Submitted by Lisa M. Compton:
Most people in Le Roy have some opinion on what should be done with the Wiss Hotel. It sits in a dilapidated state on a highly visible corner of Main Street, and is one of the most prominent buildings people see as they are coming and going about their business. It is an embarrassment, an eyesore and a vivid reminder of the problems that have plagued Main Street over the years.
Like just about everyone I talked to, I want something to be done, but what should that something be? I always liked the building, and after hearing so much conflicting information about its condition, I really wondered how bad things really were and if the building was indeed a lost cause.
Inspired by a “Main Street” talk given at a village meeting by architect Rick Hauser, several of us gathered together a small group of like-minded curious people and hired Mr. Hauser’s firm, In.Site:Architecture, to do an assessment of the building as well as a feasibility study that would show whether any efforts to fix the building up were worth it from a financial perspective.
The study shows the building has high potential to be a viable business entity consisting of five apartments on the second and third floors, and several commercial establishments on the first floor. There is a detailed financial plan with ideas for securing funding.
One goal is to form a community Limited Liability Company (LLC) over the next few months to raise the $400,000 needed to get the project off the ground. We think that a LLC is a good way for local investors who may have either services or finances to invest, to participate in a project like the Wiss, and it also keeps profits within the community.
We will be holding a meeting on Thursday, November 29 at 7 p.m. in the Le Roy Village Hall where Mr. Hauser will be giving the talk “Main Street LLC, Community Entrepreneurism and the Case for Private Sector Rehab." It is open to everyone interested in finding out more about the Le Roy New York LLC and the Wiss project.
I am excited about the potential for transforming the Wiss into an attractive part of our community’s busiest intersection, and for doing it in a way that creates a return for local investors and maintains the character of our downtown.
We would skip school and go
We would skip school and go to the Wiss to shoot pool. The old men inside didn't care. But....nothing lasts forever so knock it down.
This concept is not new. Mr.
This concept is not new. Mr. Hauser made a second presentation back in March, that's 8 months ago. I think all the parties have been given plenty of time to assemble a plan, generate the necessary revenue and either move forward or allow the Village to move forward with demo. Our community needs not one more rental property not to mention several. Take a look at the 2nd and 3rd floors of viable properties on Main St. Empty.
Lastly, not one cent of Village funds generated via taxation should be made available for this project. Government is not private enterprise nor should they be in that business. IF it goes forward, it goes forward with private investment where private investors take the risks and the rewards if they should ever evolve.
Hauser appears to be a
Hauser appears to be a credible player in the arena of rehabilitation for adaptive reuse, and I suspect that there would be some market for upscale loft-style apartments even in LeRoy. While I don't doubt that a project like this could work, I think there would be resistance to using public money to fund it.
On one hand, LeRoy could potentially avoid the demolition cost by loaning cash (to be repaid) in order to jump start the project. But on the other hand, if the more-common thinking on this property turns out to be right - and in fact the building does just need to be demolished - LeRoy could easily end up with a total loss on its investment coupled with the need to go further back into its pockets in order to find money to fund the demolition.