Michael's Message - Health & Wellness Annex: Expanded Possibilities
If you’re ever played Monopoly, you know how to figure out strategies to own all the properties of one color. It can be quite advantageous to your success in that game.
That holds true in real life. If you own all the properties on a city block, it can be a very good investment, allowing for future opportunities.
Recently, Shipley Center was presented an offer to buy the land next to our Health & Wellness Annex site for $41,000 less than the asking price. The additional two lots, numbers 4 and 6 on the site plan below, give Shipley Center control of the entire block across Hammond Street from our current Center.
As you can imagine, before this decision had to be made, everyone the board had time to consult with felt this was the way to go. Just looking at the site and the reconfigured building, you can see the possibilities. In the future, these lots can be held, sold, or developed.
Keeping potential future needs for parking and square footage strategically in mind, at its July meeting, your board approved this $95,000 purchase (original price was $136,000).
A revised floor plan of the building was submitted by the architect. It will have more storage and a third activity area of 405 square feet not included in the original plan. The entry area is spacious and will allow for receptions and mingling before and after events. New cost estimates and engineering are being done as you read this, and we will have more information soon.
In the meantime, we trust you will agree this is a good decision for Shipley Center’s future, and we encourage your continued financial support of our efforts to greatly expand our ability to serve you.
As always, thank you for your support!