Even though Palmer was able to secure a contract with a purchase price of $40,000.00 for the old Feldman's building, "They could give me the building AND $250,000.00 cash and I still wouldn't break even," Gillis said.
Quite frankly, I'd have to agree with the man. I've always wondered just how someone could afford to revitalize that old building with the mold and other hazardous materials and afford to renovate it in such a bad economy. Vacant space is available just about everywhere.
While Palmer Gillis has a special place in his heart for Downtown Salisbury, things have to make financial sense and cooperation from the City is a must as well. Palmer hasn't received the kind of partnership I'm sure he would have liked to enjoy with the old Fire Station 16, (in which even I disagreed with) but he did win the bid.
As I've stated in the past, my hope is that Palmer wouldn't lose interest in Downtown but it looks like this may be the beginning of the end. Time will tell.
7 comments:
This City would be much better off if it didn't insist on fighting and screwing with local developers and contractors.
Palmer won the bid, but didn't meet the requirements.
Let the homless hang out there + do a Wallstreet protest like thier buds elswhere.
Okay - here is a solution for Salisbury.
The bridge must be removed and the waterway dredged all the way to RT 13. Condemn and tear down all of the structures that lie directly north of the river - with exception to Station 16.
Then - lace the entire area with boat finger piers from RT 13 West.
BINGO - SALISBURY'S INNER HARBOR
This idea came from looking at a photograph of Salisbury at the turn of the century. Salisbury was bustling with business back then - as the harbor was chocked full of schooners, ferry boats, and sailing freighters.
7:49, I like it
Is arrogance Palmer's biggest enemy or best friend? He didn't get his way on Station 16. So, now he says he won't "save" Feldmans unless he is allowed to "save" the Firehall.
Is he dictating his terms or finding an excuse to bail out?
Before you erect a statue in honor of Palmer Gillis for being a savior of the downtown, stop! Palmer Gillis like most businessmen negotiate and make deals that are advantageous to them. Always trying to take advantage of every tax payer and city subsidy. Don't be fooled by his propaganda, he would not make any deal unless the profit leans in his favor.
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