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Old February 20th, 2007, 04:06 PM   #1101
StevenW
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Nice building.
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Old February 20th, 2007, 04:18 PM   #1102
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http://www2.arcproperties.com/graphi..._Baltimore.pdf
interesting link/info.
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Old February 20th, 2007, 04:47 PM   #1103
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Senator Donations

http://www.senator.com

Hey everyone go to the Senator website and make a donation. I grew up blocks away from this great theater.
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Old February 20th, 2007, 04:50 PM   #1104
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Really love that building. You can't put a value on that type of architecture.
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Old February 20th, 2007, 05:00 PM   #1105
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^AHA!!!!!

That answers my questions about the gargage....I knew this whole process was going to be a bitch!

Nate
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Old February 20th, 2007, 05:16 PM   #1106
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Quote:
Originally Posted by getontrac View Post
I think the Project 5000 program has helped quite a bit.YES, I'm aware it is not perfect or great, but I think it was and is a much needed step in the proper direction. Many houses sat idle with absentee owners with liens on them and the City worked to acquire properties to package for individual sale and group rehab by developers. I think this was one of O'Malley's more successfull iniatives. The legal issues involved in doing this have slowed the process more than most would like, but this is not a problem that could or can be solved overnight.

Nate
Project 5000 was devised in 2001. The City said they would acquire 5000

vacant houses so they could be put back on the tax role and thus

occupied. The City was praised by many all over the USA for trying to

get 5000 empty houses occupied! I mean this was going to be huge.

It is now 5 years later and the biggest real estate boom in the history

of mankind has come to an end. At most 100 of those over 5000 houses are

now occupied. The City has never given out this number which is very

easy for them to calculate.

So what do you call this?

Remember this is not like saying we are going to get murders to below

175 a year. If people are going to kill you really can not stop them. We

are talking about a physical commodity that the City had full control

over. How on Earth could the City come up with such a dismal rate of

occupation (100/5000) over a 5 year period during an unprecedented boom

in the real estate market?

There are other questions the City needs to answer (and I will get these

answers if I end up on City Council)

1. How many of the over 5000 properties are actually houses and how many

are actually empty lots?

2. How many of the over 5000 properties ended up in the hands of JHU so

they could build their east side project?

3. How many of the over 5000 properties were already owned by the City

before the announcement of project 5000 in 2001.

4. In the houses that ended up in the hands of investors why did the

City not monitor the length of time it took for them to be worked on?

5. During such a hot real estate market why did the City need to enlist

the help of Realtors through SCOPE and how were these Realtors chosen?

6. During the entire process were investors favored over owner occupants

and what sense does it make adding in a middleman (investor) into the

process?

7. Who in the current (as of 2007) administration should be held

responsible for the results? Housing Commissioner Paul Graziano? Mayor

Dixon?
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Old February 20th, 2007, 05:30 PM   #1107
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Please site your references for your "100 occupied".

Also, selling to investors is probably better than selling to individual homeowners in many cases, because the investers have better cash flow and are more likely to make projects work if they get lots of houses due to scale economies.

Sure, many of the houses were for projects like JHU, and Uplands and the like. It it still the same net effect.

Faults in the Project 5000 do not necessarily make your idea superior. People were not buying or selling houses in dead neighborhoods and as I mentioned before, many homes had tax issues hovering over them. The past was not working.

I believe the Project 5000 model was a better model than the previous status quo. I'm not sure I differentiate the previous status quo with what you are advocating.

Lets get some specific documents and responses to each of your questions from the City or via a FOIA, then we can chew the fat on who, if anyone, messed up.

Nate
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Old February 20th, 2007, 05:32 PM   #1108
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Quote:
Originally Posted by cgunna View Post
I applaud you running for public office. Its one thing to piss and moan about the state of things. Its something altogether different to do something about it.

But my question to you is simply, sell them to whom? I mean its really easy to say that, but do you know 10,000 folks looking to buy homes in the neighborhoods where most of the vacants sit?
Sell every one to who ever will pay the most BUT give potential owner occupants the first chance on every one.

It could be set up like this. One day there could be a very large gathering at the convention center or arena. Lists of houses would be on the web for months before. Each house would have a minimum listing price. Let us say that 2329 Linden is listed for $20k. Before the meeting date 4 potential home owners signed up for this house. If all 4 show up they get to bid until one wins. If none show up any investor in the building can now make a bid. Perhaps only half the buildings could be sold like this and the rest just left for the highest bidder.... it could be worked out later. The point is that the houses would be sold and revenue would be generated. Owners could also be forced to pay 3 years of property taxes in advance. There are a lot of different ways you can go with this. Right now the City is just sitting on houses. The City can not tax itself so there is no revenue. When they fall down the City has to pay to clean them up so there is in fact a loss going on here.

Remember it is better for the houses to be empty and owned privately (generating tax rev) instead of just sitting there empty owned by the City.

If you like my new line of thinking that will shake up the City Council then please email me or visit my web page. I need support of all kinds!

Thanks
Adam
-----
[email protected]
www.AdamMeister.com
Lower Property Taxes now
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Old February 20th, 2007, 05:40 PM   #1109
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I see that point, however, I suspect that the City is taking a more strategic, planning approach and concentrating on certain neighborhoods first, thereby making that effort more successfull.

I'm am not personally confident there would be enough people to come down to the convention center with the money and the risk to buy all those houses and agree to fix them, hence why we are where we are. I respect your idea, but I don't necessarily find it better than Project 5000 at this point. After all, the City did have to go through the seemingly time-consuming process to acquire the absentee owners and get rid of the liens (however that works).

I'd like to continue this conversation now, but I must eventually get to my City job, where I will drink coffee on your tax money . (I'm injured; light duty.)

Nate
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Old February 20th, 2007, 05:40 PM   #1110
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Project 5000 is better than the old system. There was NO old system.
There is nothing wrong with selling to JHU, just tell us the truth. We were all lead to believe that 5000 HOUSES would be sold and people would end up living in them. The SCOPE aspect of the project was supposed to bring in owner occupants and we were told that was in the contracts. I have looked at the contracts and in fact that is not in the contract. If investors do not take loans from the City they can sell to a Landlord.

From what I have seen Project 5000 was made up of a lot of empty lots the City already owned.

Here is a story from 2005 where they said about my comments: " Those accusations are unfounded"

http://calbears.findarticles.com/p/a...8/ai_n15836605

They also took a photo of me standing in front of an empty SCOPE house that was on the original project 5000 tour in October 2002. It is now 2007 and the house is still empty.

They also said:
" It's a complete success, to say anything else is ridiculous, he said."

I will point out once again that today is 2/20/2007 and that house along with MANY other SCOPE houses in the area are still empty.
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Old February 20th, 2007, 05:48 PM   #1111
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Last, quick note before I'm out. I just respond to the vacant lots part. My recollection is that the City did want to expand to vacant lots for practical and logistical reasons for development purposes. I don't think there was a reason NOT too....

Nate
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Old February 20th, 2007, 06:03 PM   #1112
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I believe the city's first initiative was to demolish abandoned, boarded up homes with no real plan other than to leave empty lots so I'm not sure if it ever had the desire to actually fill the lots. I grew up in west Baltimore and saw them tearing them down a lot. That empty lot looks a lot better than what was there before. Boarded up home = decay. Empty lot = future development possibilities.

Selling one home isn't going to be a solution to the city's vacancy problems much less be a possibility considering the city's problems. Neighborhoods have to be fixed, not individual lots. Who wants to buy a home in the middle of a warzone.

Id prefer mass demolition and reconstruction. Hopefully we won't need a Hurricane Katrina see that its necessary and to take action.

But we do need some $$$
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Old February 20th, 2007, 06:38 PM   #1113
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What's the average cost of rehabbing your typical row house anyways? Not a tiny one but one that big enough for a family of 4+?
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Old February 20th, 2007, 06:52 PM   #1114
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[QUOTE=adammeisterin2007;11823432]

Remember it is better for the houses to be empty and owned privately (generating tax rev) instead of just sitting there empty owned by the City.

QUOTE]

I really feel you on your passion and all, but how do you think the City got all thses houses in the first place? They ALL once belonged to owners.

Who rented them out (mostly)
Who kept the properties in piss poor condition. Largely because collecting 475 a month in rent doesn't afford much money for repairs.
So the renters moved out
So the house sat. Empty.
No taxes got paid.
7 years later the City has the house.

I just think we need a better plan as what to do with the properties. A effective longterm solution. We need to actually get the neighborhoods to the point where folks want to live there.

If not, We can just end up with the same situation.

And trust me, the City does not want to own all these houses.
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Old February 20th, 2007, 07:54 PM   #1115
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Quote:
Originally Posted by thrill View Post
The hotel at the B&O is stated as the "first" 10 boutique hotel. The rendering for 10 Inner Harbor states that it's boutique hotel represents Baltimore's and the brands "second".
The '10' brand boutique hotel was never supposed to be in 10 Inner Harbor. ARCWheeler always contended that the hotel flag would be an upscale national brand. For some reason I want to say they were going after W Hotels pretty hard.

I think having a Hotel 10 at the B&O building is great. It should really help liven that area up. I like the hotel zone thats being created along Redwood Street.
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Old February 20th, 2007, 08:15 PM   #1116
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Quote:
Originally Posted by Silver Springer View Post
What's the average cost of rehabbing your typical row house anyways? Not a tiny one but one that big enough for a family of 4+?
Depends on the neighborhood. My mom lives in Idlewood which is one of the northern most neighborhoods in the city (it actually boarders Towson). She bought her house for $90K like 8 years ago. House in that area are selling for $220K now. I think her area is pretty average. Nothing fancy at all.


**sorry...you said the cost of rehabbing. I didnt even read that.**
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Old February 20th, 2007, 08:25 PM   #1117
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Apparently the Pratt Street redesign proposals are on the table today. We should hear something about this later tonight online from the local news organizations like The Sun, BBJ, etc.
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Old February 20th, 2007, 10:14 PM   #1118
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Sale of Sparrows Point mill ordered
Action by Mittal would satisfy antitrust concerns, Justice Department rules
By Jamie Smith Hopkins
Sun Reporter
Originally published February 20, 2007, 11:33 AM EST
Mittal Steel Co. NV must sell its Sparrows Point mill to satisfy concerns that it would have a monopoly on U.S. tin production, the Justice Department declared today.

The agency said it is requiring the move as a result of Mittal's recent $33 billion merger with Arcelor SA of Luxembourg. The combined company, to be named Arcelor Mittal, would be the world's largest steel producer.




Netherlands-based Mittal has previously said it would deal with anti-competitive concerns by selling either Sparrows Point, in Baltimore County, or a mill in Weirton, W.Va. Last month it said it was negotiating with Esmark Inc. of Chicago to sell part or all of the Weirton plant, which seemed to signal that Sparrows Point would not be changing hands.

But the Justice Department said it wants the Sparrows Point mill sold instead because it is "a profitable and diversified facility that has the capacity to produce more than 500,000 tons of tin mill products annually," and, unlike Weirton, makes the steel slabs used to manufacture those products.

In a statement, the agency said the acquisition, "as originally proposed, would have substantially lessened competition in the market for tin mill products in the eastern United States."

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Old February 20th, 2007, 10:41 PM   #1119
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Quote:
Originally Posted by StevenW View Post
Sale of Sparrows Point mill ordered
Action by Mittal would satisfy antitrust concerns, Justice Department rules
By Jamie Smith Hopkins
Sun Reporter
Originally published February 20, 2007, 11:33 AM EST
Mittal Steel Co. NV must sell its Sparrows Point mill to satisfy concerns that it would have a monopoly on U.S. tin production, the Justice Department declared today.

The agency said it is requiring the move as a result of Mittal's recent $33 billion merger with Arcelor SA of Luxembourg. The combined company, to be named Arcelor Mittal, would be the world's largest steel producer.




Netherlands-based Mittal has previously said it would deal with anti-competitive concerns by selling either Sparrows Point, in Baltimore County, or a mill in Weirton, W.Va. Last month it said it was negotiating with Esmark Inc. of Chicago to sell part or all of the Weirton plant, which seemed to signal that Sparrows Point would not be changing hands.

But the Justice Department said it wants the Sparrows Point mill sold instead because it is "a profitable and diversified facility that has the capacity to produce more than 500,000 tons of tin mill products annually," and, unlike Weirton, makes the steel slabs used to manufacture those products.

In a statement, the agency said the acquisition, "as originally proposed, would have substantially lessened competition in the market for tin mill products in the eastern United States."

[email protected]
The mill will be sold because it's "a profitable and diversified facility." Would the government come and step in and help those companies less profitable, i.e. General Motors or Ford? Gotta love antitrust...
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Old February 20th, 2007, 11:59 PM   #1120
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Well, you know, I really thought SmithBarney would have been a little more aggressive in building its Baltimore operation after inheriting LM's brokerage division. But it appears that they're taking essentially the same amount of space they previously occupied in Harbor East. I honestly thought they would have leased 50-60k ft, instead of 42k. Oh well. It could be worse. And I predicted it would be within the traditional boundaries of downtown. Wrong again.

So, now we have lots of vacancy opening up in the CBD. Over twenty floors will open up in the 100 Light St. building, to add to the huge chunks of space remaining at 750 E. Pratt and 1 E. Pratt. There's thousands of jobs we could potentially add here -- the question is, will they come from outside the city or from relocations within the city? I say that Downtown Partnership should take a step back from flagrant self-praise in its next report and address the growing problem of our "multiple downtowns" and what work needs to be done to shore up real estate & the progress of investment in the CBD.
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