Warning: array_merge(): Argument #2 is not an array in /home/vincemic/public_html/wp-includes/load.php on line 63
Frank Lloyd Wright Demolished | Vince Michael

Frank Lloyd Wright Demolished

January 11, 2018 Economics Comments (1) 703

Last summer I was visiting my daughter in Kalispell, Montana, a lovely historic town.  One day we toured nearby Whitefish, which has a small history museum but was quite the contrast, as I mentioned in a blog HERE.  The one highlight was our discovery of a late Frank Lloyd Wright building, even labeled as such – completed as a medical office in 1961.

I am on the Board of the Frank Lloyd Wright Building Conservancy and at the time I remembered the controversy and concern for the building.  Modest, it still echoed the Marin County complex in its rolling sculpted eave and horizontal emphasis.

But this week it looks like this

Why?  The pat answer is greed, but the real answer is hidden behind a seeming expression of greed: $1.7 million.  The blatantly unreasonable request almost sounds like “$1.7 million or I kill the building!”  And he followed through, which may have been the intention all along.  The piles of rubble remind me of the 1972 piles of the old Chicago Stock Exchange, which was similarly flipped up until it had a price it could not sustain, because real estate is the only asset class whose value is fully externalized.

It is usually a con.  Those silly preservationists think it is valuable, so I will ask them for too much money and then blame them when I demolish it.  Which is exactly, in every aspect, how a kidnapping for ransom works.

This was the trade Chicago made in 1972 after the Adler & Sullivan Chicago Stock Exchange was flipped by promoters to an unsustainable value.  To be replaced by a physical absence, a building that you can’t even look at for more than a second if you try.

So, that is the greed angle and the ransom angle, but what about The Vacant Lot Myth: that a cleared site is worth more for an owner?  I covered this a couple years back HERE.  It is like The Beige – what realtors tell you to paint your walls to appeal to the widest possible audience.  Not the best audience, not the best price, but the largest potential market.  Which leads to absences.

Here is your tradeoff!

Sadly, the absence in Whitefish builds on a local legacy of absence.  There is a plaque where they tore down their oldest building about five years ago.   Tourists may still come through on their way to Glacier Park but they will have less reason to linger, less to see, and less to remember.

 

 

One Response to :
Frank Lloyd Wright Demolished

  1. Aristo von Hoffman says:

    You are right. Sad that these people act this way. 🙁

Leave a Reply

Your email address will not be published. Required fields are marked *