{"id":615,"date":"2008-05-13T00:09:39","date_gmt":"2008-05-13T04:09:39","guid":{"rendered":"https:\/\/www.aroundfortwayne.com\/news\/?p=615"},"modified":"2008-05-13T00:09:39","modified_gmt":"2008-05-13T04:09:39","slug":"breaking-mayor-tom-henry-calls-for-harrison-square-options","status":"publish","type":"post","link":"https:\/\/aroundfortwayne.com\/news\/2008\/05\/13\/breaking-mayor-tom-henry-calls-for-harrison-square-options\/","title":{"rendered":"Breaking: Mayor Tom Henry Calls for Harrison Square Options"},"content":{"rendered":"

\"Mayor<\/p>\n

According to Indiana News Center<\/span>, Mayor Tom Henry has asked Barry Real Estate to reconsider options for the housing component of The Harrison.\u00c2\u00a0 As you know, recently released numbers indicate that only 4 or 5 condo units have been sold.\u00c2\u00a0 (Sold meaning contracts have been signed and funds committed.)\u00c2\u00a0 One of the options he is asking for is for units to be leased rather than sold.\u00c2\u00a0<\/p>\n

One of the biggest concerns I have had about this project from the start has been about the lack of diversity in the residential portion of the project.\u00c2\u00a0\u00c2\u00a0 A housing study completed in January 2006 stated there is a demand for luxury condominiums in the downtown area.\u00c2\u00a0 However, building 60 units of only luxury condos for sale leaves no room for leverage of the investment and as the old saying goes, puts all our eggs in one basket.\u00c2\u00a0 I think we’re now seeing the hazard involved in all our eggs in one basket\u00c2\u00a0in that\u00c2\u00a0the targeted segment is not committing to the condos.\u00c2\u00a0<\/p>\n

In his interview with INC, Mayor Henry states that the City is asking the developer to consider other options for the building.\u00c2\u00a0 Included is the possibility of a mixture of leased and flat-out purchased units, or even all leased apartments.\u00c2\u00a0 When asked if he will follow through with his intention of purchasing a unit, he stated it will depend on which way the developer goes.\u00c2\u00a0 If the developers sticks with purchase-only units, he will go ahead with his purchase.\u00c2\u00a0 If it’s a combination or leasing only, he probably will not.<\/p>\n

The significance of the City asking Barry Real Estate to reconsider, especially when Barry has yet to begin construction on the building, is huge.\u00c2\u00a0 It will be interesting to see how this plays out.<\/p>\n

Related Images:<\/h3>
\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t<\/div>","protected":false},"excerpt":{"rendered":"

According to Indiana News Center, Mayor Tom Henry has asked Barry Real Estate to reconsider options for the housing component of The Harrison.\u00c2\u00a0 As you know, recently released numbers indicate that only 4 or 5 condo units have been sold.\u00c2\u00a0 (Sold meaning contracts have been signed and funds committed.)\u00c2\u00a0 One of the options he is […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[17],"tags":[63,98,16,75],"class_list":["post-615","post","type-post","status-publish","format-standard","hentry","category-harrison-square-news","tag-barry-real-estate","tag-fort-wayne-mayor-tom-henry","tag-harrison-square","tag-the-harrison"],"yoast_head":"\nBreaking: Mayor Tom Henry Calls for Harrison Square Options - AroundFortWayne<\/title>\n<meta name=\"description\" content=\"According to Indiana News Center, Mayor Tom Henry has asked Barry Real Estate to reconsider options for the housing component of The Harrison.\u00c2\u00a0 As you\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/aroundfortwayne.com\/news\/2008\/05\/13\/breaking-mayor-tom-henry-calls-for-harrison-square-options\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Breaking: Mayor Tom Henry Calls for Harrison Square Options - 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