--- In AsburyPark@yahoogroups.com, "sandpiper15" <[EMAIL PROTECTED]> wrote:
>
> Another perfectly lucid post. This is good.
>
Thank You
> So, to arcman's point about it being worthwhile to rehabilitate the
> Virginia only if you could raise the rents to market rate (I'm
> presuming from his post that they're not at the moment, but I don't
> honestly know), would you advocate returning that building to market
> rate status?
>
There is no rent control ordinance in Asbury Park hence all rents are
'market-rate'. I
assume the reference was directed at the issue of maximum possible income from
luxury
units vs less expensive units. Accepted practice for successful redevelopment
is to
incorporate a mix of unit price points. (not the case in our situation)
> And, if yes, what about Jack's point about "moving all the people
> out"? Presumably, that would include at least some folks not engaged
> in illicit activity but who couldn't afford the market rate. Where do
> they go and who is responsible for helping them find alternative
> housing?
>
Relocation assistance is only required if the relocation is due to a
governmental act - in
this case eminent domain condemnation or due to the building being declared
unfit for
habitation by code officials. Absent that an owner may offer consideration to
facilitate
vacation of a building.
> I'm also curious about arcman's point here: "Elevators, corridor
> widths, ceiling heights, plumbing, electrical,
> fire protection, among countless other things would need to be
> replaced and retrofitted to meet codes and standards of luxury".
>
> Did the renderings to which you referred address those aspects? Who
> drew them up?
>
The rendering was an exterior view showing the building architecturally
restored . Interior
improvements are not part of a visual rendering. Certainly mechanical systems
and space allocations would be addressed in a building rehab to the extent that
the
owner/developer would deem necessary. The New Jersey Rehabilitation Subcode
would
be the guiding regulation. (Unfortunately a moot point since the site is zoned
for acquisition, demolition and condo development)
> Beyond that, it's been reported that both apartment and office
> buildings, particularly those constructed in the early 20th Century,
> have contributed at least as much, if not more, than automobiles to
> the total greehouse gas emissions in the United States. Would/could a
> rehab of the Virginia and/or Jersey include making them far more
> energy efficient so that they emit much less greenhouse gases (while
> also saving the owner a ton of $$$ on both heating and cooling
> costs)?
>
Going 'Green' would be the decission of the building owner, certainly it is
technically
possible. (again moot since it is to be torn down)
> BTW, hopefully it's obvious, but I'm not asking any of these
> questions out of a preconceived opinion. I don't know enough about
> the building to have one, so that's why I'm asking in the first
> place.
>
:-) The building appears to be structurally sound as of my last visit several
years ago. Masonry construction (possibly a steel frame, not certain) and
interesting unit layouts.
For comparison, built in the same time frame as the BCH which is accepted as a
viable rehabbed building that suffered from all the same issues of age, layout,
size of spaces,
etc. Or comparable to the Britwood on the same block which was caved in yet
rehabbed
very nicely.
Unfortunately the Virginia (and the Jersey) are tied up in the very poor
redevelopment
deal made with Asbury Partners preventing the current owners from moving
forward.
Werner
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