In response to the anonymous post I received the other day claiming there was a memo circulating detailing an effort to sell River Park to developers to build a parking garage for the new baseball stadium, sources within River Park said that suggestion is erroneous and that there is “no plan or proposal to sell of demolish River Park.” They said the memo, which was “not in any way circulated, endorsed, or drafted by the Board or Management of River Park,” was distributed by one resident who proposed “nothing more than to look into whether River Park should explore development of its ‘excess land’ (referring primarily to our giant parking lot that abuts Delaware Avenue), not whether River Park should sell itself to developers. The member's idea was to ask whether there was a way to capitalize on this parking lot.”
Wednesday, January 23, 2008
Subscribe to:
Post Comments (Atom)
7 comments:
Thank you for the update. The news is a relief.
The "sources within River Park" are being completely dishonest with you. The memo, which was written by a former Board director, stated: "sinking $9 to $12 million into River Park for capital projects ... seems to me to be throwing good money after bad. The difference between $137 million as built and $400 million if it were vacant seems like we should sell the whole coop and just divide up the $263 million difference ($500,000 per share over current as built value.) and take our money and run."
There is a very active group of residents on the Board and committees at River Park who have no interest in Charles Goodman, modernism, or historic preservation, and would prefer to sell instead of saving the structures from further disintegration. To many of them, including the memo writer, River Park is worth more if it is vacated. Again, please consider nominating River Park for inclusion in DCPL’s 2008 Most Endangered Places.
Thank you for the update on River Park. We live in the neighborhood so this is very good news.
How is it "good news" that owners want to sell off a significant portion of the land now serving as the parking lot along Delaware?
Sooooooo ... is the sale of the coop a legitimate possibility or not?
Not a legitimate possibility. The member who originally brought this up (it was a single member, and nothing official) tried to raise it at River Park's annual meeting of shareholders. The flow of members leaving the room to deny her a quorum led to a motion to adjourn the meeting, which passed. The member's "initiative" thereby died without action.
What is this about $9 to $11 million for capital improvements? Are fees likely to go up?
Post a Comment