Sounds like the developers are running into a few issues that will complicate the planned renovation of the building.
With the history of failed attempts it’s hard to be optimistic, the developers seem to want to do the right thing but it’s definitely going to cost them more than they expected and that’s a hard pill to swallow.
They are asking a lot to rebuild essentially a falling apart eye sore. I get the idea of trying to make it look nice and show the growth but i feel like funds would be better used leveling it and building something new
I think the difficulty of leveling it has always been the biggest challenge facing the property. There’s asbestos and other toxic chemicals that would need to be removed and the structure is thick reinforced concrete so you’re looking at millions of dollars if all you wanted to do was demolish it and start over. It’s going to take deep pockets and taxpayer money to fix this problem, but there doesn’t seem to be a better solution.
That’s true. I wonder how well they’ll be able to work around the asbestos and whatnot if keeping the current structure. Obviously many actively used buildings have it but since they haven’t fallen into disrepair it generally hasn’t been too much of an issue in comparison the author here mentions the walls bowing out and being misaligned so it seems like fixing the structural issues will be a nightmare. Guess I see why they are asking for so much