Spaulding Court is complicated because it needed to make some huge improvements for the entire structure(s) before it could start renovating individual units. I believe its all one sewer and water connection for the entire building. It's possible roof work would be needed to be done all at once, too, but I don't know that. Plus, each unit is a full gut rehab, which carries a lot of upfront costs. That's a huge financial mountain to climb for a small group of young people with few resources outside of sweat equity. If a normal developer came in and rehabbed the whole thing at once, I would bet the units would go relatively quickly. -Jon Zemke via facebook [Spaulding Court is Finance-O-Effed, Facing Foreclosure]
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