Friday, June 18, 2010
Friends Care to return Barr property to Morgan Foundation
In a letter from the Friends Care Community that was received by some residents today, Board President Mary White stated that the FCC board has voted not to continue to pursue senior apartments on the Barr property. According to the letter, the decision was based on a number of factors, especially the downturn in the economy, which has required an increased focus on continuing "the essential care and services that we provide in our skilled nursing and assisted living facilities." The letter goes on to point out that FCC's grant agreement with the Morgan Family Foundation, which transferred the property to FCC, requires the return of the property if FCC cannot complete their project. FCC spent $307,000 on architectural design and engineering studies, White said.
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3 comments:
I read the letter. 307,000 dollars was spent on the plans alone. There wasn't much of a sense of financial reality in a small nursing facility assuming such a huge obligation. They missed the bullet on this one. What if they had actually begun building?
Maybe they could have been successful, if there had been fewer people attacking them for their choices and a little less NIMBY.
I don't think the NIMBYs had anything to do with scuttling the project, since the PUD was approved on schedule. I don't have any inside information about it, but the most plausible rumor is that they couldn't get financing because they couldn't show the project was viable—the bankers didn't believe the apartments would sell well enough to pay for the project.
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