Stock Photo And Blog Post By John Hoff
The Petro Gas Station on West Broadway is reportedly set to be demolished as early as 8 a.m. Monday morning, depending on the weather, etc. The gas station was formerly owned by notorious North Minneapolis slumlord Keith Reitman and was sold by Reitman to a developer, reportedly before the big economic crash of 2008.
The site is expected to have apartments in the not-so-distant future.
The stock photo above is a child's toy car left on the steps of a foreclosed house at 2719 Lyndale Ave. N.
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8 comments:
Did Keith sell the property to the developer or did the city take the property from him?
By Reitman. Two words inserted into the text of the story to make that point a bit more clear.
Clarification: the sale occurred in November 2004, so not right before the econ crash, but before the econ crash. The sale was for $419k. The current year taxable market value is $115K.
The address of the parcel is 2601 WBro
Boy was that smart of Keith. He's one hell of a businessman. Thanks for clarifying that. Nice!
Text has been corrected from "right before" to "before" the economic crash of 2008.
As for Keith being a smart businessman: the guy is being sued because a child fell out a window where the screen was reportedly just stapled. So to save a few bucks on a window, so much time will have to be spent in court. How is that being a smart businessman?
Also, he painted "Vote For The Sista" on his building but he can't paint the same building with attractive colors and trim?
Smart is in the eye of the beholder and we shall see what kind of estate the man leaves behind as a legacy.
That was a technicality.
I would like to see a large apartment complex that provides sustainable and renewable housing for a low cost to the occupants.
Two questions for the proponents of the planned development on West Broadway;
1) Will the development have the effect of raising or lowering the mean income of the surrounding neighborhood?
2) What effect does raising or lowering the mean income have on property values in a neighborhood?
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