SWalker | Indy Week

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Re: “Marilyn Kille versus Carrboro: the rematch

Response to Gloria's comment. There is nothing wrong with Abbey Ct that the elimination of the slum landlord investors, and the Town's desire to have an area of artificially cheap rentals,- wouldn't solve. The strangle hold that the major owner/landlord has held is beginning to crack. In the early 2000's Mr Lucas threatened individual condo owner/residents to amass controlling ownership and majority control.Many believe his goal was 100% ownership of this very valuable piece of real estate (intersection of the 54 bypass, Jones Ferry Rd,and on free bus lines. Most of the old owners accepted his low ball offers and left. Now Mr Lucas has listed some of his units with plans to sell the rest. In the last 10 yrs, the Carboro mill houses have all gone from cheap substandard housing to some of the most expensive per sq ft in the State. Even the homes in the traditionally black area of Carrboro are becoming unaffordable for people who have lived there for generations. Carrboro, - for good or bad, - is becoming gentrified. The people who wish they had bought a Mill house 10 yrs ago, are going to wish they'd bought one of the Abbey condo's in 5 more yrs. Carrboro real estate has shot up to unbelievable prices - some of the most expensive in the State and in a town unequaled for quality of life. Carrboro has no where to expand and it's vibrant village atmosphere is unique. What Abbey Ct needs, - is what I believe it is on the verge of getting; resident owners who want a pied a terre within walking/biking distance of the Farmers Market, Carr Mill Mall, and UNC. Abbey Ct, due to market forces, is about to shake off the shackles of a slum landlord that has repressed it for his own greed.

Posted by Sylvia on 07/28/2009 at 5:28 AM

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