Woman Builds French-Style Mansion on Skid Row

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Woman Builds French-Style Mansion on Skid Row

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ALBUQUERQUE, N.M. - Looming over a barren industrial neighborhood locals call skid row, stands Gertrude Zachary's castle.

Rising like a fortress between a rescue mission and the railroad tracks, the estate is encircled by a wall 10 feet high. Within is a pool, courtyard garden, guest home and a 8,500-square-foot main home with four turrets each rising 50 feet into the air.

...

While Ms. Zachary said she spent $2.1 million to build the mansion, a knowledgeable local expert estimated it cost perhaps double that amount. The assessed value of the home and land is $1.3 million.

http://realestate.yahoo.com/promo/woman-builds-french-style-mansion-on-skid-row.html

:whoa:
 
Excellent, property values just went up for this neighborhood and I bet she puts money into her surroundings as a result of her living there now!
 
Rana said:
Excellent, property values just went up for this neighborhood and I bet she puts money into her surroundings as a result of her living there now!
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you think her mansion will change that? could be, if so she is one smart cookie...but property will have to increase approximately 200-300%
 
Yurt said:
you think her mansion will change that? could be, if so she is one smart cookie...but property will have to increase approximately 200-300%
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She definitely overbuilt, but what if she has long range plans we aren't aware of? She could buy up property cheaply and improve conditions, it is what I would do with that kind of money!
 
Rana said:
She definitely overbuilt, but what if she has long range plans we aren't aware of? She could buy up property cheaply and improve conditions, it is what I would do with that kind of money!
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thats true, i guess if you have that much money, it is possible to transform something, but it will take lots o' money
 
In Nawlins whe had a blighted old Wharehouse industrial district that was blighted and is now a convetion center, upscale condo restraunt art district.
I'm not saying she has grandiose plans, but if she bought up some other land in the area I wouldn't be shock if other investors don't follow her.
 
Rana said:
Excellent, property values just went up for this neighborhood and I bet she puts money into her surroundings as a result of her living there now!
Click to expand...

Have you ever lived in Albuquerque? I know this neighborhood, she will never get out of it what she put in. Never.
 
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