Summary
The CRA board wrestled with a developer's request to buy the city-owned Parry Block for $2.5 million—a massive $10 million discount off its appraised value. Board members felt uneasy about gifting so much equity without clearer math explaining how site constraints drove down the value, prompting them to send staff back to the drawing board.
At a glance
- Total mentions
- 1
- Last 30 days
- 1
Discussed at 1 meeting in the last 60 days; most recently Oct 13, 2026.
Impact analysis
Potential $9.5 million land discount or foregone revenue for the agency in exchange for community benefits.
Future condominium buyers, low-income renters, local artists, and the developer.
Mentions & discussions (1)
Related development
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