Outstanding issues diminish property’s appeal

Penticton will have a hard time selling Eckhardt property

Driving by the “dormitory debacle”, one sees a brilliantly coloured “For Sale” sign on the fence. What could this mean? Has there been a revelation at City Hall? Are there new issues and developments that we have yet to be privy to? Could it be that there has been a lesson or two learned as a result of this “dropped ball deal?” Imagine, this piece of pristine frontal property on Eckhardt Avenue is now for sale (along with others, we are told).

Wow, doesn’t the prospect of acquiring this frontal, re-bar desecrated, water-filled excavation want to make you run out and get financing to purchase it? I can see the throngs of prospective buyers lining up at local financial institutions to secure funding such that they can get in on the bidding war that may ensue.

The mayor has suggested that there may be a developer that comes along to complete the proposed dormitory. Well, Mr. Mayor, I ask you, “What happens if no such developer comes forth?” It appears that you are relying on the fact that hope springs eternal. Ah yes, poetry, ain’t it grand?

Unless a developer is willing to pick up the dropped ball, said property could lie dormant for who knows how long. Unlike a house that may be for sale, a prospective buyer may like a property and its dwelling, but not like the interior or exterior colour scheme. Colour, in this case, is a simple fix. Compare this to the Eckhardt frontal property.

A simple issue such as colour preference doesn’t exist. Instead, a plethora of things need doing before this property may appeal to any non-developmental purchaser. This brings up several questions. To sell the white elephant, will the city make concessions to prospective buyers as to price, knowing that non-developers will have to make massive changes to make the property usable? Will taxpayers be apprised as to what happens, this time? Will the city dot all of the i’s and cross all of the t’s? Will the touted transparency be evident? Based on past performance, who knows?

Tourist season is fast approaching, as we all know. Won’t it be fun to explain over and over again as to why there is this abyss-filled, re-bar jungle lying dormant? Maybe there should be a forum held so that the real story can be told the same way by everyone — including the city.

Ron Barillaro

 

Penticton