Postby potatocoins » 31 Jul 2023 12:28
I used to live in that building, and glad I sold my condo in 2021. Given that people are fighting against this, and it sounds like they 'only' bid $2 million I feel like maybe either the people fighting against this bid will win, or that the bid itself isn't large enough to succeed. Either way, seems like a pretty dumb decision.
I have no idea how involved/expensive this would be, but I could have gotten on board with the Renaissance buying this piece of land and building some condos there. It would be cool if they could figure out how to consolidate the A tower and B tower lobbies there into one grand entrance that services both buildings, perhaps consolidate some of the amenities like the gym, and build more units in the old common spaces/gyms, etc.
It'll never happen and it's way too complicated/costly to even be feasible, but the only way a purchase of this land makes sense is if they have some plan to actually generate additional revenue from it and eventually earn back the money they spent and then some.