can someone explain the wisdom of the RCSC buying a run down restaurant on Grand Ave for $750,000? * * assume $500,000 for the building , that means the RCSC paid $83,333 an acre for a three acre parking lot.... read further they want to form a committee to figure out what to do with it.....?????
I guess you never bought commercial property. There is so much demand for space I think the committee will be to see what the best use would be. That one location will not solve our lack of space problem. It is not like they bought a building and have nothing to put in it.
wasn't aware there was a facilities shortage, I will take your word for it.... what I see is a 10,000 sq ft building on 3 acres .* that translates to 120,680 sq ft of parking for a 10,000 sq ft building.... what I don't see is how that addresses a facility shortage..... my background isn't important to this discussion, suffice it to say that I would not buy a commercial property without a purpose....
Seriously. There is a lot that goes on in the shadows and anything I would say is purely a guess. *Some day (when I'm old enough) I'll need to run for the board so I can get a look behind the curtain.
Forget the building, the land is an exceptional purchase that will do nothing but increase in value. Our biggest challenge in the coming years will be space where to put people and clubs. It's good they are taking the discussions to the "community" (via the long range planning committee). There's lots of options for use, and it deserves a solid airing before the board makes any decisions on use.
I don't see it, but respect your opinion and vision. Always thought the vacant parcel on 103rd, between Grand and Thunderbird was a good location for non residential development.*
What about the funds for this purchase coming out of Operating Expenses instead of the PIF funds? An excess of operating expense money could have been used towards offsetting the last larger than normal increase. The purchase is a good idea but the way it is being funded and establishing a "Long Range Planning Committee" for short term brainstorming sessions is very questionable.
Fixj, * Nope, don't miss the rain, the traffic, or the occasional downtown power outage. The earliest I can run for the board will be 2019. *I turn 55 mid term 2018. *Odd I can run for POTUS, but not RCSC Board of Directors....it's a rigged system. *(If you haven't been following this year's Presidential nominating rhetoric, ignore that last part.)
Way curious on this one aggie; buying it out of general ledger is interesting. If it is bought by using the funds from PIF, it has to remain in RCSC hands for 15 years. I see no value in selling it off down the road, unless of course they could make a boatload of cash.
Forgive me if I get the name of the "loop" wrong, but isn't the "303" going to increase the traffic in that area? If I were a betting person, I'd say this is a short term investment. *Once the traffic increases, the $$of the property increases and the RCSC can cash in. Now, this isn't something I would like to see, but nobody has asked me.
No habla espanol? I think what J/V is saying is by using general ledger money, there's no obligation to hold onto the property for 15 years should the value of that land increase wildly. Comprende?
Traffic on Grand has been increasing steadily for many years. I don't see the property values tied to the traffic.*
I'm sure I'm wrong. * Typically, the more people who pass by an establishment means more opportunity to bring people into an establishment. *But, I'm new here so I'm just learning the local definition of typical.
The cycle for commercial property is Boom, Slump, Recovery. When someone builds something significant *on Grand that could start the recovery phase.* Grand between 99th and 107th looks like it did when I first came here to visit relatives in the late 70s, only real change is traffic.*
Wouldn't argue with your assessment Fix, my guess is the plan is to develop the land. Let's face it, empty restaurants look like hell and any upgrades only enhance the look of the community. Just look at the La Rhonde Center and the one on Thunderbird and 99th. The old gas station on the corner of Grand Ave and Del Webb BLVD is in the process of becoming a Starbucks and will only add to the value of how that corner looks. Point being is we (Sun City) are evolving. Land is at a premium and grabbing it when the cost is right just makes sense. Long term, who knows, but all of these decisions belong in front of the community, not behind closed doors.
