GREEN MOUSE SAYS: Why has the city of New Albany purchased apartment buildings and a strip center between Slate Run and Old Ford?


3:30 p.m. update: Zurschmiede Properties says Elevate got it WRONG; Lone Star Apartments has not been sold and only a Slate Run easement was taken over by the city. Apologies for any inconvenience. I’ve found Elevate to be reliable, but there always are exceptions. This apparently was one.

Original article below.

“I have a contact who believes the apartment complex behind Zesto, between Slate Run and Old Ford, now belongs to the City of New Albany (it’s one of Kevin Zurschmiede’s holdings). If true, this was a mighty quiet acquisition.”

The Floyd County Elevate web site says yes, it’s true — but neither a transaction date nor a selling price appears in the listing. As with the listing shown above, all four properties involved have the City of New Albany as owner, but also still include Zurschmiede’s name.

Funny, isn’t it? There was no mention of this at last evening’s city council meeting, even as more than one council persons and grassroots activists expressed support for a comprehensive consideration of the Charllestown Road corridor from Vincennes to … that’s right, the area where Slate Run and Old Ford meet Charlestown Road.

Council rejects Gahan’s, Redevelopment’s Colonial Manor tax increment financing lollapalooza by a 5-4 vote. Alterations to come?

1636 Slate Run Road is a multi-purpose commercial building perhaps best known as the home of Mac’s Hideaway and Empire Comics. It’s a hybridized building, and Zurschmiede is shown as still owning the western side of it.

1637 Old Ford Road is the address for Lone Star apartments.

Let’s briefly hypothesize. The New Albany Housing Authority has been buying commercial properties unsuitable for housing.

GREEN MOUSE SAYS: Bet you didn’t know NAHA owns these properties on two corners of Main and Vincennes. Why?

GREEN MOUSE SAYS: Why is the New Albany Housing Authority buying commercial property at the dumping grounds downtown on State Street?

The City of New Albany is buying apartment buildings on Old Ford Road.

Do you think there’s a connection, and a series of property “swaps” are imminent?

Going a bit deeper, now that Jeff Gahan’s theme park Disney fetish has run its course, is he the new property-slinging, wheeler-dealer Donald Trump?