I'm not a Paladino supporter. The guy refuses to work with brokers most of the time. He's got a chip on his shoulder, an axe to grind. But I know he was enthusiastic about the Greystone when he undertook it. It was a death at the site, as I remember, which turned Paladino away from the project.
That building's been in tough shape for a long time. I own a place on Johnson Park. I'd love to see the Greystone redone. It's disappointing to hear Rocco's take. I wish him all the best. Hope someone like Obletz takes the Greystone on. I wouldn't be surprised to be reading a building obit in a few years instead, though.
There's one example of Section 8 housing where even all the build out investment didn't save the building. It has to be completely redone now, if it is even salvagable.
It's interesting that Rocco is getting great occupancy in his developments. For the most part he seems to stick close to $1,000/month. I've heard that some pricier developments (some of them well known) are quietly experiencing higher vacancy than anticipated. Anyone who lives in or has familiarity with any pricier downtown developments care to comment?
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