The Value In Coronado
August 2, 2007
In general, the value of something is how much it is worth to someone relative to other things. Often measured in money but often it is not. What I would like to illustrate is that investors in Coronado contribute in a great way to the value that residents have in their neighborhood. When that value increases then we tend to cherish it more, this is a positive movement. this can be the monetary increase in the value of real property and or it can be the value increase in the social structure of the community. Both build together, you cannot have one without the other, they lead each other. I would like to use the zoning change requested by Michael J. Snitz for the SW corner of Sheridan and 10th as example. Mr. Snitz comes to Coronado with his knowledge and expertise in development and purchases a property that has had a history of problems since the 30 years I have been here. He brings in his own money and follows the guidelines for Historic preservation in renovating that property. It now sits as a example of pride for the neighborhood. I do not know what he paid for that property, I do not know what he sold the property for, I also do not know what money he invested in that property. I can be fairly certain that the will be a "profit" on that property for Mr. Snitz. Lets look for a minute at that word "profit", from ratero's perspective. this profit, money in this case is the difference between what he paid and invested, and what someone else is willing to pay for the completed project. No one was forced, a willing seller and buyer. What this "difference" illustrates is the expert ese and the knowledge that was brought to the project. The bigger the "difference" can be represented by the increased in the knowledge and expertise. this is recognized by banks and other lending institutions and that is why those with the expertise can use this capital to increase the value of things, real property or businesses. Some look at this "profit" with envy and want it for their own and do not recognize the knowledge that it requires to actually create it. If they did, then they would understand what it is, and not envy it or think it unjustified. Let us also look at what we as residents receive. that project is real property, it is not going anywhere. So the reality is that the "value" that was placed into that property remains in the Coronado Neighborhood for all of us to benefit from. the new property owners will of course have a larger stake in maintaining that value over a period of time, this benefits us as a community. Coronado was originally a neighborhood that had resident friendly businesses mixed in with the resedential property, many of these have been converted to homes so the required change in zoning is not effecting the character of the neighborhood. You can read about the specifics and the staff recommendation for approval of the change here with details as to why they support this change. It is a well thought out objective analysis. It is an interesting read about the process the change and how it related to the neighborhood. The Coronado Neighborhood Association also wrote a letter of support for this change. I support those who invest their time, money, and expertise into improving the value and quality of life in Coronado.
It is important to remember that not all persons who love and appreciate Historic Homes, and desire to live in a historic neighborhood, and live downtown in a urban setting, want to live a project. Family, jobs, time or just priority make it so that these people want a finished home. It means that they value their homes and their desire to be in Coronado. They can be equally a big a contributor to the "community" as anyone, and with more time to spare perhaps offer expertises in areas of community that need filling. Renters share that same desire.
I am happy to report that it appears that the neighborhood is begriming to support these "investors" who bring value to our community. It was exciting to see the planes for KT and Eric's new infill home overcome the setback last year, and gain approval with the assistance of the historic Preservation office. It was equally satisfying to see the plans for Lem's home approved, and for Lon's rear addition to his historic home. Sal has been hard a work on sheridan Square at 7th and Sheridan, a commercial investor improving the neighborhood, it was great to see individuals from the neighborhood work with him on his variances, and show up at the hearings, he was well prepared.. Above is a photo of a new home that was completed in the 1700 block of Oak Street, and with the hospital improvements on the way the "East of 16th" area of Greater Coronado will be on the move.
There are some exciting changes ahead for Greater Coronado, the expansion of the Historic District is on track, I am glad that E-Hood Coronado was able to play part in that. There are over 70 people signed up for the direct mailings as well as those who participate on the Central Phoenix Discuss list serve.
For those who were at the June 23 meeting, regarding the expansion of the historic District, you will recall that Barbara Stocklin mentioned that there will be a re-writing of the city's General Design Guidelines for Historic Properties (phoenix.gov/historic/permits.html) and its Historic Homes of Phoenix book. The purpose of the project is to consolidate the two existing historic preservation documents into a single set of illustrated design guidelines. This new user-friendly document will guide decision making for historically designated properties in Phoenix in the future, providing property owners with straight forward guidance on how to best maintain the historic character of historic properties and to sensitively modify and expand properties to meet modern needs. Well this is now happening and the public is invited to one of two meetings on 8/28/2007 and or 8/29/2007. Coronado is unique, so plan to attend and make your voice heard.
Ratero has met many people while working on the overlay expansion for Coronado, it is exciting to hear the views and opinions of so many people. My impression is that a progressive generation of residents live in this unique community and are excited and supportive of each other as we take Coronado into the future while preserving it's history........
Let join together in continuing to welcome those who bring value to the community both financial and those who build together a sense of community.