Quote:
Originally Posted by eschaton
The weird thing about it is that area is zoned RM-M, meaning they could have built an apartment building. And indeed, they effectively manage it as an apartment complex, given they didn't subdivide the parcel and market them as rentals.
It would be a challenging parcel to build apartments on, given it is very shallow. The parking requirements in particular would be difficult to meet without structured parking. But they would have been able to pack in a lot more units, which would be much easier to rent out than those shitty townhomes.
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Interesting. I'm sure an apartment building with integral parking could have been designed for the site... though likely a much bigger investment. However, that's a prime location in Lawrenceville, especially given the quiet and greenery which the adjacent cemetery provides in the middle of the city. If they did it right, I'm sure they could see a positive ROI in relatively short time (based on what people are paying in rent in other, less "hot" parts of town).
Even if they just made the existing townhouses less "Cranberry", as photolith points out, I think they'd rent out more easily. I think it would be a nice place to live in Lawrenceville... having a back deck right on a heavily-wooded cemetery... it's basically a park.