Friday, July 1, 2011

Another little "ruh roh"

The state did not allocate $15 million needed to complete the Cancer Research Center, immediately across Tulane Avenue from the UMC Footprint.

That does not bode well for the UMC - it shows the danger of proceeding without having all of the financing issues worked out for a major project involving state funds.  Or, even if they are worked out, it shows that a project that leans on state funding is still very much subject to the inherent vicissitudes of that source.

I'm not mentioning this because I'm opposed in some way to the Cancer Research Center - unlike the proposed UMC, it's reflective of the need to build dense, vertical construction that reflects its urban context and avoids destroying an excessively large part of the urban grid.  I'm merely pointing out this "canary in the coal mine" show how difficult the financing picture remains.

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