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Article: Westhope on OK's Most endangered list

 
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DavidC



Joined: 02 Sep 2006
Posts: 6439
Location: Oak Ridge, TN

PostPosted: Thu May 10, 2018 10:52 am    Post subject: Article: Westhope on OK's Most endangered list Reply with quote

(scroll down ~ halfway)

Oklahoma City's Founders Bank added to endangered properties list


David
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ZacharyMatthews



Joined: 17 Jan 2012
Posts: 43

PostPosted: Tue May 15, 2018 8:45 pm    Post subject: Reply with quote

Sort of senseless to list Westhope as an endangered property, The 20+ year owner is financially stable, the property taxes and general maintenance on the property are kept up. We wont see a restoration from her but I don't foresee any thing that should place it on such a watchlist.
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DRN



Joined: 10 Jul 2006
Posts: 3513
Location: Cherry Hill, NJ

PostPosted: Wed May 16, 2018 9:12 am    Post subject: Reply with quote

I believe the concern is that the current owner is only doing the most basic maintenance... that larger work which might slow serious deterioration may not be being implemented in a timely manner leading to gradual decline. When the current owner eventually goes to sell the property, a new owner would be saddled with a much larger restoration project than would otherwise have been necessary. When restoration costs are added to a presumably high asking price, finding a new owner who is willing and able to take that on may be difficult. For this reason, buildings, particularly large complex houses, in poor condition become vulnerable to being sold to owners who may just want the land in a desirable location for redevelopment.
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