Print Page | Close Window

The Studio-Revisted Again

Printed From: MiddletownUSA.com
Category: Middletown City Government
Forum Name: Community Revitalization
Forum Description: Middletown Community Revitalization News
URL: http://www.middletownusa.com/forum/forum_posts.asp?TID=6464
Printed Date: Nov 21 2024 at 7:23pm


Topic: The Studio-Revisted Again
Posted By: VietVet
Subject: The Studio-Revisted Again
Date Posted: May 15 2017 at 11:54am
In the Journal today.....

Looks like Ms. Vitori and others are entertaining thoughts of buying and developing the old Studio Theatre. They are exploring bank financing, grants, city help (stay in the private sector for the money please) and other lending options to make the Studio a Franklin "Legends" kind of place with an outdoor theatre, entertainment, etc.

The other option is to demolish the building, which the city has talked about for decades now, and make the lot yet another open area or mini-park and create yet another empty "green space" lot for the city to maintain. And who would use this "park" where it is located city officials? Not close enough to the downtown "core area" at Central and Broad is it?

Problem with these ideas is the same problem that has allowed the building to stand unoccupied for decades.......the cost of asbestos removal estimated in the millions I believe at last count.

The cost of rehabbing the building and making it into this "Legends" entertainment venue will seem miniscule versus the cost to make the site environmentally correct. Just wondering if Ms. Vitori and company have considered the cost of pre preparation prior to actually developing this building. This will cost them much more than they will ever reap in their investment even if the place stays open for business for decades and is packed every day. Just seems that the initial cost would outweigh the breakeven point as they will not see any profit from their investment for a long time, if ever.

I wish them success IF they are able to obtain financing for this endeavor but I seriously doubt that this will work.

The city can't afford to demolish the building due to the aforementioned asbestos costs and they can't give the building away for that reason as well.

Guess I'm no business person as I can't see any recovery costs at all on this idea......for the city or for Ms. Vitori's business partners.


-------------
I'm so proud of my hometown and what it has become. Recall 'em all. Let's start over.


Replies:
Posted By: spiderjohn
Date Posted: May 15 2017 at 2:52pm
better think twice----uhh---what about the ultra expensive Sorg Opera House project?? Duplication of services(though no services yet)

I smell city admin involvement(YOUR tax $$) if anything comes from this, and it would be serious contribution--and to whom for private venture??No one would do this project using their own $$ imo.
Broadway Commons??
Takin it to the Streets??
Broad St Bash??
It's not like we need entertainment or more liquor options in that neighborhood.

I like and believe in Ms.V and crew, though committees, boards, MJ interviews and spending OPM seem to be accomplishments to date. Not that she won't come through on her building venture--I seriously hope that she does. But the city(US) is seriously stuck on the Studio/Strand venue AND we don't need another Grau or Coon type venture where we give away + shell out $$$ and nothing happens---
Manchester Inn
Rose Furniture
5th/3rd Goetz Tower
Duncan Oil
etc etc etc

On the other hand--the bike shop and residential improvements to the Roberson building are pretty cool imo

OK Mr.A--let's hear YOUR version.....

Posted By: spiderjohn
Date Posted: May 15 2017 at 3:41pm
Probably more important for admin/ED would be to find a buyer or some wholesaler to take over the Marsh supermarket. That franchise is the only true food center in the heart of the city. I can't see it closing, though the parent operator is in a financial mess.

If that store goes down, then we have two Savealots to supply real food to our inner community. Trust me--not everyone can easily drive to the Krogers, Meijer, WalMart(all located on the outskirts of town--Kroger/Meijer/WalMart all together hmmm...). Many have to walk or bike to market. Our community is fast becoming a healthy food desert, and none of the smaller locals can make it work any more due to our abundance of dollar stores and service station venues. Don't see Dorothy Lane, Trader Joes or Jungle entering the local landscape.

Talk about quality of life issues afftecting the entire community instead of playtime options in our playtime former downtown

Posted By: buddhalite
Date Posted: May 18 2017 at 1:55am
Yep!

Middletown residents who need it most are going to get shafted twice in one forum post.

They're gonna have to stare at an empty eyesore for another 20 years - and they're gonna have to stare at an empty eyesore that should be repurposed by the world's largest retailer (but I remember the crap they went through to get the first store in this town) - so yeah - not to mention that they will also have nowhere but convenience stores and tobacco outlets.

This city has got to get its ostrich head out of the proverbial sands before it is too late.  

I don't want a single dime of my money being wasted on either project.  Why on earth did I come back to Middletown?  10 years away and not a single thing has changed in the govermental aspects around here.  Argh.

FWIW - it'd be cheaper for the city to send in a midnight wrecking crew (with proper protection) and rip out the asbestos and knock the building down and when the EPA figures it out just pay the fine.  It's worked for others that I know....


-------------
"Every government intervention [in the marketplace] creates unintended consequences, which lead to calls for further government interventions." -Ludwig van Mises

Posted By: spiderjohn
Date Posted: May 18 2017 at 8:16am
I expect Marsh to be taken over since it does enough business to survive on it's own. Problem could be lack of owners left in the biz who would invest the necessary funds to take the store into the future.
Serious $$ with no short-term payback. Another issue being the parent company is pretty much toast. imo ED/admin should have been and probably were aware of this issue for a long while(since everyone else has known). I turned down "buying" the place three times.

Posted By: swohio75
Date Posted: May 18 2017 at 9:53am
Rumor has been over the years that Kroger was interested in a store in Poastown.  But the Marsh footprint is likely too small for Kroger's current business model. 

Very few "local" stores left in the area. Dorothy Lane, not a chance in that area.  Remke? Closed in Dayton; just sold remaining stores to chain out of Findlay. 

Middletown store for Marsh appears to do well.  Could be viable with right owner.

Hopefully not a Save a Lot.

Posted By: spiderjohn
Date Posted: May 18 2017 at 10:20am
We already have two savealots, swo, and that is probably one too many. We NEED those locations and formats and you should be very glad that they are here and remain open. Downturn demographics turned the community that direction + the glut of dollar stores and convenience stores. I am sure that you remember from what those savealot locations originated back when we had a different style of community.

It would be nice to have real shopping amenities within the core city, though we realistically know why almost all have moved on. Thriving businesses don't shut down


Print Page | Close Window