A Tale of Two Developers

It was interesting to hear about how the Key Bank building is going to be converted into a mixed use building. From the Recorder:

The former KeyBank building at 29 East Main St. is proposed to be renovated by Cranesville Properties, LLC. Joseph Tesiero, property manager, said the company’s plan is to have four upscale one- to two-bedroom apartments per floor from the third to eighth floors. The second floor could be used to develop a townhouse. The first floor, Tesiero said is planned to house a microbrewery that would serve alcohol on-site.

I thought this was interesting in light of the Chalmers fiasco so let’s take a look at the two projects.

Chalmers versus Key Bank Development

Chalmers versus Key Bank Development

Fascinating, isn’t it?

With Chalmers we get all kinds of political pushback; all kinds of uproar about how such a project will never , ever work in Amsterdam; all kinds of absolute certainty from the local media — newspapers and radio– on how it is a boondoggle and how dare a developer take public money to fund private development to — gasp– make profits. And of course, as it is Amsterdam, rumors, innuendos and blatant lies on the project as a whole to discredit it fueled , again, by our local media and amplified by the abundant naysayers and doubters and do-nothings.

Fascinating that none of the Chalmers demolitionists and sages of economic development are not vocally discrediting this effort, especially our local media pundits who pulled no punches in discrediting such development in the city.

Of course, Chalmers required demolition and as there is no higher or no more noble goal than demolishing stuff, I should be hardly surprised that this might be a factor. You know, better to knock something down than take a chance on a $20 to $30 million residential development. But still, the projects overall have very much in common, yet the community responses differ so wildly.

So come on guys and gals, why so mum on Key Bank repurposing?

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