Land on East Franklin Avenue between Portland and the freeway has sold for between $23.00 and $29.00 per square foot (within the last two years ). Is the view of a freeway and the Minneapolis Convention Center across the same freeway more valuable than downtown riverfront? How much would we have saved if Sharon, Jackie and their cronies had not "sold" out the City and allowed Opus to buy and develop the Target site?
Vicki I am willing to partner with you to offer $10.00 per square foot for the same land. Perhaps we could start the "MPLS List Development and Trust Company, LLC". If this is indeed not a subsidy then our offer should be accepted. You know Vicki we could build "Affordable " mixed use on the site, Condo everything for home ownership and individual business ownership, and still do all right, buying the land that cheap. You know Vicki you are fighting unfairly. Like Foghorn Leghorn says, "You can argue with me but you can't argue with mathematics". Jim Graham, Ventura Village (and wondering why I don't ever get deals like that) ----- Original Message ----- From: Victoria Heller <[EMAIL PROTECTED]> To: Mpls Forum <[EMAIL PROTECTED]> Cc: <[EMAIL PROTECTED]> Sent: Saturday, October 05, 2002 9:32 AM Subject: [Mpls] Guthrie Land Sale: More fun with numbers..... > One acre of land contains 43,560 square feet. > > Last fall, Steve Cramer (then executive director of the MCDA) said that the > land sale to the Guthrie involved "no subsidies" - it was a "fair market > value" deal. 10 acres of the City's BEST RIVERFRONT LAND for $3 million. > That was $6.79 per sq. ft. > > Now we ponder selling two parcels: > > Seven acres to the Guthrie for $4 million = $7.62 per square foot. > Three acres to ????? for $2.3 million = $5.68 per square foot. > > A Few Questions for Council Members (MCDA Commissioners): > > Minneapolis paid $50.00 per square foot for Target Store land. Why is > Riverfront land so cheap? > > Why is there a discrepancy between the two prices: $7.62 vs. $5.68? The > parcels are adjacent. > > How much did the City pay to acquire the land, and how long have we been > holding it (off the tax rolls?) In other words, what was our COST - so we > can calculate our LOSS. > > Lots of investors would LOVE to buy riverfront land at those prices: Where > do we submit our bids? How will you choose the WINNERS? > > Eagerly awaiting a reply, > > Vicky Heller > North Oaks and > Cedar-Riverside (a stone's throw away from the site in question) > > > > > > _______________________________________ > Minneapolis Issues Forum - A Civil City Civic Discussion - Mn E-Democracy > Post messages to: [EMAIL PROTECTED] > Subscribe, Unsubscribe, Digest option, and more: > http://e-democracy.org/mpls > _______________________________________ Minneapolis Issues Forum - A Civil City Civic Discussion - Mn E-Democracy Post messages to: [EMAIL PROTECTED] Subscribe, Unsubscribe, Digest option, and more: http://e-democracy.org/mpls
