--- In AsburyPark@yahoogroups.com, "Hinge" <[EMAIL PROTECTED]> wrote:
>
> That being said, is Asbury Partners living up to their agreement?
No. They never have and probably never will.
> I don't know much about
> them, and I intend to spend some time this week learning more
about them.
Here is all you need to know about them - they suck. They are
amateurs, they have never built so much as a dog house, they are
nothing but tax lien vultures. The proof of the pudding is in the
tasting. Five years since MOU, four years since WRA - little
progress. Not that I want all of the condos to come on line, but I
find it remarkable that we have so few subdevelopers during one of
the most prolific real estate cycles in history. Two possible
reasons - 1) Fishman's terms are too greedy 2) little faith in
Partners and AP, exhibited predominately by the condition of the
beachfront buildings.
Larry et al have it ass backwards. They can read all the real estate
books they want. While typically you don't see the retail built
before you have the residential density, you will not get the latter
without the former. Not that you need retail per se, but you can't
have the beachfront look like Dresden circa 1945. Had the beachfront
been built out first there would be many more subdevelopers and
development. But that takes risking money and that is not what
Partners does. It doesn't spend a dime of its own. The Council had
the chance to do something about it but chose not to. A couple of
years of litgation would be better than 26 more years of chasing
them. Partners is ruining this city.
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