Demolition of the three houses at 4011-21 Washington Boulevard owned by Saaman Development is well underway. See my April 9 post for details and, better yet, see the destruction in person. Then try to tell me that our city's preservation review ordinance is functional.
On April 11 Paul Hohmann posted photographs of the demolition and insightful commentary to Vanishing STL: Demolition of 4011-21 Washington Proceeds
Wednesday, April 18, 2007
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Here's the ordinance:
http://www.slpl.lib.mo.us/cco/ords/data/ord4832.htm
PE
Those mother fuckers!
From the pictures, it looks like those buildings should have been demolished for safety reasons. Paul (Vanishing St. Louis) makes a few good points about the tax credits giving the developer the option to increase the construction budget along with the type of products used in the construction, but what developer in their right mind will use their profit as equity to secure an 85% LTV construction loan? I mean come on, what are the comps per sq. ft in the area? $90? Do the math, that wouldn't get the first floor of those buildings completed. In the slow real estate market we are in, the condition of the homes, the lack of interested owner-occupied rehabbers in the area, those buildings would have stayed in their decayed state for year.
I understand the concern to save buildings like this, but when city officials, the economy, and time are against you, sometimes it is better to find another battle to wage and move passed the ones you can't win.
I contacted Vandeventer "Neighborhood Association" as well as other community groups. No one responded to my inquiries. One individual who did had no idea it was occurring, or at least that's what he said. I really wonder why Kennedy is even on the preservation board. He claims his district is not in one because of the requirements, yet you pointed out that the variances may be granted. Whatever the reasoning, I do not understand how a rational individual would demolish homes for condos when vacant non revenue generating LRA lots are plentiful. Pointless!
Doug, those LRA lots aren't so plentiful in the CWE.
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