For those that remain interested in the progress of the apartment project along Lamar from Lincoln to Rolling Hills Country Club, I have good news. Mr. Kembel has been working very hard to get the Country Wood Apartments under contract from Fanny Mae. Just yesterday I recieved word that this has been accomplished and it looks like North Arlington has a facelift coming in the very near future.
I have a great deal of confidence in Mr. Kembel's ability and his character as a person. I have every reason to believe that demolition will start within the next six months. I would imagine that relocation will now become his priority. This has to be accomplished in a very specific and orderly fashion, with respectful consideration for those individuals affected by this project.
What about the project that was once called saphire? The last I read, this is being re-pitched as student housing.
ReplyDeleteYou are right it is being pitched as student housing now. The project area has been demolished but the developers have not come back to Council for permitting or to recoin an agreement with the city. Essentially, we haven't heard from them and we have no agreement with them.
ReplyDeleteIn a situation like that, is it the developer that is left holding the bag until an agreement is reached? Are they the ones that spent the money to buy the land and do the demolition before they had the funding lined up?
ReplyDeleteThe developer had his own personal money tied up in the earnest monies. The purchase of the properties will be from the investors and the demo costs will be supplied by the city in this instance. The purchase monies will be from local investors and the construction monies will come from out of town.
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