I’m begging our mayor and City Council to tell San Diego developer OliverMcMillan to take its $8 million offer and go fly a kite! Throughout the deal-making of three mayors and 15 years, I have followed the process. So I am incredulous at the paltry offer of $8 million when The Herald article (thankfully) detailed the public investment of nearly $50 million to date, and another $28-35 million to go.
Isn’t this the same firm that fiddled for at least the past two years, deciding whether and how much property they wanted? You mean to tell me they had to think twice about it at $40,000 per acre, much less take two years to do it?! Buildable single family lots in Everett, are what, $100,000? Lots per acre? Whatever. It just looks like a giveaway at these prices.
OK, OK. Thank them for deeding back 78 acres of wetlands, leaving them “only” 138 acres to work with ($58,000 per acre).
I salute the foresight of former Mayor Pete Kinch to purchase; I understand former Mayor Ed Hansen’s wishes that it not lie fallow. But at these prices, let’s not rush things. “Land bank” this thing until demand bids this property to a sensible value.
If I’m missing something and the city is obligated to make things happen by a date certain; at these prices, doesn’t The Herald wonder if we possess all the facts? Maybe this is one that requires some investigating the news, not just reporting the news.
Leave it as is to our kids today; imagine its worth when downtown Everett looks like mini-Manhattan.