Toledo Talk

Question about Erie St. Market

Seeing the story in the Blade today about the ESM made me wonder - has the city ever attempted to sell the ESM? I'm not entirely familiar with the city's history of the building. Has a private buyer ever been interested, or has the city ever tried to find a buyer?

created by dell_diva on Jun 25, 2014 at 09:09:26 pm     Comments: 12

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Nice comment from one poster at the end of the article:

"Where did all the taxpayer money that the city "spent" on the Erie Street Market go? All of HUD grants? The $80 grand (spent by Finkbeiner Administration without city council approval) to turn the civic theater into a failed concert venue? Nothing was done to replace/repair the roof. Nothing was done to insulate the building. Nothing was done to upgrade the HVAC.
Before any more money goes into the Erie Street Market, accountability needs to be established for future spending. As is, taxpayer money has been wasted on the erie street market with little to nothing to show for it. The CIP budget is stretched as is, and there are way too many potholes in the streets."

posted by Molsonator on Jun 25, 2014 at 09:23:10 pm     #  

Molsonator posted at 09:23:10 PM on Jun 25, 2014:

Nice comment from one poster at the end of the article:

"Where did all the taxpayer money that the city "spent" on the Erie Street Market go? All of HUD grants? The $80 grand (spent by Finkbeiner Administration without city council approval) to turn the civic theater into a failed concert venue? Nothing was done to replace/repair the roof. Nothing was done to insulate the building. Nothing was done to upgrade the HVAC.
Before any more money goes into the Erie Street Market, accountability needs to be established for future spending. As is, taxpayer money has been wasted on the erie street market with little to nothing to show for it. The CIP budget is stretched as is, and there are way too many potholes in the streets."

And now Hizzoner wants to spend $3.8 million that we don't have to "recover" the Marina District property. Great idea. Buy it back and stop the property tax stream it generates so it can sit there doing nothing more than it does today.

That $3.8 million would be put to far better use replacing roads.

An old friend and former Toledoan visited us earlier this week. She's lived in Virginia for the last 20 years. Her first comment upon exiting her vehicle when she arrived was "Whomever is in charge of your roads around here should be fired immediately."

I told her it was a whole bunch of "whomevers" and those are my sentiments exactly.

posted by Foodie on Jun 26, 2014 at 09:05:11 am     #  

The city should have some local, national and international high profile real estate brokers trying to find a buyer and developer for the marina district property before exercising it's right to buy the property back - it wouldn't cost a dime. If it doesn't motivate the Chinese investors (which I don't believe it will) it might find a buyer who is willing and financially able to develop the property. Only then should the city buy the property back and immediately sell it to the new investor to keep the taxes flowing (although a vacant piece of land doesn't generate a lot of taxes, some is better than none.) Too bad the casino couldn't be floated by barges to that location. It is a much better location with it's proximity to downtown and the lake than where it was built.

posted by Mike21 on Jun 26, 2014 at 09:30:42 am     #  

"If it doesn't motivate the Chinese investors (which I don't believe it will)"

Yeah, not a chance. The word is they've already scrapped their plans, with key members leaving town. Our city just elected a leader whose main campaign point was hating the Chinese. Why on earth would they stay here?

posted by Johio83 on Jun 26, 2014 at 09:43:13 am     #   8 people liked this

Also, again operating only on what I hear from those connected, the casino thing was by design. The city pushed for it to either be in downtown itself, or at the old Sports Arena site. Penn National chose the location they did, because it essentially put them on an island. If they're downtown, people could walk to another restaurant for dinner, etc. Where they are, they don't have that problem.

posted by Johio83 on Jun 26, 2014 at 09:46:09 am     #  

@Mike21:

"It is a much better location with it's proximity to downtown and the lake than where it was built."

Couldn't agree more. I guess the argument could be made that the exposure on I-75 is a plus but a Casino is definitely a destination location. Those who enjoy gambling will find them.

posted by Foodie on Jun 26, 2014 at 09:47:03 am     #  

All the more reason to start marketing the property to someone who is willing and able to develop it.

posted by Mike21 on Jun 26, 2014 at 09:47:39 am     #  

How do you market someone else's property?

posted by SherryET on Jun 26, 2014 at 02:01:51 pm     #   1 person liked this

That's what real estate agents do - market other peoples property. If the city has the right to buy it back, they should wait until a buyer who can develop it can be found, then buy it back and re-sell it to qualified developer. Wouldn't cost a the city any money.

posted by Mike21 on Jun 26, 2014 at 02:41:03 pm     #   2 people liked this

Personally I like where the casino is. It is very convenient where it is. I wouldn't go to it if it were downtown.

posted by deere1 on Jun 26, 2014 at 03:52:28 pm     #  

Should have either built it where the Sports Arena was, across from the restaurants on other side of Main Street, or further down past the restaurants.

posted by MIJeff on Jun 26, 2014 at 09:11:47 pm     #  

deere1 posted at 03:52:28 PM on Jun 26, 2014:

Personally I like where the casino is. It is very convenient where it is. I wouldn't go to it if it were downtown.

what about a downtown location would have turned you away?

posted by upso on Jun 26, 2014 at 09:18:07 pm     #