Saturday, March 1, 2014

Profit vs Image

Turning up the heat on Jamie Cherewatti on a freezing afternoon

About a dozen protesters descended on Jamie Cherewatti's 55 North Pleasant Street downtown office location, above a bar naturally, to publicly shame him for not selling Echo Village Apartments in East Amherst to a developer picked out by the town to maintain the 24-unit rental operation as "affordable."

 Echo Village Apartments yesterday (remember folks to shovel out fire hydrants)

Meanwhile, the day before, when protesters first staked out his downtown business, Mr. Cherewatti purchased the immediate neighboring house to Echo Village Apartments (also a multi-unit rental) for $360,000 cash, a little below assessed value of $377,000.

 310 Belchertown Road


 And guess who Rocky Hill Road Partners LLC is?

22 comments:

Dr. Ed said...

What is the issue? If you think apartments are too expensive in Amherst, then let someone build some more and they won't be.

For that matter, if the property taxes weren't so high, then the rents wouldn't be either...

Dr. Ed said...

And it's the lower-middle class and not the poor who are really the worse off..

Anonymous said...

Larry,

Do you think Cherewatti should sell (should have sold)or do you think Amherst should feel the pain of decades of bad decisions that have led us to our current economic housing situation. Or is it something else. It is hard to tell is you have a strong opinion on this.

They're here to laugh at said...

Pretty soon Ponziville's drooling grannies'll be waving signs saying


"I hate you!"




Causes, reasons?



Who needs em.

Anonymous said...

Good for him. He should take care of the sick and poor? He's i the business of making money, not mother Teresa. Let em find another place to live. Amherst says one thing but really doesn't want them.

Dr. Ed said...

Actually, a lot of them could share apartments == like the college kids do. Then we talk about the outright fraud, which is mindboggling.

My personal favorite is the guy who had no income -- because he donated it all to a religious organization -- and was paying $25/month for his 2 bedroom apartment. He and another guy (also with "no income") built a house over in Belchertown -- a *nice* house, I've been inside it -- which we are literally paying him to rent to himself.

I am not making this up.

And the incident involving the Latin Kings is real -- as is the fact that two small children were breathing all that pot smoke.

Ever wonder why we have so many SPED issues? Small children breathing lots of pot smoke can't be a good thing...

Dr. Ed said...

"do you think Amherst should feel the pain of decades of bad decisions that have led us to our current economic housing situation.

Get real -- the only concern is Chapter 40B (or whatever it is) -- that some developer might actually show up and actually BUILD something....

Remember folks that the reason why the HUD rules expired after 30 years was that people thought that those complexes would be razed and replaced with new ones after that amount of time. Do you know how bad the conditions inside some of those buildings are?

And maybe The Retreat won't get built -- but some mega-development instead. Say 1000-1500 units, with half "affordable."

Anonymous said...

Looks like the same losers that stand with signs for peace some days, Palestine another, and no nukes a third. The ones who stand up so feverishly for others do so as a way to protect the truth about themselves which is they can't stand up for themselves.

Anonymous said...

There is nothing wrong with what Mr. Cherewatti is doing. Its a free country and here is Amherst is no exception. If he does not want to lease the apartments to certain individuals that is very much in his right. Also, I agree with Dr. Ed, if people think the apartments in Amherst are too expensive, let people build more, lots more.

Anonymous said...

Money -- it’s the root of all evil. Behind every great fortune lies a great crime. Or at least an unfair advantage.
That’s the gist of the liberals’ creed and justification for their war on wealth. The other half of their view holds that the poor are innocent victims of life’s rigged game.

Their narrative of evil winners and noble losers clears the way for self-heroic redeemers. They will deliver social justice by meting out punishment and spreading the wealth around. Their virtue entitles them to power.

It sounds like a comic-book view of life, but it’s the reality of liberalism today and it can be found doing quite well in in the backwards and confused town of Amherst, MA.

Don't get me started on the liberal view of racism which is also alive and well in Amherst too.

Anonymous said...

Anon 11:47

I'll bite. I like your views on Amherst and would be interested in hearing about the liberal views of racism. Maybe it will shed some light on the hypocrisy that seems to be liberal Amherst.

Anonymous said...

what's wrong with capitalism.....free country...it is not mr. cherewatti's fault..he is just a businessman .....like most people in business he wants to make a profit.....i do....when echo hill and rolling green were bought/built the owners got financing if they had section 8 housing for a period of time...that period of time is over..no m mystery..everyone knew...jerry gates knew...he sold the property...and the town basing a grant on an individual selling his property....RIDICULOUS !!!....don't blame cherwatti...blame the town

Anonymous said...

The point of an LLC is to provide a "corporate veil" behind which investors who do not want to be publicly identified can hide. Each LLC does however need to have one publicly identified individual, a so-called "Resident Agent".

"Cherewatti" is shorthand for, not just James, but the collections of investors in each of "his" LLCs who want to stay hidden from view.

Some of these investors-in-hiding may be locals.

Besides some extreme circumstance that could lead to a "piercing of the corporate veil", local investors-in-hiding might worry that some trace of a connection linking their name to one of the Cherewatti LLCs might have gotten into the public record.

To make this real, consider the property card for 55 North Pleasant Street,which shows a sale to Cherewatti's RAILROAD STREET PARTNERS LLC by CASH, DR J LLC.

In the Secretary of State's Corporations Database, the Resident Agent for DR J. CASH LLC is SUZANNE M. REDER-DELANO of 28 RIDGECREST RD. (No surprise, because the Delanos bar business became Stackers)

(To be clear, these facts do NOT mean that Reder-Delano is a hidden investor in any Cherewatti LLC. These facts also do NOT mean that hidden investors in DR J CASH are hidden investors in any Cherewatti LLC.)

The Cherewatti controversy will continue, at least until Town Meeting acts on funding social services.

Local investors-in-hiding might want to get Cherewatti to put an end to the controversy already.

Anonymous said...

Wasn't there a lot of complaining about building affordable housing in South Amherst? How about putting some up in Amherst Woods or frat row..maybe at the end of Rolling Ridge. No wait lots of land at Cherry Hill Golf course.....

Anonymous said...

LLCs are LEGAL....

Anonymous said...

Anon 7:25
Good thinking...

To the rest, Cherewatti didn't know about the town's secretive add-ons to the grant for the food pantry, shelter, etc. Why aren't town officials being held acountable for their actions and lack of appropriate planning?? If I were Cherwatti, I would tell Amherst to bug off for all of the misplaced verbal abuse.

Anonymous said...

Bad news for you. LLC's are legal and anyone can get one. And bigger news, most corporations pay little or no taxes in this country and that is legal too. Liberal retards. Leeches that waste taxpayer money on educations so they can live off a system.

Anonymous said...

The point of an LLC is to provide a "corporate veil" behind which investors who do not want to be publicly identified can hide.

Wrong. The point of an LLC is to provide a "corporate veil" behind which investors are protected against personal liability, hence the name "Limited Liability Corporation" or LLC.

It has nothing whatsoever to do with shielding investors' identities.

Anonymous said...

On March 3, 2014 at 12:00 AM

'And bigger news, most corporations pay little or no taxes in this country and that is legal too.' FALSE

Newsflash, most small businesses are incorporated and they pay a ton in taxes, especially those that make a profit.

Work your ass off to make a profit, and then just pay it back to the government.

Anonymous said...

"Newsflash, most small businesses are incorporated and they pay a ton in taxes"

Then they need a better accountant.

Anonymous said...

> The point of an LLC is to provide a "corporate veil" behind which investors are protected against personal liability, hence the name "Limited Liability Corporation" or LLC.
>
> It has nothing whatsoever to do with shielding investors' identities.

Not to be forgotten though is the clear and collateral benefit provided to local investors, other than the Resident Agent, of allowing their identities to be hidden and their reputations protected.

Anonymous said...

James Cherewatti (J.C.!) is a Christlike figure who takes entirely upon himself the abuse that the local investors hiding behind the LLC corporate veil fear their reputations would be subjected to, were their identities known.