In an editorial, the Winston-Salem Journal argues that the withdrawal of one of the developers of the Plant 64 project in downtown Winston-Salem should not prevent the project from moving forward:
Thanks to the developers’ plans to retain the plant’s historic features, the project had made considerable progress, qualifying for North Carolina mill credit and federal historic tax credits. The project had completed two of the three application phases necessary to qualify for the Federal Historic Preservation Tax Incentives program administrated by the National Park Service of the Department of the Interior.
But problems developed for Niemann in Maine, where the attorney general’s office has threatened to sue him because, it says, he has failed to live up to an agreement to preserve a historic arsenal in Augusta.
These things happen in the business world, especially when the economy is so unpredictable. It doesn’t make Plant 64 any less worthwhile, though. Other investors should be standing in line to take Niemann’s place.
Our downtown is an exciting place to visit and in which to live, and Plant 64 will only add to its appeal.