1507 Catharine

Posted: April 16, 2011 by Stephen Arrivello in Shell Properties

This is an interesting story indeed, folks.
See below for a bit of history on this property:

  • 7/11/2003 – Condemned by the RDA, along with 35 other properties in the area, known as South Central UDA – Condemnation No. 15A.
  • 4/8/2004 – A Memorandum of Redevelopment Agreement, executed 5/27/2003, between the RDA and Universal Real Estate Development Company was recorded.  In the Memorandum, Universal agrees to develop the 36 parcels as agreed with the RDA.
  • 4/8/2004 – A Parcelization Agreement, executed 10/27/2003, between the RDA and Universal Real Estate Development Company was recorded.  In the Parcelization Agreement, Universal and the RDA agree to delete 12 properties from the Memorandum of Redevelopment.
  • 4/8/2004 – A Memorandum of Amended and Restated Development Agreement, executed 3/1/2004,  between the RDA and Universal Real Estate Development Company was recorded.
  • 4/8/2004 – First Amendatory Agreement Between the RDA and Universal, executed 3/1/2004, is recorded.  This Agreement eliminates another property (759 S. 17th Street) from the project and amends the Purchase Price to $1,725,000, with a mortgage from the RDA.
  • 4/8/2004 – Second Amendatory Agreement Between the RDA and Universal, executed 3/1/2004, is recorded.  This Agreement eliminates another property (761 S. 17th Street) from the project and amends the Purchase Price to $1,650,000, with a mortgage from the RDA.
  • 9/13/2010 – A Reverter Deed was filed, transferring the property back to the RDA. This deed was signed on 5/18/2006.
Comments
  1. Maxwell Peterson says:

    Owner RDA since 2006

  2. william mahoney says:

    how much

  3. Guest says:

    A Carl Greene Special!

  4. frank rizzo says:

    This was in the hands of Universal for 5 years before reverting to RDA, which doesn’t seem to know it is their property.

  5. frank rizzo says:

    1515 Catharine St. was also in Universal’s hands, and then reverted to RDA, where it languishes unknown to RDA.

  6. frank rizzo says:

    They are still “researching” it. Even after I called a month ago and let them know they own both of them still.

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