U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > North Carolina > Raleigh, Durham, Chapel Hill, Cary
 [Register]
Raleigh, Durham, Chapel Hill, Cary The Triangle Area
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 12-19-2008, 09:26 PM
 
1 posts, read 4,178 times
Reputation: 11

Advertisements

Wake Forest Wake Union Shopping Center Denied by town board members. Sounds like we need come new town board members come election time!
Rate this post positively Reply With Quote Quick reply to this message

 
Old 12-19-2008, 09:34 PM
 
1,954 posts, read 4,940,995 times
Reputation: 1121
Quote:
Originally Posted by Star Stream View Post
Wake Forest Wake Union Shopping Center Denied by town board members. Sounds like we need come new town board members come election time!
The last thing this economy needs is more retail space devoted to selling imported goods from China, which, at this point in time, can only be financed by further accumulation of debt.

Far better than a shopping center would be a Ford plant to produce the high fuel-efficiency diesel cars that they're selling in Europe, a biodiesel plant, an oil refinery, or a host of other productive enterprises that North Carolina, like the U.S. at large, is seriously lacking.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-19-2008, 09:52 PM
 
Location: Wake Forest
2,835 posts, read 6,810,598 times
Reputation: 2050
Great decision! Thank-You board! Enough is enough empty retail space. Now the court battles will begin to twist the arms of the board to say YES to growth and YES to their NO vote!

I like growth like the next Developer but Wake Forest has got to much commercial Development going on right now. Let the economy catch up to the commercial space either already built or under construction. I'd rather see a field of trees and grass than a bare almost cleared site like the former Parker-Hanifin site.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-19-2008, 09:56 PM
 
Location: Wake Forest, NC
1,032 posts, read 3,204,351 times
Reputation: 226
Quote:
Originally Posted by dansdrive View Post
Great decision! Thank-You board! Enough is enough empty retail space. Now the court battles will begin to twist the arms of the board to say YES to growth and YES to their NO vote!

I like growth like the next Developer but Wake Forest has got to much commercial Development going on right now. Let the economy catch up to the commercial space either already built or under construction. I'd rather see a field of trees and grass than a bare almost cleared site like the former Parker-Hanifin site.

Has anybody heard anything about the site being contaminated??? Notice how one small building is still standing.. it looks weird ... I heard there is some kind of problem with asbestos.. but that doesn't really make sense..
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-19-2008, 10:36 PM
 
Location: Wake Forest
2,835 posts, read 6,810,598 times
Reputation: 2050
Quote:
Originally Posted by weluvwakeforest View Post
Has anybody heard anything about the site being contaminated??? Notice how one small building is still standing.. it looks weird ... I heard there is some kind of problem with asbestos.. but that doesn't really make sense..

The soil is contaminated with a solvent and it is in the courts. The Parker-Hanifin had money set aside for clean up but apparently it is not nearly enough based on todays clean up costs. So the courts will decide who pays the difference. It something like you cannot get a new car from the junk yard. So it maybe in the courts for some time.

The people from St. Ives should be happy with this decision as they had real concerns about one of the access roads going into their area when they built the empty retail space.

A perfect example is the Caveness Farms Shoppes or lack there of. It is now a big empty field with no building in site except the out parcels.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-19-2008, 10:42 PM
 
9,679 posts, read 28,076,458 times
Reputation: 10054
Quote:
Originally Posted by Star Stream View Post
Wake Forest Wake Union Shopping Center Denied by town board members. Sounds like we need come new town board members come election time!
I don't have an opinion on this particular project, but I'm curious why you think you need new town board members becasue they denied this project. Do you want town board members who approve every thing that comes in front of them, or do you support this project for a particular reason and feel it was unjustly denied?
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-20-2008, 07:10 AM
 
9,680 posts, read 25,173,373 times
Reputation: 4150
We don't need this retail when lots of existing retail space is vacant.

More vacancies will soon occur as overexpanded retailers fail.

Why are lenders still financing this stupidity?
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-20-2008, 08:07 AM
 
Location: Southeast US
1,400 posts, read 4,773,065 times
Reputation: 875
Quote:
Originally Posted by saturnfan View Post
We don't need this retail when lots of existing retail space is vacant.

More vacancies will soon occur as overexpanded retailers fail.

Why are lenders still financing this stupidity?
Mostly financing is coming from prior commitments, which are legally binding. It takes sometime for the financing to cease if the company is still in compliance with covenants and other preset hurdles. I seriously doubt there is a lot of new money originations occuring.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-20-2008, 01:24 PM
 
9,680 posts, read 25,173,373 times
Reputation: 4150
Quote:
Originally Posted by JJingle View Post
Mostly financing is coming from prior commitments, which are legally binding. It takes sometime for the financing to cease if the company is still in compliance with covenants and other preset hurdles. I seriously doubt there is a lot of new money originations occuring.
A good explanation. Thanks.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-20-2008, 02:09 PM
 
316 posts, read 934,391 times
Reputation: 221
Quote:
Originally Posted by Star Stream View Post
Wake Forest Wake Union Shopping Center Denied by town board members. Sounds like we need come new town board members come election time!
No, it sounds like our current ones are doing their job. I had mixed feelings about the whole project, there are some good things going for it, but in the end there really are too many unknowns and negatives.

It's not like development has stopped in the entire area.
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:



Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > North Carolina > Raleigh, Durham, Chapel Hill, Cary
Similar Threads

All times are GMT -6.

© 2005-2021, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top