Necessary Noise Out Penick Way
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“Dig We Must,” went the semi-apologetic signs that New York’s Con Ed used to post on traffic-snarling construction projects.
The idea was to remind passers-by that, though the big utility company recognized the temporary annoyance it was causing with its power shovels and lane closings, the resulting improvements in service would ultimately be more than worth it.
So it is with the massive amount of construction work now under way at Penick Village in Southern Pines. Neighbors have understandably been complaining about all the shaking, rattling and rolling they’re experiencing as heavy-duty earthmoving equipment and big dump trucks come, disturbing the peace and causing picture frames to bounce about on the walls.
But after 18 months or so, once the crews have finished with their work (Penick’s first significant construction project in nearly 50 years), the retirement village will have been transformed.
With a state-of-the-art new apartment building, the resident capacity will zoom from 195 to 310. A new activities hub will offer amenities ranging from four dining areas and a life-enrichment center to a theater and convenience store.
It will all pay off in the end. They’re trying to hold the noise down whenever they can, but dig they must.
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Comments
CSmithson 3 years, 1 month ago
Not including this new addition, the County currently values the Penick property at $26 million.
The County currently values the Belle Meade property at $88 million and St Joseph at $21 million.
The total tax value on all these properties is about $135 million or about 6.5% of the total property valuation in Southern Pines.
Because of NC General Statute 105-278.6A, these "Qualified retirement facilit(ies)" are exempt from property taxes. Thus, if the County tax valuations are correct (some of the County numbers seem low, especially on St Joseph), the average homeowner in Southern Pines pays an extra $40+ dollars in property taxes each year to subsidize "Resort Retirement"
So, the question for this editorial is, will it really "all pay off in the end?"