A request for an update on some of our development projects was made on November 4th, one was the Sunrise project and another was the Condos on Oakland.
On learning of Sunrise's cancellation, I suggested that Shorewood purchase the Sunrise property as soon as possible.
It seems that I had also recommended its purchase before the proposal for the Sunrise development and later on, I was not the least bit keen on the way we were going to develop it and along the lines it was taking. Now a new start.
The condos on Oakland, on the other hand, are to be built on land that we we bought and this land was made available for the proposed condos. There's been a long delay in the start of construction which is understandable under these economic conditions.
What are Shorewood's obligations in this situation and what are those of the developer? What are our next steps?
During the “great” depression, there was a 16-story steel girding, an uncompleted downtown building that remained standing and unfinished for a number of years in the community where I lived. It stood as a reminder of the depression that we were undergoing.
I don't know who carried the cost of the structure's idleness. I don't know which of the agencies are carrying the cost of the economic idleness of our proposed condos on Oakland while the project remains in limbo?
Should we be anticipating any answers? Are we going to get an update? Or is it really necessary for the public to know about the status of this project?