A 128-unit, four-storey seniors housing complex being proposed at 4500 Ospika Blvd., near the intersection of Ospika and Tyner Boulevards, appears to be in violation of an agreement between the developer and the City of Prince George.
A covenant agreement attached to the purchase agreement says: "The Covenantor will commence construction of the proposed student housing project upon the Property and will have completed framing on or before 24 months following the completion of the purchase of the lands." Under the covenant agreement, if The Hub Collection is "in breach or default of any of the material covenants or agreements," in the deal, the City of Prince George has the "exclusive and irrevocable option" to purchase the land, including all improvements, back for $485,000.
The City of Prince George’s Advisory Committee on Development Design was scheduled to review the proposed design for the facility during a meeting on Wednesday, which was cancelled.
What a ridiculous situation. If this all falls through are we stuck at looking at a mud pit? Re plant the trees and leave it be.