Bob Rosenbaum wrote:
Even tearing them down to leave green space doesn't strike me as desirable as having a block full of occupied homes.
CH could actually benefit from a "culling" of selected houses, even if some are replaced by new construction elsewhere. The issue is what becomes of the resulting empty lots. Splitting it between adjacent properties would raise the average property value.
Euclid had a program to encourage homeowners to buy out blighted neighbors, raze their homes and merge the lots. I think they rebated 15% of the cost.
Bob Rosenbaum wrote:
At the same time, the city and county are going to be pretty anxious to find someone willing to use the property in a manner that replenishes the significant tax contribution. Which means I would anticipate pressure for commercial use - in an area where we already have too much commercial property that is vacant or under-utilized.
Commercial use won't happen unless City Hall puts up some serious incentives, whether subsidies, abatements or sweetheart financing. No good business person will risk their own capital on a shopping center that close to so much relatively new, vacant commercial property, especially since Warrensville doesn't get half the desirable traffic Cedar does. At least they won't without City Hall offering to hedge the bet.
If the club finds they can't get the price they want, the next best thing might be to lease it for some relatively passive use that doesn't alter the property, such as a commercial venue for some low impact outdoor sport, much like its past use.