Quote:
Originally Posted by hookem
Hmm. Seems a bit fishy that they'd buy the lot then flip half of it to a private developer so soon. Something stinks about that transaction, although I am happy about the potential for more height on that block.
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We have to remember that there are competing interests at play here. The County needs the land and probably wants to hold costs down by downplaying the private part of any public-private partnership, but certain people (Biscoe et al) and the City want to maximize the usage of the land by playing up the private half.
Biscoe probably realizes that selling half the land is a good compromise. Play up the ability for a private firm to develop the sold half to maximum potential while allowing the county to only use (abuse?) the partnership for financial help in building the courthouse.
IF this is the case, I wo't hold my breath for a good design. Depending on which half the county is selling and which way the lot is being split, a bad design's impact could be minimized. If the lot is being split east-west and they county is keeping the more southerly half, then that means that a condo or apartment tower (or, less desirably, office) can be built with ground level retail to play off the street and park. Without being able to read the full article, I'm going to assume that this is the case as a lot that faces the park is both more easily sold and sold at a better price for the county.
This deal is optimal.