The Waiting is the Hardest Part

"Wait. Design. Pay Interest. Wait. Design. Pay Interest."

Queue Jeopardy music.....

"What is the progress stage of 308 West Main, Alex."

There seems to be progress but none to write about. We meet for our weekly Tuesday meetings and discuss material, elevation and other details of the floor plan. When complete, they go before engineering and the city for approval. Hopefully I then get permits and work begins. Until then, there's nothing much to write about.

The waiting is the hardest part
Every day you see one more card
You take it on faith, you take it to the heart
The waiting is the hardest part

The Wall

With tribute to Roger Waters & David Gilmour:

Hey you, standing in the road
always doing what you're told,
Can you help me?
Hey you, out there beyond the wall,
Breaking bottles in the hall,
Can you help me?
Hey you, don't tell me there's no hope at all
Together we stand, divided we fall.

The artwork Brian painted on the door reminds me of the the screaming face from The Wall's album artwork. I don't think it was intentional 'cause I never mentioned Pink Floyd during the painting session. Weird.

Anyway, it's complete and I think very cool (or as David's 12 year old daughter said "beast"). I hope the rest of the city thinks so too.

Alive with the Sound of People

Brian and David came up with a great idea on Friday - "Paint the Storefront".

So yesterday, Brian is on the street soliciting folks to stop and decorate the plywood that is the temporary barrier of the building. And folks did. Kids would paint and then giggle with glee; spraying paint all over themselves and parent. A father stopped by to see what we were doing and then asked if he could go home and get his family. Four teenagers spent 2 hours painting flowers, characters, slogans, lyrical lines and "The Hendrix Company" slogan. Even Otis, a white poodle mix got in the action. Brian painted a picture of Otis on the temporary door and Otis signed his approval with his paw prints. In RED! The paint is water soluble but poor red footed Otis. What fun.

David is coming back today to bring his daughter. He'll put up scaffolding and paint the top portion that couldn't be reached from ground level. I'm suspecting a different kind of art today. Yesterday's was "real" because of the fun it gave to people. I suspect today's will be more "professional". I'm sitting here on Sunday morning and can't wait to see what they come up with.

This really is brightening Downtown. I hope others agree.

More History/There's Friedman's

Most of the demolition is complete. The storefront is coming down. Pulling up the wood planks that were the entrance reveals this tile walkway.

Appraisal Returned

The appraisal came back today and was very near the amount that I needed it to be. This means the bank will loan me the money needed for construction. So, onward toward Building Permits and City Approvals.

The appraisal process was interesting: no buildings in the downtown core have been built, refurbished and then resold. So, what's the basis for the folks performing the appraisal to make their estimates? This posed some challenges. In the end, the building's appraised value = Purchase Price (approved during purchase loan) + Construction Cost.

I've been reassured that NO buildings for sale after refurbishment is a good thing for me as it shows the building is a good investment and will climb in value. I'll know in time.

Demolition is nearly complete. The visual impact of removing the "stuff" is significant. The space looks cool. Very cool. But it also looks empty and the task to make it seem like a home appears more daunting. I'll take some pictures this weekend.

Pre-Demolition Photos

Danny Mac came through with some photos just days before demolition began. Here's the link to all of them. I'll pick a few to comment on, especially as progress gets underway.

This one is from the 3rd floor, front of building looking toward the back. In the far back, left corner you can see a handmade staircase that goes up to the rooftop. The hatch door leaked and allowed rain to come down the stairs. I'm hoping to not find extensive water damage. Of course, the rooftop gets major repair.

The stairway down that you see will be patched and become the approximate location where you will come up from the floor below (opposite direction). I am standing in what will become the hallway. The closet and bathroom will be along the left wall. The bedroom will be in the back. Danny is taking the photo from what will become my office/study/rec room. Somewhere in this space will be a cutout to the floor below, creating a loft. This was located in the front where Danny is standing, but the city won't allow if I intend to apply for tax credits.

Construction Loan Approved

Friday, I got the following from my banker:

Increasing the loan.....was approved contingent upon the building appraising......... I'll get (them) started on the appraisal tomorrow.

I guess I should be concerned the building won't appraise for the loan amount, but that would be valuable (though disappointing) news. So, I'm counting this note from my banker as a major milestone along the project path.

Harrington Bank has been convenient to deal with. These are uncertain times in the US regarding real estate loans. I'm finding Harrington cautious, which they should be, but also liberal. Not having a large governing board seems to allow them to process work close to the customer. I suppose it should always be that way but it isn't. Go Harrington!