Archive for May, 2008

From the News Sentinel

Builders get $325,000 incentive in inner-city project

People buying new homes in the city’s Renaissance Pointe area can qualify for a variety of incentives. The companies building those homes may soon be able to do the same.

In a move officials say reflects a problem common to urban development — not a flaw in the city’s $16 million effort to revitalize the Hanna-Creighton neighborhood — Fort Wayne plans to make $325,000 in federal funds available to subsidize Renaissance Pointe’s three builders, which have begun or completed nine homes, most along John Street.

Well, KMPWA. This project has been doomed from the start. Another King Richard, (read: former Mayor Graham Richard) resume building project that is failing miserably. All the King’s horse and all the King’s men (heir Henry), are having one hell of a time doing damage control.

Heather Presley, the city’s deputy director of housing and neighborhood services, said the money will compensate builders who have been adversely affected by the difference between what it costs to build the homes and their appraised value as established by lenders, which helps establish sale prices.

“As the builders build, there’s nothing to compare the homes to (in the neighborhood),” Presley said, noting that appraisals are created by comparing the value of similar properties. That’s difficult in Renaissance Pointe, however, since few new homes have been built in the area for decades. The new homes that have been built are apparently too scattered or small in number to affect the appraisals, Presley said.

A new home in Renaissance Pointe may cost less to buy than it does to build — possibly costing builders thousands of dollars and making them reluctant to continue their participation in the project. To prevent that, the city will reimburse builders for a difference of up to $30,000 per home during construction of the first 11 houses.

Question. Why was Presley doing the talking, I thought Rachel Blakeman was a PIO? Granted the city is using federal dollars, however, if these *business people* had any fscking sense they would have thought twice before building in an area reeking of urban blight.

Renaissance Pointe homes start at about $130,000. Neighboring homes sell for sh*t. From the MLS listings of nearby homes for sale:

$4,500
2 Bed, 1 Bath
888 Sq. Ft.
0.15 Acres 3030 Pennsylvania St
Fort Wayne, IN 46803

$4,700
2 Bed, 1 Bath
714 Sq. Ft.
0.15 Acres 2906 McCormick Ave
Fort Wayne, IN 46803

$7,000
2 Bed, 1 Bath
1,048 Sq. Ft.
0.06 Acres 1910 Antoinette St
Fort Wayne, IN 46803

$7,500
2 Bed, 1 Bath
1,176 Sq. Ft.
0.18 Acres

$8,900
3 Bed, 1 Bath
1,418 Sq. Ft.
0.15 Acres 1404 Maumee Ave
Fort Wayne, IN 46803

And, some of the more ‘spensive homes:

$59,900
3 Bed, 2 Bath
1,146 Sq. Ft.
1115 Hamilton Ave
Fort Wayne, IN 46803

$56,900
2 Bed, 2 Bath
1,105 Sq. Ft.
1954 Dellwood Dr
Fort Wayne, IN 46803

$49,900
3 Bed, 2 Bath
1,310 Sq. Ft.
2424 Bowser Ave
Fort Wayne, IN 46803

See what I mean?

Two home sales within Renaissance Pointe have fallen through because of the slump in the housing market , said Chris Palladino, director of Neighborhood Development and Finance for Mansur Real Estate of Indianapolis, which is helping with the project. More than $7.3 million has been invested in the area since work began last year, with another $2.1 million in infrastructure planned this year, Palladino added.

At least everyone in the mainstream media is playing the same flute.

Harrison condo purchases slowing

By Kevin Leininger
of The News-Sentinel

A weak housing market and other complications have slowed the purchase of condominiums in Harrison Square , casting doubt on when construction will begin on the housing and retail section of the downtown project.

Makes you think that people in Fort Wayne might not be as DUMB as Men’s Journal thinks we are? From the USA Today article “Looking for signs of intelligent life in Fort Wayne“

From what I’ve seen here of late, it’s not the citizens that are dumbasses. It’s a little higher up the food chain.

Oh wait a sec…

Dan O’Connell of the Fort Wayne/Allen County Convention and Visitors Bureau concedes that Fort Wayne is “sort of a vanilla city” but says he was “floored” by the study. He cites the museums and universities that call Fort Wayne home. “We’re spending $40-million-plus ($64 million, actually) on a new library. That says something about our citizens. We’re building a library, not a stadium.”

Shit Dan. And I thought I was heading somewhere with this..

Batter-up! – AWB

From the Associated Press

CHARLESTON, W.Va. – Hillary Rodham Clinton has won a large but largely symbolic victory in the West Virginia primary.

[...]

Interviews with West Virginians leaving their polling places showed an overwhelmingly white electorate comprised of the kinds of voters who favored Clinton in past primaries. Nearly a quarter were 60 or older, and a similar number had no education beyond high school. More than half were in families with incomes of $50,000 or less.

I find this intriguing. Older, uneducated poor white-folk prefer white-bread Clinton over the pumpernickel democratic candidate (tongue-in-cheek).

The former first lady spent parts of several days campaigning in West Virginia in search of victory.

She refrained from criticizing Obama directly, but had a cautionary word nonetheless for party leaders who seemed eager to pivot to the fall campaign. “I keep telling people, no Democrat has won the White House since 1916 without winning West Virginia,” she said at Tudor’s Biscuit World in the state’s capital city.

Biscuits and gravy or ham hocks and collard greens?

AWB

To get to MidWest America Credit Union, of course. 

As I was leaving Jefferson Pointe from lunch and exiting onto Jefferson Blvd, a family of ducks attempted to cross the road.

In the above photo, Momma duck ducked down and started to waddle. Apparently she’s smart enough to know that when crossing a highway, the lack of clearance is everything. 

Finally! Where’s the ATM?

AWB

Hat tip: Raced White Male

The entire report can be viewed here.

AWB

Our art director was mushroom hunting halfway between Huntertown and Churubusco this weekend and found a den with a couple of kits.

Photo credit: Chris Carder – © All rights reserved.