What’s not to like about the headline and lead for this St. Louis Post-Dispatch column?
Buyer’s vision is 100 apartments for Pet Building
It’s happening. Mothballed for months, downtown’s distinctive Pet Building has a buyer – and a metamorphosis in the works. Balke Brown Associates has the property under contract.
Sale terms are not public, but here’s the vision: to turn the 15-story office building into 100 apartments for an estimated $30 million.
Yay, team! Go development! Build! Build! Capitalism, rah!
Until the dreaded Fine Print strikes:
- The hurdle – and it’s a big one, says Land – is securing the state and federal historic tax credits to make the deal work.
Never mind. It’s not capitalism–it’s crony capitalism. Any company that can even conceive of buying a property for $30 million dollars should not count on sucking from the government teat, and I mean should not count on my personal tax contribution to make it work.
Who died and made you Suharto?
