This morning, while skimming over the Concord Monitor Web site, I saw that the real estate transaction listings were in the Top 10 most read online. I think this is a first, I thought. Hmm, why is that, did someone get something for $1?
Well, no, but the New Hampshire Bar Association did pick up a condo in Steve Duprey's 2 Pillsbury Street building, the old Blue Cross Blue Shield building, for nearly $1,877,000! No wonder he has so much money to noodle around in project after project. Why would anyone pay that for a condo when they could get a whole building for that?
I don't want to fault the guy for knowing all the ins and outs of being a developer and making scads of money. But shouldn't the city be looking at ways to make deals with other developers and not just Duprey, so the ownership in downtown properties spreads around, and isn't in the hands of three people? It would seem to me that one of the big problems with downtown right now is that there are only a few landholders and they keep the rents artificially high, which stagnates growth downtown. Making there that others like Duprey had opportunities would be the best thing in the long run, one would think.
Well, no, but the New Hampshire Bar Association did pick up a condo in Steve Duprey's 2 Pillsbury Street building, the old Blue Cross Blue Shield building, for nearly $1,877,000! No wonder he has so much money to noodle around in project after project. Why would anyone pay that for a condo when they could get a whole building for that?
I don't want to fault the guy for knowing all the ins and outs of being a developer and making scads of money. But shouldn't the city be looking at ways to make deals with other developers and not just Duprey, so the ownership in downtown properties spreads around, and isn't in the hands of three people? It would seem to me that one of the big problems with downtown right now is that there are only a few landholders and they keep the rents artificially high, which stagnates growth downtown. Making there that others like Duprey had opportunities would be the best thing in the long run, one would think.
2 comments:
Tony,
I have seen several Developers seek input from the City over the last three years. Scandia Hall, Hoyt Electric Building, and several projects on Loudon Road to name a few. Like any business, people that have knowledge and a proven track record do what they know best. Steve Duprey has shown over the many years that He has a very good understanding of the industry He is in. That is the good news.
Thank,
Mark Coen
7/31 Update
Tony,
I checked on the ownership of the properties on Main Street from Centre street to the Capitol Center for the Arts.
There are 52 parcels and 42 have different ownership.
Thanks,
Mark Coen
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