« Met Council’s Annual Builder’s Luncheon Raises One Million Dollars | Main | "Maximum" private participation: will the Urban Room become ADT Plaza? »
August 20, 2008
Forest City firm on price for convention center site
The Cleveland Plain Dealer
By Joe Guillen
Forest City Enterprises executives said they will not drastically cut their $40 million asking price for land at Tower City to pave the way for a medical mart and convention center.
The company has already agreed to concessions for the project, including a low-cost 20-year lease of the Higbee Building for the medical mart and a convention center redesign to reduce costs. The company is not inclined to go much further, said three Forest City executives who met with Plain Dealer editors and reporters on Tuesday.
But reducing the asking price is what Cuyahoga County officials are looking for.
NoLandGrab: Next step eminent domain? Ya think that the development company that repeatedly benefits from the use of eminent domain for land acquisition (i.e. Atlantic Yards; the NY Times Headquarters; Fresno, CA) might understand if the county just forced them to sell the land at the coincidentally appraised value of $40 million.
Posted by lumi at August 20, 2008 4:55 AM