSurprise!
If you don't read the side bar stories, you miss stuff like that.
ReplyDeleteMarcellus People?
ReplyDeleteHow cool would that be?
Gas exploration money, local...
Me thinks, condom outlet...State approved...
monk
Lets do some math!
ReplyDeleteOna-RAT-O trails Corbett by 10% in two polls.P-G
Ridge is point man for Marcellus...Corbett buddy.
Ona-Rat-O is point man for Drink Tax, North Shore Connector and Port Authority, reduction in service and higher fares.
For GOP to take Pa, ousting Obama, is merely happenstance...facts will weigh heavily. Mosque and Ground Zero, respect given where none is deserved. Religion lacks compassion...
'paradoxial undessing'
monk
It may be true that is the popular perception of Onorato, but it is ironic given that the NSC was the baby of a bunch of Republican politicians (Dunn and Cranmer, plus a federal congressional delegation that was almost all Republicans at the time, plus a Republican federal administration). Onorato's role was basically to accept a check that had already been signed and delivered.
ReplyDelete