"So is Asbury Partners actively looking for builders to take on these
properties?
Paramount has 5 city blocks with 5 phases coming...Metro has several
and so does Westminster. These will not happen at the same time
though. Each builder will be doing one phase at a time. Does anyone
know what Asbury partners' plan is quickly to develop the rest of the
area?"
They're looking for the proverbial "sucker born every minute".
You have fallen for the myth that Asbury Partners are developers;
they're real estate speculators and although I've no problem with
speculation, I do have a problem with those who counseled this council
into selling the rights to build 3000 waterfront condos, worth $375
million (Larry's price in 2004) plus $18,000/unit infra structure plus
7% of the final selling price, for $12 million (only half in cash) and
structured the deal as an option to buy or blight at 2001 prices for
30 years.
Knowing the history of the advisers, the only question I have is why
this has not been challenged as a fraud against the citizens of
Asbury? Reflection on this sorry bit of dealing unavoidably points to
how we prefer to conduct business in this state; we pay to play.
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