That building and its owner serve as the perfect poster child for what is wrong with some of Lakewood's commercial property.Valerie Molinski wrote: For that reason, I dont think the Old recruiting office site would work. Plus, that building sucks. The owner needs to do some serious work on that facade.
It's an ugly, unsafe, unrentable, unimproved eyesore that has suffered from years of neglect. Of course, if the City would choose to buy it and tear it down as part of a general expansion of retail/living/office/restaurant space it will become the owner's pride and joy easily worth 10 times its taxable value.
Perhaps the City should propose just such a project. When the project is still born because the current owners have demonstrated that the property is worth 10 times its current taxable value at least the City will be able to collect 10 times more in property taxes.
After all, if it's worth $3 million at development time it must be worth $3 million at tax time.