1.92 acres may not seem like a lot of property, but when the city allows more green space in its residential neighborhoods to be taken away and rezoned for commercial land use, it may be a bit concerning to everyone who knows about it.
Richter Enterprises has filed a request to allow the zoning of “planned development” property to be rezoned “planned business.” The small timber of land, Tax key number ZA196100004, located on Edwards Blvd. across from Walmart, located behind Aldi’s, is scheduled to go in front of city hall planning commission on April 16, 2018, at 6 pm.
Richter’s Enterprises is also requesting a conditional use permit for a multi-tenant commercial building. For example, the Starbuck’s and AT&T store on the corner of Edwards and Highway 50 is a multi-tenant commercial building. Qdoba, and Noodles & Company are also in a multi-tenant commercial building, which still has a vacant spot in-between the two restaurants. The concern here is the lack of data as regards the negative impact on housing values due to commercial development in this area. It is common knowledge that if you build near, or on a lake (any lake) the value of your home goes up since there is only so much water frontage in any geographic area. However, the interaction and closeness allowed between housing markets and commercial development can have a negative effect on the value of one of these homes. Most commercial development is done on less than desirable land, meaning that most of the homes in the near surrounding area are probably already declining in value.
The question is, do these zoning and the conditional use permits impact prices causing a decline in residential housing prices, or will the development offset the already declining property values? On the question of the property being reconsidered that is located behind Aldi’s, it is really one of quantitative value to be held by the current owners of the nearby residential land. Their rights should come first in any consideration.
The Riviera Pier complex of retail shops and entertainment centers is open. That opening isn’t necessarily for the public. It’s the opening whereby the shop owners and operators can prepare their stuff for presentation and sale later, as the weather hopefully begins to moderate. So far, the only shop brave enough, or eager enough, to start their spring season as early as possible is the wonderful Sterling Works. Sterling Works not only has a prime spot in the Riviera, but they also have a store downtown on Broad Street. Right now, the Riviera location is only open on the weekends but by June 1st they will be open for business full time, as well as the rest of the great Riviera Shops. Boats are showing up at the Riviera Piers! The Lake Geneva Cruise line offers wonderful tours around the beautiful Geneva Lake. These iconic boat tours will be starting soon.