City Prepares to Sell Land at 30 Cents on the Dollar

Doing well by doing good” is a notion that always churns up feelings of ambivalence. So does city land-use. And while the city hopes to do good by selling a parcel of land to the Boys and Girls Club for a clubhouse at not quite 30 percent of its assessed value, the developers who erect condos above the clubhouse stand to do well. Very, very well.

The land in question is located on Fulton and Gough streets and called “Parcel F.” While its assessed price exceeds $8.4 million, a resolution is working its way through the city legislature to sell the site, currently a parking lot for the Opera, to the Boys and Girls Club for $2.5 million.

While only a special class of NIMBY would begrudge a pool, gym, and gathering point for disadvantaged children — in gang-neutral territory no less! — the near certainty of six or so stories of condos above housing 30 to 60 residential units is a different matter.

As is the question of whether the city will derive any cash from that development. That depends on who you ask. 

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