Philanthropist Pleasant T. Rowland quietly ended her partnership with Wells College in May, just before she put home decor firm MacKenzie-Childs up for sale. Both moves suggested her six-year string of sometimes controversial investments in Aurora was over.
However, this week the Pleasant T. Rowland LLC purchased one of the last private
commercial buildings in the village for more than five times its assessed value. Jane Morgan's Little Shop sold to the Madison, Wis.-based limited liability corporation for $1.35 million, according to property records.
The women's boutique owner said the sale will not change anything at 378 Main St.
“She helped renovate the building and it was always the plan it would go back to her, so there's no surprise,” Randi Zabriskie said Friday.
Zabriskie has a 10-year lease on the property formerly owned by Douglas Wood of King Ferry. In a partnership with Wells College, Rowland invested millions of dollars in several other Main Street buildings through the Aurora Foundation.
“This is probably just a continuation of that,” village Mayor Thomas Gunderson said, adding he had only heard the transaction took place.
As for the price, he noted some assessments in the village do not reflect market value. The Little Shop was assessed for only $270,000.
Gunderson noted the property was one of the last commercial spots downtown that wasn't owned by the college, it's philanthropic alumna Rowland or the village, which leases the post office building. He could only name the Cayuga Lake National Bank as a remaining private commercial spot in the center of town.
The former Executive Director of the Aurora Foundation Katie Waller said she was unaware of any plans for 378 Main St., adding the foundation became defunct in May because its mission to revitalize the village was complete.
Rowland personally announced she was putting MacKenzie-Childs up for sale in June. Plans for the Aurora Foundation to renovate the Heary Building, 371 Main St., for the U.S. Postal Service suddenly fell through in April.
Some in the village have been critical of Rowland-related investments, saying they followed her personal vision and squeezed out longtime business owners.
Staff writer Shane Liebler can be reached at 253-5311 ext. 248 or shane.liebler@lee.net
commercial buildings in the village for more than five times its assessed value. Jane Morgan's Little Shop sold to the Madison, Wis.-based limited liability corporation for $1.35 million, according to property records.
The women's boutique owner said the sale will not change anything at 378 Main St.
“She helped renovate the building and it was always the plan it would go back to her, so there's no surprise,” Randi Zabriskie said Friday.
Zabriskie has a 10-year lease on the property formerly owned by Douglas Wood of King Ferry. In a partnership with Wells College, Rowland invested millions of dollars in several other Main Street buildings through the Aurora Foundation.
“This is probably just a continuation of that,” village Mayor Thomas Gunderson said, adding he had only heard the transaction took place.
As for the price, he noted some assessments in the village do not reflect market value. The Little Shop was assessed for only $270,000.
Gunderson noted the property was one of the last commercial spots downtown that wasn't owned by the college, it's philanthropic alumna Rowland or the village, which leases the post office building. He could only name the Cayuga Lake National Bank as a remaining private commercial spot in the center of town.
The former Executive Director of the Aurora Foundation Katie Waller said she was unaware of any plans for 378 Main St., adding the foundation became defunct in May because its mission to revitalize the village was complete.
Rowland personally announced she was putting MacKenzie-Childs up for sale in June. Plans for the Aurora Foundation to renovate the Heary Building, 371 Main St., for the U.S. Postal Service suddenly fell through in April.
Some in the village have been critical of Rowland-related investments, saying they followed her personal vision and squeezed out longtime business owners.
Staff writer Shane Liebler can be reached at 253-5311 ext. 248 or shane.liebler@lee.net
The Citizens' Say
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Farmer's Gal wrote on Sep 15, 2007 6:16 PM:
marsha wrote on Sep 15, 2007 11:02 AM:
Auroran wrote on Sep 15, 2007 9:04 AM: