Comment 86066

By seancb (registered) - website | Posted February 08, 2013 at 11:59:33 in reply to Comment 86054

Blanchard bought all of those buildings for something in the neighbourhood of 400,000 dollars. Why so cheap? Because the seller and the purchaser both knew that the heritage value of those buildings would mean that renovation costs would be higher than if one was buying the same square footage in a business park in the suburbs.

So blanchard took some photos to "prove" the neglect was not his fault, moved just enough tenants in to cover his carrying costs, and waited until he figured the time was right to attempt to rip off the city and its taxpayers.

Blanchard went into this knowing full well the risks and costs. and now he's crying about it?

If he doesn't like it, he's fully welcome to sell the buildings to someone who understands heritage and will renovate them.

I could round up enough investors to get him his principal investment back - plus interest and inflation - in less than a week.

Would he sell? No. Why not? Because this is about being a speculator, not a developer.

I vote down for offensiveness and up for humour. I cast no votes based on my level of agreement.

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