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Thread: What do we do with a grand ol' lady?

  1. #1
         
    Registered
    Feb 2005
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    Casper, WY
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    What do we do with a grand ol' lady?

    Looking for ppl. who have dealt with alternative financing and innovative parking ideas. We have a gem of a building (historically speaking) smack dab in our downtown. The general concensus is to convert it into residential (which it is already zoned for) with commercial on the bottom floor. It would be safe to say that mixed income and mixed-use development is unfamiliar and uncomfortable territory for our community... however, it would be well-suited to our particular downtown configuration (which is has NO residential at all). If done right, this could be a catalyst for creating a balanced downtown environment. I've included some pics for you curious folks out there!

    The first pic is of the the building marked for rehab. The second pic is of the downtown.
    Attached Thumbnails Attached Thumbnails untitled2.JPG   untitled4.JPG  


  2. #2

    Registered
    Oct 2001
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    Solano County, California
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    6,468
    Quote Originally posted by delajuarez75
    Looking for ppl. who have dealt with alternative financing and innovative parking ideas. We have a gem of a building (historically speaking) smack dab in our downtown. The general concensus is to convert it into residential (which it is already zoned for) with commercial on the bottom floor. It would be safe to say that mixed income and mixed-use development is unfamiliar and uncomfortable territory for our community... however, it would be well-suited to our particular downtown configuration (which is has NO residential at all). If done right, this could be a catalyst for creating a balanced downtown environment. I've included some pics for you curious folks out there!

    The first pic is of the the building marked for rehab. The second pic is of the downtown.

    Martinez, CA converted a similar (but much smaller) building into senior housing. That might be one idea.

  3. #3
    Cyburbian michiganplanner's avatar
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    Mar 2005
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    the verge of Stan-dom
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    Here in Michigan a developer's eyes would light up as he saw dollar signs. To developers here that has first floor commercial (very posh sort of stuff, hair salons, boutiques) and luxury condos up top written all over it.
    Since part of my job includes to be involved with housing I see a great opportunity for senior housing and good opportunity for low - mod housing. Both of those would take a lot of work to keep money grubbers away and need a ton of consensus building. There are non-profit developers out there that atleast paint the picture of having certain public policy goals and initiatives.

  4. #4
    Cyburbian Cardinal's avatar
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    Aug 2001
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    The Cheese State
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    Senior housing is often a pioneering way to introduce housing to downtowns. Especially in a building like this, Section 42 housing tax credits and historic preservation tax credits can be combined (perhaps with other local assistance) to make it a very attractive investment.
    Anyone want to adopt a dog?

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