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Old 02-21-2007, 01:58 PM   #1
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Victory!!!!

http://www.smdailyjournal.com/articl...nions&id=71197

Quote:
City smart to drop interchange project
Residents on and near the Peninsula Avenue overpass breathed an official sigh of relief yesterday when it was officially announced that the city of San Mateo is dropping plans to expand it and add off-ramps from Highway 101.

The reason was simple. The homes that would have to be purchased through eminent domain would simply cost too much. A cursory glance around the neighborhood indicates the nicely manicured homes are worth a pretty penny and any city purchase may not have left enough money for the project.


The rationale behind the proposl’s study is that the city was looking to solve an ongoing problem of a congested and dangerous interchange at Poplar Avenue in which cars speeding off Highway 101 would compete with drivers looking to hop onto the highway.


With more residents coming to the city, officials were smart to investigate ways to make such a dangerous intersection safer. However, the cost of buying homes proved to be too high. Now, it is likely the city will have to close off Amphlett Boulevard heading south of Poplar Avenue and place a barrier so cars coming off the highway cannot head south on Amphlett Boulevard. It is not a perfect solution, but one that will work to make the intersection safer at minimal cost.


However, if there is one lesson to be learned from this situation, it is the power of information. Residents felt the city was moving ahead without their input and were alarmed that there was discussion of possibly taking their homes. The city also benefited from the traffic study which proved the cost to move the off-ramp would simply be too much.


It is an interesting and complex balance in trying to weigh the needs of the city in the future and certain residents now. The city was smart to pursue the concept and also smart to know when to back off.
The homes in our neighborhood cost over 1 million each so do you think the city would want to pay that much out per home owner?
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Old 02-21-2007, 02:03 PM   #2
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congrats
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Old 02-21-2007, 02:34 PM   #3
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Congrats Justin, but didn't you mention in another thread that your family was on some sort of public assistance at some point in time? If the homes in "your neighborhood" are one million bucks, I'd like to know how your family was able to achieve their upward mobility so quickly.
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Old 02-21-2007, 02:41 PM   #4
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Remember, over at your "HATE!" thread, you said your family depended on Government Handouts? What's the truth?
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Old 02-21-2007, 02:45 PM   #5
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Ok here is the story of my life. When we were younger we were on public assistance. Our uncle gave my dad his house to raise his family after he passed (in the will) so when my grandpa passed in the mid 1990's he also gave my dad the house. So we were renting the house and in the end we sold it because the tenants were destroying it and SF is not Landlord friendly.
So with that money about 700,000 dollars was used to buy the house in San Mateo, which cost us 850,000 (value went up.) to 1.2 million. So the house in Daly City were we were living we sold for 650,000 dollars. Now with that money we invested some and my mom who was a teacher at a private school for children with learning disabilities quit her job and started her own real estate investment company.
Up until the age of 15 we were never really rich and my grandpa helped pay for our schooling where my mom taught.
With her business she fixed up two homes and sold them making about 25,000 in profit and reinvested that money. She bought a 4 plex in idaho but that money will pay for the mortgage on that and 2 homes in ohio in a deal she made with the city government.
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Old 02-21-2007, 03:10 PM   #6
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Well, I'm very glad things are working out well for you and your family now. Thanks for your candid answer.
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Old 02-21-2007, 03:42 PM   #7
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Good for you, Justin. Was hoping everything'd be OK. My family was watching a threat of losing our home to eminent domain for highway but it seems that went by the wayside--for now anyway.
Fortunately, the place where I live suffers from a combination of short attention span and no funding. In this case, worked to our advantage.
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