Tuesday, June 16, 2009

MDHA's Private-Public Partnership on Rolling Mill Hill Hits the Skids

Despite its increasing focus on growth through condo builds, Nashville's only governmental real estate developer, the Metropolitan Development and Housing Agency, has allowed 3 condos at Rolling Mill Hill to list into receivership and lost a Baltimore developer who would have built out the retail part of the development.

Why can't public housing authority MDHA effectively market RMH condos? Probably because the price tag is too high for a grand view of the mountains of scrap metal at the Steiner Lift metal works across the river.

Metro has already dumped $10 million into the project; another example of indiscriminately locking ourselves into an expensive project that we cannot afford to stop spending on now?

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