Looks like the city is going ahead with spending CRA money to buy up properties in the beach area. Watch out, if you have a place that is not being used to its “highest and best use”, you are in danger of being under the magnifying glass of the city. The CRA board (the commission) agreed to have CRA head Kevin Klopp hire a real estate consultant to help with the buying. If you want to know what the beach area might look like imagine all the little single family houses and little motels being replaced with up to 25 units per acre, as that is what most of the zoning is in the area.
Before the bubble burst (brought to you by those who thought more housing was needed) the overdevelopment frenzy had started. Now, there are so many empty condos, townhomes and stores and foreclosed houses that thinking of building more is asinine.
Oh, yes. The thought is to have a bond issue to pay for the acquisitions, paid off by the taxes the new buildings will bring in. As if!