What happens next with the Lake Placid Tower? There is no simple answer. That was perhaps the clearest takeaway from a public meeting Thursday about the landmark and the property surrounding it.
Tower owner Chuck Svirk talked about his hopes for the property and showed a conceptual rendering of what it could someday become. The rendering depicts the tower as the centerpiece of a larger development that includes 20,000 square feet of retail or commercial space on the first floor of a new building and a 20,000-square-foot boutique hotel above it. He emphasized the rendering is just one interpretation and idea.
Realtor Greg Karlson spoke at length about the complexities involved in selling the property – finding a buyer is not simply a matter of putting a price on the real estate and waiting for an offer. The tower itself, the surrounding property, potential uses and the economics of any redevelopment all factor into what a prospective buyer could realistically do with the site. He indicated that a deal with Chick-fil-A had appeared to be on the table, but “for whatever reason, they just decided not to do it.
Another possibility discussed was establishing a foundation to own and oversee the tower. But here, too, there were more possibilities than specifics.
The meeting did not establish exactly what work the tower currently needs or what it might cost, and then there is a longer-term challenge — finding a way for the tower to generate enough revenue to sustain itself. Svirk repeatedly returned to the financial realities surrounding the property: whatever happens has to make economic sense. At the same time, he said he wants something more for the site than simply filling it with whatever commercial development might generate revenue, telling the audience the town has enough fast food restaurants, dollar stores and weed dispensaries.
Ideas ranged from the much larger hotel and commercial concept shown in the rendering to events at the property and webcams near the top of the tower that could provide public views. None was presented as the answer. Thursday’s meeting made clear that there are still many pieces to put together before a future for the Lake Placid Tower takes shape — from what happens with the surrounding property to what the tower itself needs and how to make it financially sustainable.
The meeting concluded with an invitation for those in attendance to visit the tower property for special projections, giving residents an opportunity to see the landmark up close as conversations about its future continue.
