Bankruptcy Saves High-End Development Site from ForeclosureApril 4, 2017
While on the market with an $8.9 million price tag, touting “a great starting point for a high-end housing development,” the Green Street Auto Body garage at 1776 Green Street was also scheduled to hit the courthouse steps and be foreclosed upon this afternoon.
A bankruptcy filing has postponed the potential foreclosure, however. But the property, which is zoned for development up to 40 feet in height, is likely to be liquidated in the not too distant future.
That being said, the garage’s 7,400-square-foot parcel is also currently zoned “RH-2,” a designation which prohibits the development of more than one house, with up to two units, per lot without a Conditional Use Authorization.
Comments from Plugged-In Readers
2360 Post Street, same apparent owner, also filed Bankruptcy to postpone the foreclosure sale that was scheduled today 03-04-2017.
Both Sales postponed 05/04/2017 Bankruptcy
RH-2 Zoning: Two dwelling units per lot; up to one unit per 1500 sq.ft. of lot area with conditional use approval. So one could possibly build four units.
Talk about wasted opportunity site….and the city is bending over backwards to dump 400′ monsters on the hub yet here nada.
Sale postponed 06/02/2017 Bankruptcy!
Sale postponed 07/06/2017.
Sale postponed 09/07/2017 due to bankruptcy.
UPDATE: Residential Conversion of Historic Garage Slated for Approval
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