Quote:
Originally Posted by TheRitsman
There's a bit of sketchiness going on here as always with the city. Firstly Aeon doesn't even own all the land yet, and the land they do own was sold pretty cheaply with no requirements to build anything in a secret deal with the city.
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That's one way to look at it.
Another is the city gained 11% or so on a property it bought less than 2 years ago. The remainder will probably net a far higher return (I don't know what they bought it for when the stadium was proposed to go there, but couldn't have been much... this
2013 RTH story notes $8 million in 2009 which seems to fit the "close to $13 million" total noted in the Tuesday article; parcels 2 and 4 on the map must have been almost $1.5M valued together if the dollar values for the rest are correct)
If Aeon had not purchased the former AVL plant on the west side of Queen/Stuart I'd be suspicious. They could still turn around and decide to flip this recent buy, or future ones, but given the continued strong activity in film in the area I do feel they're in it for the long game.