A few thoughts about today's demolition of the house at 205 Everett St that was the subject of blog posts in August 2008 and October 2007.
The property was sold last week for $350,000. The City assessment for the property was much too low. The City thinks the land value is $159,000. According to the demolition permit it cost $10,000 to demolish it, so the City was off by $200,000. I've written in other locations about the City assessing land for much less than a developer will pay for it and I think it is time for our cash-strapped City to catch up with the reality of the market.
This is a prominent location in our neighborhood. We should watch closely to see what the City and developer are interested in having built here and make sure we speak up loudly if the proposal is another 6 or 8 units of dorm-style apartments (like what has been built on Raymond and Adamson recently) that is contrary to our community goals for more ownership, more families, and more stability and diversity in our neighborhood.