Comment 29200

By Concern (anonymous) | Posted February 28, 2009 at 14:18:11

Sounds good, my thing is that I read this same report every year and new projects are announced but never seem to happen. Last year the report said building permits for over 200 dwelling units would be issued in 2008........didn't happen but there is no mention of this. The loan program, talks about how great it is that loans are being paid back, most of these are for condo's which as per the program are supposed to pay back as soon as the unit sells. It is obvious condo's are not selling (Caroline and Napier). Trinity landing was spun as such a great thing in previous reports now it is in receivership........wonder how much the city will lose on that one as it is a risky 2nd mortgage holder. 2003 ground floor vacancies were 9% now they are 10.1%

I think it is great that things are happening but it sickens me to read this report every year that is produced by the City. It is complete spin (except for the receivership issue). They never really acknowledge that some projects that they bosted about in previous years never happened. ie. Federal Building condos, the new hotel by City Hall which is presently used as an illegal surface parking lot. I've heard that the leader of the Downtown Renewal department is arrogant and self promoting. Hence the rosey self promoting report every year with very little acknowledgement of the real issues.

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