Asheville... McCormick Heights

Okay. So I am new to North Carolina and I am starting to look around at some things. Most things here in Asheville are pretty cool, and I agree with the city council, for the most part.

And then there is this.

from Mountain Express

In December, the Asheville Housing Authority – which manages McCormick Heights for the property owner, a subsidiary of Progress Energy – announced that the project had sunk into severe debt, with only 40 of the 100 units occupied, and that the owners planned to sell it.

Now, first off why is the city managing a private apartment complex? And if said private apartment complex is only 40% occupied, no wonder they are going broke and why is the private owner getting this special treatment?

Because they are Progress Energy's money-loss machine?

What's the matter, Progress? Expiration date on losing money write-offs coming up next year?

Or is there something I am missing here?

Please. Anyone. Set me straight on this.

Comments

Screwy Hoolie might know

He and Syntax are in Asheville. Have you ever visited the local blog, Scrutiny Hooligans?

Welcome to NC. My home state. Hope you will be happy here.

Robin Hayes lied. Nobody died, but thousands of folks lost their jobs.



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Vote Democratic! The ass you save may be your own.

wjms

Yo.

Good to hear you're in Asheville. The city council website is excellent, and you'll likely find your answers there.

For an excellent almost comprehensive list of Asheville blogs go to the BlogAsheville
blogroll. The blog itself is languishing of late, but the blogging community is strong.

Scrutiny Hooligans - http://www.scrutinyhooligans.us

Also

Come down to Drinking Liberally at Asheville Brewing Company on Coxe Ave. downtown on Thursday nights from 7-10pm. We'll hang out.

Scrutiny Hooligans - http://www.scrutinyhooligans.us