CANCELED: Divinity Development

[masons_dad1]

Its the market.

[cowbreath]

I saw in the paper today that the lawsuit regarding the approval process of the Divinity development was dropped. Apparently they think they point is moot after the Divinity project is no longer going to be carried out. Hmmm....sounds like a waste of our court's time and our developer's pocketbook. I can't believe they dropped the lawsuit about something that was more about procedure than the outcome. Apparently it was about the outcome.

[hogwash]

Frankly with planning commissions and city councils the only time anyone really cares about procedure is when an outcome isn't the one they desired.

[zman9810]

I hope this isn't beating a dead horse........

I walked by the Divinity site today and saw one of Fayetteville's blue code compliance signs. I stopped and read that it was for the high grass and weeds around the only building left on the lot. It got me to thinking as to what is going to become of that space. Right now it has become an eyesore and as that building deteriorates and more weeds and trash accumulate it will only look worse. Considering Barber's troubles, maybe Divinity wasn't going to be built anyway, but I wonder if there hadn't been such a fight against it if there could be a first class hotel being built there instead of an empty lot of broken concrete and weeds. I hope that whenever the next project is proposed for that site there won't be so many anti-everything people fighting it.

[Mith242]

I hope this isn't beating a dead horse........

I walked by the Divinity site today and saw one of Fayetteville's blue code compliance signs. I stopped and read that it was for the high grass and weeds around the only building left on the lot. It got me to thinking as to what is going to become of that space. Right now it has become an eyesore and as that building deteriorates and more weeds and trash accumulate it will only look worse. Considering Barber's troubles, maybe Divinity wasn't going to be built anyway, but I wonder if there hadn't been such a fight against it if there could be a first class hotel being built there instead of an empty lot of broken concrete and weeds. I hope that whenever the next project is proposed for that site there won't be so many anti-everything people fighting it.

[cowbreath]

I would suspect it will be a few years before they get anything going there. I'm just a speculator, but I think a little speculation can be as accurate as the real information. Anyways, I'm guessing the market could take that long to adjust for housing problems, if not longer like 7 years. Anyways, for my property (that I purchased this year) I'm assuming I won't be able to sell it for higher than I bought it until then.

[mzweig]

I would suspect it will be a few years before they get anything going there. I'm just a speculator, but I think a little speculation can be as accurate as the real information. Anyways, I'm guessing the market could take that long to adjust for housing problems, if not longer like 7 years. Anyways, for my property (that I purchased this year) I'm assuming I won't be able to sell it for higher than I bought it until then.

[cowbreath]

That's a very negative view, Cow. I think there are still opportunities to make money on real estate in this market. The house I am doing now at 413 N. Willow--I bought it for $152K four months ago. I have thirteen interested parties in it, two wanting to make offers now, one offering a non-refundable option. I said "no" to all of them. It is going to break the price barrier in the area at more than $250/foot, and sell for over $500K. You can make money--you have to know what to buy, where, how much to pay, and how to improve it. You can't just buy, do nothing, and sell for a big profit. Those days are over!

M