Less than a month ago, Mayor Henry was reported by the Journal Gazette to expect groundbreaking for The Harrison condominium project to take place in September.
Today, Indiana's NewsCenter's Jeff Neumeyer reports that the developers are making changes in the condo's marketing team again. Mr. Neumeyer also reports the City's Redevelopment Director Greg Leatherman saying any idea of completion by Opening Day is not realistic.
City Redevelopment Director Greg Leatherman tells Indiana's
NewsCenter, he believes it is probably no longer realistic to think the
condos will be finished by the contractual deadline of June 1st, 2009.
But
Leatherman says if substantial progress toward completion is evident
next June, and city attorneys advise that it's okay to amend the
contract agreement, an extension on the completion date may be worked
out.
Mr. Leatherman had aleady said, in early August - just a few days after the Mayor's comments - that it would not be completed on the date in the contract.
Scott Spaulding at the weblog "What's Going Down(town)" reports that The Harrison condo sales website now sports the name of a new real estate broker:
[ ... ] Martin Goldstine Knapke [has been] the company responsible for selling
the luxury condos that are to be part of the Harrison Square project. However,
the website now bears the logo of Coldwell Banker.
[ ... ]
This is not simply a new marketing push. From what we have heard, only 12
units were sold under Martin and supposedly 25 sales are needed to advance the
project.
[ ... ] [T]he
fact remains that The Harrison is behind schedule and will likely not meet its
contractual deadline for completion of June 1, 2009.
The first season of baseball at Harrison Square may not see any condo
dwellers peeking out from their balconies onto the field of play, since the
Single A baseball season is over in August.
The key thing is, that in order for the stadium financing to flow as agreed, The Harrison condos and mixed-use development has to absolutely be done by March, 2010. Taxes that are to flow from The Harrison are to be used to make payments on the public borrowing made for the stadium.
Of course, even if completed in time for the March, 2010 assessment date, the amount of taxes won't be as great as estimated because the Harrison condos were granted a tax abatement by the City Council on a vote of 8 for and 1 against.
My vote was the one against the granting of the abatement.
It is becoming clear that it may be time for Barry Real Estate representatives to make a return appearance before the City Council.
Comments
In order to leave a comment, you must also leave your full name and a working email address in the event Fort Wayne Observed contacts you for confirmation. You may request that your email address not be published when your comment is posted.
Anonymous comments or those that include coarse language or personal attacks will not be tolerated.