Riverside Village - A Bad Deal (9/11/12) - WDRB 41 Louisville News

Riverside Village - A Bad Deal (9/11/12)

A group called the Harrods Creek Land Management Association says it plans to build a large subdivision in the River Road-Harrods Creek area - called Riverside Village -- that includes 254 upscale homes. Sounds good, until you realize this plot of land lies directly in the path of the planned new East End Bridge.

Since it's unlikely people with enough money to afford these homes would want to live so close to the bridge, you might wonder why the landowners would suggest such an idea. But it seems to me this is just an attempt to artificially inflate the value of the land so the state will have to pay more for the portion it ultimately condemns to make way for the bridge.

These landowners certainly deserve fair compensation for any land the state has to take. But it's been long known that this area was likely to be impacted by bridge construction. Plus, neighboring homeowners insist the area's roads and waterways are already too taxed to support any new development. While the land in question is certainly desirable aesthetically, basing its value on its development potential would be a bad deal.

The new bridge has already faced too many real obstacles. It certainly doesn't need this extra artificial one.

So for the sake of all Kentucky taxpayers, I hope city planners have the good sense not to approve the Riverside Village plan.

I'm Bill Lamb, and that's my…Point of View.

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