03-12-2015, 03:51 AM
(03-11-2015, 11:40 AM)nms Wrote: I expect that that ship has sailed. The value of the land has likely gone up since the City swapped the land. The only way that the City would end up with the land would be if there were back-taxes and fees owed that were greater than the value of the land itself. I expect that you'll see the land sold to another developer and the proceeds used to pay off the various creditors including the City.
But the value of the Iron Horse Trail alignment itself is only there if a development is integrated with 144 Park. If it's a brand new unrelated development, then it might as well swap the land back to the city or otherwise rethink the alignment.