ADS Raises Hangar Rents 18%

ADS has raised hangar rents across the board. My $310 t-hangar that occasionally floods (need to check it today) is now a $360 t-hangar that occasionally floods.

When the City and Airport folks talk about valuing their tenants, I think we know what they mean. They don't value us, they value our money.

TODR

We just went threw the increase at LAL (Lakeland,FL). If you can still fight it does so. They lowered our monthly amount by $15.00. $180.00 savings a year..

The City has been advised by a consultant that hangar rents are low for the area. Not sure how they're getting that idea. New hangars at GPM (for example) are $100/mo less and they're, well, new. But, they're at GPM, and the City of Addison knows that the North Dallas / Plano area has lots of pilots who want to be close to their airplanes. So, in their minds, they can charge what they want. Where else are you going to go?

However, the City is missing the point. ADS is my local airport. I go there because it's close. If they push me away because they want to make more $$, my support of ADS will go away too. When ADS is only bizjets, flying for corporate execs and the NIMBYs come after the airport, they might find that GA pilots aren't exactly rushing to defend ADS. Then where will the City be?

TODR

Biting the hand that feeds

In case ADS management hasn't noticed there a quite a few empty buildings and hangars on the east side of the airport. These used to be occupied by businesses that catered to piston airplanes and flight schools. Most of them are now gone.

From what I hear the new condominium hangar project on the east side is having trouble gathering enough interest. Considering the asking prices, you'd have to have a way to write it off for it make any sense. I'll be watching to see (come January) if the project actually moves forward.

During Addison's recent failed attempt to charge for through the fence access to property owners on adjacent private land, a friend of mine said the lawyer for the plaintiff's found it interesting that for cities its size, Addison averages 14 times as many lawsuits as its peers. It appears that someone at ADS just likes litigation.

No wonder so many flight departments and private fliers alike have relocated to McKinney.

Addison has such a unique set-up you'd think they'd leverage the heck out of it to get more people in there and not chase them away. The city has a huge tax base since it is mostly populated by businesses, and can afford to keep the place in tip-top shape. Just check out the police cars: Dodge Chargers and SUVs.

Too bad. It's a nice airport, but one wonders what the future holds.

Chris

I seriously doubt the hangar condo project will fly. Banks are not going to be lending money for risky projects like this (5% sold) for a long time. And ADS will be stuck with the Omniflight building for a long time.

There is a huge hangar for rent that would probably store 10-15 small planes and has been empty for a year. Why not make that into condos?

The t-hangars at ADS are a gift from people 2 generations ago who had vision and valued aviation. They are a cash machine that can't be replaced.

Fortunately, the Papa hangars are on a strangely shaped lot surrounded by toxic waste dumps, so I doubt Addison and their developer cronies will be able to build anything useful there.

update. TODR sent me a rumor that the project was canceled. I'm speculating that the developer's bank asked the city to share some of the risk (since banks are in no mood to lend anyway), and the city said no. Or the city couldn't make a deal on tax incentives.

A few thousand dollars on drainage and the T-hangars will last another 50 years. Addison bought the Omniflight building as part of this project, now they're stuck with it. It's a huge hangar with an office attached.

opticsguy said:

update. TODR sent me a rumor that the project was canceled....Addison bought the Omniflight building as part of this project, now they're stuck with it. It's a huge hangar with an office attached.

Click to expand...

Not surprising considering the cost and the number of other hangars and buildings that seem to be empty out there. And you're correct, banks are charging much higher rates for commercial loans now. Apparently they haven't seen those "lowest rates ever" commercials on TV.

Perhaps TODR could make a deal for the Omniflight hangar and turn it into an RV clubhouse

Chris