Fester offers thorough and well-thought commentary on new plans for the former Lazarus site in downtown Pittsburgh. The post even mentions AntiRust:
Yesterday was the URA board meeting that is the final board meeting for the current group of board members. Some people, such as Sala Udin, are rotating off the board, and some people, next month will be rotating onto the board as they are due to be appointed by the new Mayor and other entities. Nothing too unusual here, and as the Post Gazette reports, a few useful things were accomplished. The old Lazarus building was sold in what seems to be to be about the most fiscally responsible manner for the city and URA with no new expenditure of public funds, and a chance in hell of actually recouping all of the loans and previous subsidies. And yes, to Antirust's probable chargrin, there will be nifty loft apartments there, but they look to be privately financed and developped, so good luck to them.
Hit the link and keep reading. It's good stuff. In the meantime, I tried to offer a response in Fester's comment section but got all gummed up in the "no anonymous poster" thing. I am sure I can manage to register as a Blogger user, but today I am pressed for time. So I will post the response here:
The loft apartments cause no chagrin. I have tried to point out that I
would probably live in one if I could afford the rent. So I am not against
them as a concept.
As you mention, the new plan seems to be drifting back towards private
funding. To the extent that that happens, I think this is a positive
development.
My gripe is with the folks who build such apartments on the public dime
and promise that in doing so they are somehow revitalizing the entire
city. Which is false.
If the city is doing well enough to attract/maintain the kind of people
who might want to live in these apartments, I think that is a very good
sign. And the fact that there are people willing to bet their own money on
that happening is even better.
And I mean it. Young creative people and the lofts they live in can be a real plus for any city. As long as everyone else isn't forced to pay for those lofts.
I should have added a smiley face --- I know the point that you have been pounding on, and while I will disagree with you at the margin, I am probably in 75% agreement with you on this issue.
Fester
Posted by: fester | December 09, 2005 at 10:57 AM