--- In [email protected], "arhythmick" <[EMAIL PROTECTED]> wrote:
>
> Does anyone know what Asbury partners'
> plan is quickly to develop the rest of the area? It seems like they
> should be actively pursuing interest...since they are making money
> on each new condo sold, why don't they agree that the faster the
> development the better?
> Thanks for any insight.
I think they are hoping that Madison Marquette bails them out of the
retail since they totally f'ed that up. That is not a done deal. MM is
still in due diligence I hear. If Partners gets too greedy I think MM
will book.
In one respect one would think Partners would want development to come
faster since they get a piece of the action. Part of it I chalk up to
stupidity; part of it is greed. The other parts are that they feel they
have a strangle hold on the city for 26 years and there is not much
anybody can do about it - pure arrogance. Lastly, I repeat again, you
are assuming the typical development mentality where you try to get out
of the ground as quickly as possible. When you use other people's money
you don;t really care. Larry is milking this for all its worth.
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