Quote:
Originally Posted by JK47
If you're too eager to take any deal then the only deal you'll get is a bad one. Learning to walk away in negotiations is a skill that some should learn. In this case, Lincoln Yards is no more "challenged" than other areas of the city that transitioned from industrial to other uses. Underutilized relatively inexpensive land in the midst of comparatively heavily developed and utilized expensive land will attract development. After all, it already did so once when it went from pasture to industrial uses (you'll note it isn't currently grassland). It would or could redevelop over time in the hands of several developers versus redeveloping slowly over time in the hands of one developer (as other projects of this magnitude have) whom we've paid handsomely for the privilege.
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I do not see LY as just any deal. Its unique, how many deals of this magnitude is happening across this country at this time. Did you notice all the cities that were willing to pay even greater incentives than is being offered Sterling Bay for the Amazon HQ2. Its not about being too eager, its about taking advantage of an opportunity that with an economic downturn being on the horizon may never pass this way again. Sure there is a point of a deal where you may have to walk away, but there is also a point where you close. Wed may be that time, we will see.