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Sugar House crater must be filled
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Now, when times are really tough, and there is this big downturn in our economy is no time to turn the heat up on a developer who has Sugar House's long term interests at hand. Cool your heels downtown, give Sugar House the breathing room it needs. Just because there seems to be unlimited money in downtown coffers is no reason to once again, beat down the efforts of the Sugar House people to make a major, needed improvement that is caught in this financial downturn. Be patient with your little brothers, the smaller but still important suburban business centers around the city. Those that have survived the moves to the county should be nurtured and helped, not threatened in this time of crisis.
I fault the developer, he was too quick to start running with the project, before he had the money. Now the core center of Sugarhouse is an empty lot/hole. No desire to come to downtown Sugarhouse anymore! That hurts all the stores and shops in that area.
I fault the City for letting the developer carry out his plan knowing the financial backing was not present.
As for safety, Yes fill in the hole, or should we wait until the developer files for bankruptcy and then we are stuck with a gaping eye sore on our hands?
And I don't for a minute believe the Developer's story that the $80,000 cost to landscape the site will make or break the development.
For this type of project the return on investment will likely be in the millions and $80,000 is insignificant compared to what he will make if all of the condo units sell and the office space fills up. And $80,000 is also insignificant to the amount of financing needed for construction; what's $80,000 when it will cost $40-60 Million to build the project.
I bet the real story is that he is getting cold feet about the project because the housing and office markets are not looking good and don't show any signs of turning around in the next 3 years. He doesn't want to build a building that will sit empty. He probably plans to leave the site vacant for 5 years or so until the market recovers.
That will be nice for those of us who drive or walk by that corner every day.
To Maynard Sorensen: What? Didn't you notice how Sugar House developed into a vitality not seen elsewhere, WITHOUT much help from the city? It was only when the planning commission interceded on the behalf of a get-rich-quick developer, that the Sugar House business area turned ugly.
Maynard, I think you were being ironic. Right?
"Forward" doesn't mean giant buildings that sit empty and are outdated in five years, like just up the block.
PS. Listen to Mr. Sorensen. If he is the same Maynard Sorensen I know, his family owned Southeast Furniture in Sugarhouse for decades.
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It's the Developers poor judgment and timing that's at fault. Besides, who needs another empty building, let along a fig freaking hole?