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Old 09-23-2014, 02:50 PM
CFP CFP started this thread
 
475 posts, read 624,349 times
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Quote:
Originally Posted by I_Like_Spam View Post
It isn't really Walnut Capital's fault that buildings with preserved facades don't earn enough extra to justify the expenditure
walnut capital has their agenda - make more capital
preservationists have their agenda - make sure greedy developers don't tear down great historic structures

just put a walmart there and be done with it
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Old 09-23-2014, 03:17 PM
 
Location: North Oakland
9,150 posts, read 10,887,444 times
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Quote:
Originally Posted by CFP View Post
just put a walmart there and be done with it
It's comments like this, CFP, that make it hard to tell whether you're being serious.
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Old 09-23-2014, 03:21 PM
CFP CFP started this thread
 
475 posts, read 624,349 times
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Quote:
Originally Posted by jay5835 View Post
It's comments like this, CFP, that make it hard to tell whether you're being serious.
that is what's referred to as sarcasm

Sarcasm - Definition and More from the Free Merriam-Webster Dictionary
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Old 09-23-2014, 04:06 PM
 
281 posts, read 340,507 times
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Walnut Capital doesn't own the buildings; the neighborhood non-profit, East Liberty Development Inc., owns them. The reason that non-profit development groups like ELDI exist is to make things happen that wouldn't happen otherwise. They need to try harder to find a development solution that re-uses the existing historic buildings.
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Old 09-23-2014, 04:32 PM
 
Location: 15206
1,860 posts, read 2,578,094 times
Reputation: 1301
ELDI is selling them to a developer. Rumors are that it is Walnut Capital.

The thing is, if Walnut made a bunch of money on another project, they are probably not willing to break even on their next one for the sake of preservation.

They did a great job in preserving the Highland and Wallace buildings. The original bakery building was preserved at bakery square. Reizenstein wasn't worth preserving. I'm sure they'll spend thousands of dollars paying architects to run the numbers in trying to save these facades, but if it is going to stop the project, they likely won't give up on the project because of that.
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Old 09-23-2014, 04:38 PM
 
281 posts, read 340,507 times
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Walnut Capital told the Young Preservationists Association that they plan to buy the buildings from ELDI, and have zero interest in preserving the buildings or the facades.
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Old 09-23-2014, 05:00 PM
CFP CFP started this thread
 
475 posts, read 624,349 times
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Quote:
Originally Posted by selltheburgh View Post
ELDI is selling them to a developer. Rumors are that it is Walnut Capital.
what rumors?

"East Liberty Development Inc. has three such properties in the 6000 block of Penn Avenue in East Liberty, under agreement to sell them to local developer Walnut Capital."

Diana Nelson Jones' Walkabout: Historic buildings in East Liberty pose a challenge - Pittsburgh Post-Gazette
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Old 09-23-2014, 06:08 PM
 
Location: 15206
1,860 posts, read 2,578,094 times
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Ok, then the rumor is now a fact. I heard that they were buying it close to a year ago. Didn't know it was public knowledge.
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Old 09-23-2014, 06:41 PM
CFP CFP started this thread
 
475 posts, read 624,349 times
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Quote:
Originally Posted by selltheburgh View Post
They did a great job in preserving the Highland and Wallace buildings.
absolutely - the contractor should receive an award for their work on the restoring the highland building
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Old 09-23-2014, 07:00 PM
 
1,051 posts, read 2,611,087 times
Reputation: 638
I don't understand the issue... seriously? I'm not being sarcastic.

Why do i care if they raze some old buildings? This doesn't make any sense to me.
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