Archive for the recovery landlords Category

TriBeCa Twelve

A Shiny Failure, Reborn as a Rehab Center

With buffed hardwood floors, a fireplace in the living room, marble in the bathrooms and Silestone in the kitchen, the 2,200-square-foot, full-floor apartment on West Broadway looks exactly like the luxury condo it was meant to be. The furniture is plush and neutral, original artwork hangs on the walls, there is a Wii console hooked up to the flat-screen television and, when the sights of TriBeCa’s bustle from the second-floor windows are not enough, there is a planted, furnished roof deck upstairs, with views stretching from the Empire State Building to ground zero.

[snip]

The project, called TriBeCa Twelve, is a collaboration between Hazelden, the Minnesota-based network of rehabilitation centers, and the Columbia University psychiatry department, and it represents an unusual resolution for a high-gloss condo development that went belly up.

The apartments did not go to buyers at fire-sale prices or to a new developer, nor did they simply stand vacant until the economy rebounded. Instead, the project is becoming a sober residence that combines a clinic and treatment programs solely for a college population.

[snip]

Hazelden looked at about 35 properties in New York, said Ann Bray, vice president for strategic initiatives, and purchased the building for just under $8.3 million last year, according to property records.

Read the whole thing…

And read the follow-up, in which the NYT asks:

Have you or has someone you know been in rehab or a similar situation and found the temptations of city life hard to resist? Or do you think that treatment centers need not be remote to be effective? Please share your thoughts and experiences.

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Related: Hazelden to Create a Generation of Replacement Addicts

h/t Stanton Peele

 

Arid Club

Akron’s Arid Club Shuts Down

A sobriety club that dates back 60 years and hosts about 20 Alcoholics Anonymous meetings each week closed its doors Friday because of “poor economic performance.”

[snip]

Changing ways of socializing might have contributed to the decline of the club, which was a destination point every year during Founders Day weekend in June, when thousands of people converge on Akron to remember the founding of A.A. here in 1935.

Because of social media like Facebook, Wagoner said, and easy access to people via cell phones, there is simply not as great a need for groups of people to gather in large settings anymore, he said.

[snip]

According to 2010 data from Ohio Attorney General Mike DeWine’s office, which regulates charitable bingo in the state, the Akron Arid Club bingo game had gross receipts of $1,231,650 and expenses of $1,105,708 for its 2010 reporting period for a profit of $125,942. Net profits from bingo are expected to be lower this year, Wagoner said.

[snip]

The business model was no longer working, Wagoner said. For example, when people attending the A.A. meetings held at the club leave $5 to $10 total per meeting to help operate the club, the donations were not enough to pay mounting utility bills.

And while membership “was in the hundreds,” lately there were only about 35 dues-paying members, he said.

Last September, the Today Club II in North Akron, also a sobriety club, closed because of financial problems.

Read the whole thing.

Related: AA’s Own Stats Show Slow Demise