shawnw
09-25-2019, 07:52 AM
There's already an indoor pool and hot tub in the basement of the tower for the residents.
View Full Version : Gold Dome shawnw 09-25-2019, 07:52 AM There's already an indoor pool and hot tub in the basement of the tower for the residents. Martin 09-25-2019, 07:59 AM The building that houses the buffet, underneath all that crud, is actually an old theater (from the same era as Tower). Would rather see it restored vs torn down. never realized that... but it makes so much sense given the layout of the interior. compared to the 1969 aerials, looks like the whole eastern third of the build is a later addition. jompster 09-25-2019, 01:41 PM I also love the Asian mall idea. They have a pretty cool one in Calgary, AB, as well. That would be an awesome fit right there. Jersey Boss 09-25-2019, 04:20 PM Calgary and especially Vancouver have a significantly greater percentage of Asians than OKC. Viability would be an issue. SagerMichael 09-25-2019, 04:54 PM Calgary and especially Vancouver have a significantly greater percentage of Asians than OKC. Viability would be an issue. I doubt viability would be an issue in the Asian district. Super Cao Nguyen is routinely packed and I feel like an Asian mall in the Gold Dome would complement that. While Calgary and Vancouver might have a greater percentage, Oklahoma City has a great Asian presence that adds so much to this city and the community. I honestly feel the exact opposite. I think an Asian mall would kill it here and be extremely successful. bombermwc 09-26-2019, 10:00 AM And go "market" style rather than grocery store style like Cao Nguyen. As big as that place is, it always feels cramped to me with the way it's all piled up in every square inch. Shops/Food/etc would be nice here. Teo9969 09-26-2019, 11:31 AM I doubt viability would be an issue in the Asian district. Super Cao Nguyen is routinely packed and I feel like an Asian mall in the Gold Dome would complement that. While Calgary and Vancouver might have a greater percentage, Oklahoma City has a great Asian presence that adds so much to this city and the community. I honestly feel the exact opposite. I think an Asian mall would kill it here and be extremely successful. This would most certainly draw in a lot more than just those of Asian heritage, especially among the people living in the urban core. Also, again, the land area and "height restrictions" dictate that this would not be a very big development. by "Height Restrictions" I mean, on the actual lot, you cannot build so high as to block the dome, otherwise it's senseless to keep it standing. So basically, construction on the south part of the lot could be however tall and the east, west, and north would need to be 1 or 2 stories max. HOT ROD 09-30-2019, 01:56 AM I agree that the interior is rather limited at 27K sq ft. But they could build a substructure inside the dome creating more levels for various amenities. Instead of just 27K floorspace under the dome, a second level say 12 feet above the floor could have 18K and a third level above that could have 10K (not sure how high the dome is - but you gdt the idea, if possible a total of nearly 50K square feet makes an asian mall very viable. Add to that my thought of adding to the exterior first level, taking out the existing 'facade' but adding in anchor spaces where the roof is somewhat in the same theme as the dome (or doesn't detract from it) and you have even more "pad" spots for restaurants and perhaps even retail anchors (H-Mart, Daiso, Miniso, Sakura) with the inside being the asian good stores on the first level, food court on the 2nd, and theatre/karaoke/dance club on the third. I think a parking garage could be built along 22nd and Western, behind the dome and even be a substantial size since it's away from the main focus. I do realize that Vancouver has a million asians but OKC is the epicentre of Asian culture in Oklahoma and one of the centers for the region. OKC also is unique in that there is an actual Chinatown/Little Saigon district unlike Dallas or other places in the region with larger populations that are more distributed. Having a district makes OKC a destination (one shop/stop) and having the gold dome asian mall would be that WOW anchor for the Asian district drawing not only the 75,000 or so Asians in OKC but also many in the region not to mention other cultures and TOURISTS already in OKC. There's nothing like this in the region, I don't even think Houston has an asian mall and to be honest does Houston even have an asian district/chinatown? I really hope the developer views OKCTalk! HOT ROD 09-30-2019, 02:00 AM Pete, any way to reach out to the developer/owner of the Gold Dome? I think this idea of an Asian mall could be a huge hit, and if collaborated with the Asian District leaders - should be an instant success since OKC does have large communities of Asians. Uptowner 10-21-2019, 04:36 PM +1000 What about super Cao? Pete 04-03-2020, 03:00 PM Jonathon Russell has listed this property for sale for $3 million. He paid $1.1 million in 2015. Teo9969 04-03-2020, 03:33 PM Jonathon Russell has listed this property for sale for $3 million. He paid $1.1 million in 2015. What a GREAT time to sell!!! shawnw 04-03-2020, 08:58 PM where the drive through was torn down is still dirt, they haven't even filled it in (as of a couple weeks ago anyway) shawnw 03-22-2021, 10:50 AM Pete, you hear anything about this? https://twitter.com/downesphoto/status/1374020328205221894 Hearing rumors that developers want to doze the Gold Dome and put up a goddamn 7-11. Pete 03-22-2021, 10:51 AM ^ That structure cannot be demolished or the outside even touched without design review approval. A previous owner had tried to have it razed and the city pushed back and it never happened. Lots of rumors flying around but nothing has been filed. onthestrip 03-22-2021, 12:37 PM I typically lean in favor of keeping historic and unique structures but gold dome is one that I dont have a problem seeing go. Its an obsolete, not functional building that is sitting there doing nothing. Plus you had the previous user screw up the roof with a bad paint job. There are better and higher uses for that property that dont include the gold dome. How long has it basically sat empty, 15-ish years? Im not counting the brief user of that scandal-plagued oil company, who is the one who screwed up the paint job. I think its time to move on. Plutonic Panda 03-22-2021, 12:54 PM I disagree. Whatever boxy cookie cutter development that is proposed can be built elsewhere. Hell the Walgreens across the street should be torn down and rebuilt to be made more dense and pushed up to the street. There are many potentials with the Gold Dome if someone wants to do it right. It just takes the right person. Sometimes the wait is worth it. Bill Robertson 03-22-2021, 01:15 PM The paint can probably be removed without ruining the aged, weathered patina of the gold anodizing. I'm for dozing some buildings and keeping others on a case by case basis. The dome is a keeper. As Panda said, it just needs the right people with the right vision. dford2 03-22-2021, 01:36 PM Don't want to stir up complaints, but I'd rather see it bulldozed than remain empty for years to come. SagerMichael 03-22-2021, 01:57 PM Don't want to stir up complaints, but I'd rather see it bulldozed than remain empty for years to come. That exact thinking is what lead to downtown being obliterated in the 1960s. The Gold Dome could be special if the right hands get ahold of it. If we want to bulldoze something there is a big empty lot with an unused building sitting at 23rd and Francis not even a quarter mile East that should go well before the gold dome is even thought of being touched. TheTravellers 03-22-2021, 02:26 PM Don't want to stir up complaints, but I'd rather see it bulldozed than remain empty for years to come. Why? What worth is there to an empty lot that could sit there "for years to come" (see Founders Bank)? Is OKC out of land to build on that someone needs that corner that desperately? What rationale is there where an empty lot is better than a historic non-blighted/non-condemned building? Oh, and from what I've heard, the problem with the roof isn't just a bad paint job, it's more complicated than that (I believe it was a leak mitigation solution, but not totally sure) and will cost a lot more to fix than just a repaint would. More details might be on this thread somewhere. 5alive 03-22-2021, 03:11 PM I disagree. Whatever boxy cookie cutter development that is proposed can be built elsewhere. Hell the Walgreens across the street should be torn down and rebuilt to be made more dense and pushed up to the street. There are many potentials with the Gold Dome if someone wants to do it right. It just takes the right person. Sometimes the wait is worth it. Totally agree!!! Pete 03-22-2021, 03:30 PM This building has very strong personal meaning for me. I grew up near NW 63rd and Meridian but my dad banked at Citizen's Bank, which was the original tenant. My love for downtown and urbanism can be directly traced to riding with him to Citizen's on a Saturday and heading "into the city". For those who have never been inside, it's even more amazing than the exterior. Left me with a huge, life-long interest in cities and architecture. I found a high-res oblique image of the Gold Dome from around 1967, when I would have been seven years old and about the time I'd take those trips with my dad. I had it made into a huge canvas which I've had on my wall since I moved back to OKC. It's probably my favorite structure in town, apart from First National (where I interviewed in college before the Penn Square collapse and where I chose to bank when I worked downtown in the '80s). Bill Robertson 03-22-2021, 03:50 PM This building has very strong personal meaning for me. I grew up near NW 63rd and Meridian but my dad banked at Citizen's Bank, which was the original tenant. My love for downtown and urbanism can be directly traced to riding with him to Citizen's on a Saturday and heading "into the city". For those who have never been inside, it's even more amazing than the exterior. Left me with a huge, life-long interest in cities and architecture. I found a high-res oblique image of the Gold Dome from around 1967, when I would have been seven years old and about the time I'd take those trips with my dad. I had it made into a huge canvas which I've had on my wall since I moved back to OKC. It's probably my favorite structure in town, apart from First National (where I interviewed in college before the Penn Square collapse and where I chose to bank when I worked downtown in the '80s).I have very distinct memories of both buildings also. Mom & dad banked at Citizens and I remember going with dad to get loans on all our toys. Boat, camper, cabin at Eufaula, etc. I banked there also for some time. First National Tower I have terrifying memories of. I worked for a company that worked on some of the antennas on the top cat-walk. I had to assist the expert on these a couple of times. He would just go up there and walk around. There were no rails, safety lines or anything. He made relentless fun of me because I would go out the hatch, slither around on my belly and never, EVER, look over the edge. khook 03-22-2021, 04:27 PM Let’s not forget that the gold dome is an iconic piece of architecture along Route 66. Which also brings up a point of I don’t think we do enough to recognize the importance of Route 66 through Oklahoma City. Oklahoma City had several routes that are recognized as being Route 66. What other city can. Pete 03-22-2021, 04:29 PM Let’s not forget that the gold dome is an iconic piece of architecture along Route 66. Which also brings up a point of I don’t think we do enough to recognize the importance of Route 66 through Oklahoma City. Oklahoma City had several routes that are recognized as being Route 66. What other city can. Yes, which was why losing the Mutt's building -- just a few blocks to the west -- was such an incredible bummer. Dob Hooligan 03-22-2021, 04:56 PM My memory is kinda fuzzy, but I recall that the mounting areas for the hexagonal shaped tubing feature that is all over the dome were damaged from the media blasting that was done in preparation for one of the recent paint jobs. Like a series of metal fatigue type cracks around the tubing mounts, and the blasting has thinned the metal and changed it's "hardness". TheTravellers 03-22-2021, 05:09 PM My memory is kinda fuzzy, but I recall that the mounting areas for the hexagonal shaped tubing feature that is all over the dome were damaged from the media blasting that was done in preparation for one of the recent paint jobs. Like a series of metal fatigue type cracks around the tubing mounts, and the blasting has thinned the metal and changed it's "hardness". That might be what Lackmeyer was talking about back in 7/19, I don't have the energy to look for Lackmeyer's old chats, not sure if they even exist... https://www.okctalk.com/showthread.php?t=33509&p=1084529 ABryant 03-22-2021, 05:33 PM Was there an elevator couch, or a Cray computer? MikeLucky 03-22-2021, 06:00 PM If I had the money/resources I'd like to turn it into a boutique hotel/B&B type business. Small outdoor plunge pool with courtyard type area with fire pit and lounging spots. This is walking distance to the Plaza District, 23rd street, Asian District and the Paseo. It would be easy to market and have a heavy social media presence and could really be a nice destination lodging option in a very advantageous location. I would much rather see it survive than get razed. rte66man 03-23-2021, 07:05 AM While most everyone wants to see it preserved (as do I), the problem is no one can make the finances work. It would appear that fixing the roof will be VERY expensive plus you have to come up with a business model where you can make enough to pay off the reroofing cost plus extensive interior work. I doubt any lodging option would come anywhere near break even. Not sure what would. GoGators 03-23-2021, 09:22 AM The Gold Dome represents the last golden age of OKC architecture. A time in this city where people were fearless in their designs. The buildings constructed over this time period reflect the wild optimism people had of what the future of OKC could be. The Gold dome was just the fifth geodesic dome constructed in the world. The Gold Dome setting empty for another 15 years is more valuable to the city than tearing it down and replacing it with more generic nonsense. TheTravellers 03-23-2021, 09:29 AM The Gold Dome represents the last golden age of OKC architecture. A time in this city where people were fearless in their designs. The buildings constructed over this time period reflect the wild optimism people had of what the future of OKC could be. The Gold dome was just fifth geodesic dome constructed in the world. The Gold Dome setting empty for another 15 years is more valuable to the city than tearing it down and replacing it with more generic nonsense. :yeahthat::iagree::yeahthat::iagree::yeahthat::iag ree: Plutonic Panda 03-23-2021, 11:01 AM The Gold Dome represents the last golden age of OKC architecture. A time in this city where people were fearless in their designs. The buildings constructed over this time period reflect the wild optimism people had of what the future of OKC could be. The Gold dome was just fifth geodesic dome constructed in the world. The Gold Dome setting empty for another 15 years is more valuable to the city than tearing it down and replacing it with more generic nonsense. +10000 Rover 03-23-2021, 11:13 AM The Gold Dome represents the last golden age of OKC architecture. A time in this city where people were fearless in their designs. The buildings constructed over this time period reflect the wild optimism people had of what the future of OKC could be. The Gold dome was just fifth geodesic dome constructed in the world. The Gold Dome setting empty for another 15 years is more valuable to the city than tearing it down and replacing it with more generic nonsense. So, start petitioning the city to buy it and invest in its maintenance and ownership cost. You can't expect a private investor to lose money on it unless it is purely a philanthropic venture. If it is, then find a needed cultural or social issue it can address and we can raise money to do it. Or, have the city/state find some money for incentives and underwrite it for a private venture. Bottom line is that it looks like it will require some sort of public activism to keep this building alive. shawnw 03-23-2021, 11:19 AM As we've discussed with other initiatives in the past, we probably need a "Route 66 OKC Foundation" or something to that effect to look after the remaining structures along the route, raise money, buy up endangered properties, etc. Laramie 03-23-2021, 12:02 PM OKC has preserved several historical landmarks in our city like the Skirvin Hilton, Santa Fe & Union Stations. We have two dome like structures, The Gold Dome and The former egg shell First Christian Church. Our city needs to purchase these structures; protect them for their historical value. Plutonic Panda 03-23-2021, 12:04 PM You can't expect a private investor to lose money on it unless it is purely a philanthropic venture.I disagree. It isn't unreasonable to expect developers to have pride and take initiative to protect precious and significant buildings. That is why we have government to prevent this thing from happening. Bottom line is that it looks like it will require some sort of public activism to keep this building alive. Agreed but that is exactly what is going on here and the last time a demo was attempted this very thing happened. So your statement is a bit of a non-statement. dankrutka 03-23-2021, 01:39 PM It's wild that when an iconic, interesting, and historic piece of architecture lacks occupants some people are fine with bulldozing it, but they'll never request that all the non-memorable generic buildings without current occupants around town get demolished that actually have no value. I don't care if this building were empty for eternity, there's not a good enough reason to bulldoze it. This city lacks history and character because too many people are fine with tearing anything down for another gas station. BoulderSooner 03-23-2021, 01:46 PM It's wild that when an iconic, interesting, and historic piece of architecture lacks occupants some people are fine with bulldozing it, but they'll never request that all the non-memorable generic buildings without current occupants around town get demolished that actually have no value. I don't care if this building were empty for eternity, there's not a good enough reason to bulldoze it. This city lacks history and character because too many people are fine with tearing anything down for another gas station. i am fine with owners having property rights ... in this case when the current owner bought the building he knew what those property restrictions are .... so unless his plan was to build something that is clearly a higher and better use (for instance a twin tower to Classen tower ) then a demo permit should absolutely be denied .. Bowser214 03-23-2021, 01:47 PM I wish I was rich. I would turn it into one of those IMAX theaters. cafe/bar GoGators 03-23-2021, 01:49 PM So, start petitioning the city to buy it and invest in its maintenance and ownership cost. You can't expect a private investor to lose money on it unless it is purely a philanthropic venture. If it is, then find a needed cultural or social issue it can address and we can raise money to do it. Or, have the city/state find some money for incentives and underwrite it for a private venture. Bottom line is that it looks like it will require some sort of public activism to keep this building alive. Private investment has risk. Any investor would know exactly what they are buying. If a speculator buys the lot for land value only hoping to get a demo permit, that is a risk that is taken on by the investor. It does not require the city bailing them out with demolition permits on historic buildings. I expect investors to take on their own risk. TheTravellers 03-23-2021, 02:23 PM It's wild that when an iconic, interesting, and historic piece of architecture lacks occupants some people are fine with bulldozing it, but they'll never request that all the non-memorable generic buildings without current occupants around town get demolished that actually have no value. I don't care if this building were empty for eternity, there's not a good enough reason to bulldoze it. This city lacks history and character because too many people are fine with tearing anything down for another gas station. Or sh*tty strip mall with a pizza place, nail salon, and MMJ dispensary/vape shop/liquor store. How about we bulldoze all those little 3-4 store strip malls that are empty (instead of building more of them all over the city) before we talk about demo-ing the Gold Dome? And yes, I'm fully aware that's not an apt comparison, just bringing the ridiculous to this thread like the others that want to demo the Gold Dome have... 5alive 03-23-2021, 02:38 PM ^^^^Yep Wild 03-23-2021, 02:39 PM If a developer dismantled the Gold Dome, refurbished it, and built it back on another highly visible Urban Core location; would preservationists be ok with that option? If the dome was on another site the financial cost for renovation and utilization could work. At this car-centric hard corner, the land has more future value without the dome. On another note, if the concern is the lack of architectural value of buildings in OKC why don't our districts have stronger design standards? When urban core gas stations and fast food concepts are built, there is a substantial architectural difference between Pops and a random Circle K or the Film Row Sonic. Strong design standards for single use/single-tenant buildings would by default generate better site selection and utilization. https://qz.com/985578/architects-have-identified-the-10-most-beautiful-gas-stations-in-the-world/ https://www.atlasobscura.com/lists/most-beautiful-fast-food-restaurants Bill Robertson 03-23-2021, 03:08 PM If a developer dismantled the Gold Dome, refurbished it, and built it back on another highly visible Urban Core location; would preservationists be ok with that option? If the dome was on another site the financial cost for renovation and utilization could work. At this car-centric hard corner, the land has more future value without the dome. On another note, if the concern is the lack of architectural value of buildings in OKC why don't our districts have stronger design standards? When urban core gas stations and fast food concepts are built, there is a substantial architectural difference between Pops and a random Circle K or the Film Row Sonic. Strong design standards for single use/single-tenant buildings would by default generate better site selection and utilization. https://qz.com/985578/architects-have-identified-the-10-most-beautiful-gas-stations-in-the-world/ https://www.atlasobscura.com/lists/most-beautiful-fast-food-restaurants I'm pretty sure it would be multiple times more expensive to dismantle, refurbish and relocate the dome than to make necessary repairs where it is. Also I would think part of the historical significance is it's location. GoGators 03-23-2021, 03:52 PM If a developer dismantled the Gold Dome, refurbished it, and built it back on another highly visible Urban Core location; would preservationists be ok with that option? If the dome was on another site the financial cost for renovation and utilization could work. At this car-centric hard corner, the land has more future value without the dome. On another note, if the concern is the lack of architectural value of buildings in OKC why don't our districts have stronger design standards? When urban core gas stations and fast food concepts are built, there is a substantial architectural difference between Pops and a random Circle K or the Film Row Sonic. Strong design standards for single use/single-tenant buildings would by default generate better site selection and utilization. https://qz.com/985578/architects-have-identified-the-10-most-beautiful-gas-stations-in-the-world/ https://www.atlasobscura.com/lists/most-beautiful-fast-food-restaurants This may be one of the most walkable locations in the city. It sets directly between Paseo and the Plaza (the two most walkable districts in all of OKC) not to mention its proximity to the heart of Uptown. Plus it will be right on the future BRT line. This real estate is extremely important to NW OKC and it will determine how the area develops into in the future. It is much more than just the dome. IMO an empty Gold Dome that is preventing a lazy developer from turning the lot into 90 percent parking is a massive win for the entire area. OkieBerto 03-23-2021, 04:14 PM It would have been great to make this a Maps project. Make it into a tourist attraction like an Architectural Museum. Gift Shops and Screening rooms of projects coming together. Get Christian Keesee involved and call it Architect Contemporary! Rover 03-23-2021, 04:15 PM Private investment has risk. Any investor would know exactly what they are buying. If a speculator buys the lot for land value only hoping to get a demo permit, that is a risk that is taken on by the investor. It does not require the city bailing them out with demolition permits on historic buildings. I expect investors to take on their own risk. So you are fine with it sitting there rotting because the investor won't sink more money into it? No one in their right mind wants it demolished, but in order for it to actually be put in serviceable condition may require someone other than the private owner to chip in to make it financially feasible. A game of Russian roulette does no one any good. TheTravellers 03-23-2021, 04:16 PM This may be one of the most walkable locations in the city. It sets directly between Paseo and the Plaza (the two most walkable districts in all of OKC) not to mention its proximity to the heart of Uptown. Plus it will be right on the future BRT line. This real estate is extremely important to NW OKC and it will determine how the area develops into in the future. It is much more than just the dome. IMO an empty Gold Dome that is preventing a lazy developer from turning the lot into 90 percent parking is a massive win for the entire area. It's also literally right across the street from the Asian District. And totally agree with your last sentence, 1000%. I do feel for Russell (or any of these developers that have to keep making payments, yet having absolutely no income resulting from the properties). I honestly don't know how to address that, and it is a problem, not very many people have bottomless pockets that can handle that kind of loss month-in/month-out for the foreseeable future. Plutonic Panda 03-23-2021, 04:24 PM So you are fine with it sitting there rotting because the investor won't sink more money into it? No one in their right mind wants it demolished, but in order for it to actually be put in serviceable condition may require someone other than the private owner to chip in to make it financially feasible. A game of Russian roulette does no one any good. Yes because it isn't going to rot away. Someone will come in and buy it and turn it into something cool. You are just painting the worst possible picture. GoGators 03-23-2021, 04:44 PM It's also literally right across the street from the Asian District. And totally agree with your last sentence, 1000%. I do feel for Russell (or any of these developers that have to keep making payments, yet having absolutely no income resulting from the properties). I honestly don't know how to address that, and it is a problem, not very many people have bottomless pockets that can handle that kind of loss month-in/month-out for the foreseeable future. Yes, right in the heart of the Asian District as well. It's Also walking distance to a University, surrounded by thriving historic neighborhoods, multiple city parks, easy walk to midtown,. Its one of the most important locations in all of OKC . Canoe 03-23-2021, 09:14 PM It's also literally right across the street from the Asian District. And totally agree with your last sentence, 1000%. I do feel for Russell (or any of these developers that have to keep making payments, yet having absolutely no income resulting from the properties). I honestly don't know how to address that, and it is a problem, not very many people have bottomless pockets that can handle that kind of loss month-in/month-out for the foreseeable future. If he can't handle the project, then he should realize the loss and move on. Time does have value. Rover 03-23-2021, 10:22 PM If he can't handle the project, then he should realize the loss and move on. Time does have value. You do realize that means someone else has to pay to buy and then rehab and retrofit it. The numbers are difficult. That’s why it’s easier to hold and let deteriorate and get long term appreciation on the land. In OKC there are no real financial disincentives as long as the land appreciates faster than the tax burden, which is low. Wild 03-23-2021, 10:28 PM How is this one of the most walkable areas in OKC? If you try to walk through this intersection and go a block in either direction it's a horrible, life-risking experience. It's a classic case of what we want vs what we have. The Gold Dome has a massive parking lot and it doesn't have good street interaction. If the Gold Dome had never been built and a developer proposed the Gold Dome today with the same site plan as a new build it would be universally protested. Canoe 03-24-2021, 06:43 AM You do realize that means someone else has to pay to buy and then rehab and retrofit it. The numbers are difficult. That’s why it’s easier to hold and let deteriorate and get long term appreciation on the land. In OKC there are no real financial disincentives as long as the land appreciates faster than the tax burden, which is low. Maybe in this case the proper valuation is land cost minus the cost to rehab equals what a tenant would pay to occupy. It seems like the current owner overvalued the property when he bought it and thus the numbers are difficult. If the numbers are impossible then he should let it go back to his lenders who will need to sell it for a such a loss that it can be rehabilitated and they can recoup some of the losses through a loan. Everyone wants to make money all the time. That is not how the system should work. If you make a good decision you should be rewarded. If you make a bad decision you should be punished. Rover 03-24-2021, 07:37 AM Maybe in this case the proper valuation is land cost minus the cost to rehab equals what a tenant would pay to occupy. It seems like the current owner overvalued the property when he bought it and thus the numbers are difficult. If the numbers are impossible then he should let it go back to his lenders who will need to sell it for a such a loss that it can be rehabilitated and they can recoup some of the losses through a loan. Everyone wants to make money all the time. That is not how the system should work. If you make a good decision you should be rewarded. If you make a bad decision you should be punished. The ultimate rehab is demolition, which isn’t a great cost. So land minus rehab is where the incentive is. Rehabbing the building much more costly than demo. That’s why the investors let these rot. And yes, we are a society and economy that fights for profit first. Though you don’t think profit should be guaranteed, it is almost always expected and fought for in any business transaction. What you think is a good or bad decision may or may not be the same for the investor. Your idea of a bad decision can still be profitable. GoGators 03-24-2021, 08:55 AM The ultimate rehab is demolition, which isn’t a great cost. So land minus rehab is where the incentive is. Rehabbing the building much more costly than demo. That’s why the investors let these rot. And yes, we are a society and economy that fights for profit first. Though you don’t think profit should be guaranteed, it is almost always expected and fought for in any business transaction. What you think is a good or bad decision may or may not be the same for the investor. Your idea of a bad decision can still be profitable. This relies on the developer assuming a demo permit will be issued If they let it deteriorate enough. The city should not be in the business of rewarding negligent owners. This whole play is moot if the the city makes it clear that the dome will never be issued a demo permit and the only way to occupy the land is to be in the gold dome. If the gold dome is destroyed by negligence, natural disaster or other the only building permit that will ever be issued for the spot will be to build the gold dome again. This would mitigate this land hold play. Example from the UK: https://twitter.com/leemadgwick/status/1373740061116792834?s=21 This makes any deferred maintenance directly impact the investor’s bottom line and gives zero incentive to let the property become dilapidated. By the way I completely agree with Bouldersooner that if whatever was proposed to replace it was actually of higher and better use then the demo permit should be issued. But there is about a 0.1% chance of any new proposal not being absolute garbage. Bill Robertson 03-24-2021, 09:27 AM The ultimate rehab is demolition, which isn’t a great cost. So land minus rehab is where the incentive is. Rehabbing the building much more costly than demo. That’s why the investors let these rot. And yes, we are a society and economy that fights for profit first. Though you don’t think profit should be guaranteed, it is almost always expected and fought for in any business transaction. What you think is a good or bad decision may or may not be the same for the investor. Your idea of a bad decision can still be profitable. And in this case demolition would cost less than usual. Scrap aluminum gets a decent price. Plus the way I understand the engineering of the dome it would pretty much come down on it's own once a few panels were removed. It's the tension between panels that keep it up. But I still don't want to see the dome go anywhere. Plutonic Panda 03-24-2021, 02:50 PM This relies on the developer assuming a demo permit will be issued If they let it deteriorate enough. The city should not be in the business of rewarding negligent owners. This whole play is moot if the the city makes it clear that the dome will never be issued a demo permit and the only way to occupy the land is to be in the gold dome. If the gold dome is destroyed by negligence, natural disaster or other the only building permit that will ever be issued for the spot will be to build the gold dome again. This would mitigate this land hold play. Example from the UK: https://twitter.com/leemadgwick/status/1373740061116792834?s=21 . That is hilarious you posted that. I was going to find that exact post I saw on Twitter but I was too lazy to keep scrolling more than a minute so I gave up. But yes this is prime example here. Good stuff. |