It really doesn’t matter why a Georgia-based real estate developer changed his mind about buying the former Wrangell hospital property and building high-end condos at the site. And it doesn’t much matter why he substantially amended his offer to the borough, months after starting negotiations, before later withdrawing the offer. Nor does it matter that he publicly blamed the Wrangell Sentinel for his decision to walk away from the development proposal, taking offense at what he perceived as criticism of his amended offer.
All that really matters to Wrangell is that the borough still owns the empty building; the borough still is paying to maintain and insure the structure; the land is not generating any property taxes — and it’s time to try again to find a buyer.
In the more than three years since SEARHC ended its lease and moved out of the building and into its new facilities, the borough has tried listing the property on a nationwide government surplus property website and contracting with a real estate agent to find a buyer. It also cut the asking price.
Tire-kickers have included concepts of turning the property into a substance abuse residential rehab center, a senior citizen living center and, most recently, half-million-dollar condos for Lower 48 retirees looking for place to escape the summer heat.
Despite well-intentioned efforts, nothing has worked.
Which leaves the hospital property in the borough’s lap. And while lapdogs can be a comforting friend, there is nothing comforting about continued borough ownership of the decades-old building.
Municipal officials and the assembly have likely learned a lesson in real estate negotiations from their dealings with the Georgia developer. And while they are more eager than ever to sell the property, they should always be cautious. Not dismissive, but it’s OK to ask questions. The borough can be careful and supportive at the same time.
Municipal law allows the borough to sell publicly owned property at less than market value if the assembly determines the development would provide an economic development boost for the community. Wrangell needs housing for locals — affordable housing. It needs more workers to fill chronic job vacancies. It needs new businesses and tax revenues. If an offer on the old hospital can meet those needs, any legitimate price could be a good deal for Wrangell, so long as the discounted price is tied to a binding commitment to carry through on the plans.
- Wrangell Sentinel
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