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MJLO

By MJLO
in Grand Rapids

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GRDadof3 Ecumenopolis

GRDadof3

Posted
Posted

The Grand Rapids Press has done that:

http://www.mlive.com/news/grpress/index.ss...ll=6&thispage=1

(read all four pages)

"Duane Faust is the individual who is creating the opportunity, the stage, for the true performers to perform. It's in all of our best interests to see that happen. To taint it with anything, it takes away a good thing for a lot of people," he said.

"Asked to characterize his role in the project, Faust likened himself to Detroit Pistons basketball President Joe Dumars."

"I'm the guy who gets Ben Wallace, who gets Chauncey Billups, Rasheed Wallace and allows them to do what they do. I'm the orchestrator in terms of assembling the team."

The team he's trying to put together includes financial backers and possible tenants, he said.

Pretty interesting. Reflects many of the questions, and even terminology, that we've been asking here.

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Phizzy Hamlet

Phizzy

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I think he's saying, where are the "big players" behind this. A team vs. B team.

Perhaps one member of the "A" team is Jim Jacoby, an Atlanta-based urban developer. He is President of Atlantic Station, LLC (previously mentioned here and in news reports regarding "RiverGrand"), which his company, Jacoby Development (JDI) developed. From his bio it says...

For years, dreamers imagined what they would do with the Atlantic Steel site in Midtown Atlanta, given the opportunity. More than a few developers took a run at it. But it was not until Jim Jacoby – with a dash of environmental insight and a huge dose of guts – rolled the dice, that the dream of restoring this industrial site to its highest and best use for the community would begin to be realized.

Sort of sounds like the Market/Wealthy area, huh?

JDI is also developing, along with Centex (the registrar of the "RiverGrand" trademark also previously mentioned here), Marineland, a "47-acre historic aquatic park that is being transformed into an eco-resort". More connections?

JDI also appears to be very environmentally conscious. Could they have been attracted to the "green" Grand Rapids?

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GRguy Hamlet

GRguy

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I lived in Atlanta for many years and the steel mill site of Atlantic Station was a real eye sore. I was very excited about the new development and left town before it opened. I was down there visiting and it is nice, but has a manufactured feel. The condos essentially sold themselves, most before they were built, due to all the hype. The retail is good, but there is nothing there that will put GR "on the map". A boat dock for the Grand River will not do that either. It would be great to have some of these features here, but we still do not know the missing link. Where are the people and the jobs coming from? What is the core here? If it is simply to build retail and condos, I don't see it working. We don't have the critical mass to keep that AND a downtown alive.

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Rizzo City

Rizzo

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If we did have a market for this sort of development the market would have been taped already? And if this land that is being sold by the City is truly prime then we would see even more concepts being worked on by many developers.

What I'm getting at is this 10,000 jobs number is probably accurate, but I bet a huge portion of thoes jobs deal with a move by a corporation or company HQ'in in GR. I think this development is basicly there to keep the new people moving in happy.

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Rizzo City

Rizzo

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The Wharf has a quite a bit of a banking. This would explain the need for some friggin highrises.

AS much as I like for Metro GR to be diserving, I think basicly any city could have this just we got lucky, we had that local guy beating the developer about GR.

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Phizzy Hamlet

Phizzy

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well do we know if there is a corporate presence, or headquarters at any of the aformentioned examples.

Canary Wharf, according to wikipedia, is home to "Credit Suisse, HSBC, Citigroup, Lehman Brothers, Morgan Stanley, Bank of America, and Barclays, as well as major news media firms, including The Telegraph, The Independent, Reuters, and the Daily Mirror".

Atlantic Station is home to Wachovia's regional headquarters.

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MJLO City

MJLO

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ok, that softens it up a bit. I'm going to play sit and wait now, see what's headed our way, If anything, I revert back to an earlier comment I made. I really hope this guys is not planning on building a big huge empty office park with no tennants.

I'm counting on that being the piece we find out after everythings official

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GRDadof3 Ecumenopolis

GRDadof3

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I'm with you MJLO.

1. If we had seen the "total package" already, people would stop referencing the confidentiality agreement. They'd just say "You have the report, that's basically it", or "You've spoken with Duane, that's it". That's not what is happening. My belief is the confidentiality agreement covers unseen entities or plans. There is much we haven't been allowed to see yet.

2. Faust has been pretty open about his plans so far, and not fallen into "no comment" mode after the draft report came out. He has been forthright, and continues to be positive. I'm sure he has been versed by the PR firm as to what he should and should not disclose to the Geha.

3. They haven't asked the city (or any of us) for anything yet. I'm withholding judgement until then. Whichever way the city land deal is structured, there will have to be some guarantees from ANY of the potential developers, due to the shear size and impact of the project. Show me the money!

4. Ummm, lost my train of thought :blush:

edit: to test my theory, just ask anyone covered by the confidentiality agreement what the mystery development is, and see what they say. :whistling:

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Rizzo City

Rizzo

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Exactly what I said before. The plan that was shown to Eric, Langlois, etc... must have included a contact list to verify who is really behind this. When Langlois, Eric and others saw that list of who's behind this and verified it, they droped the phone and said, "holy s*** I just wanna scream bloody murder."

I saw the agreement, and according to a lawyer its pretty "average," which is intersting. I think a forumer here and there has the legal board membership, maybe provide insight to this agreement that London was made to sign?

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Phizzy Hamlet

Phizzy

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I saw the agreement, and according to a lawyer its pretty "average," which is intersting. I think a forumer here and there has the legal board membership, maybe provide insight to this agreement that London was made to sign?

"Average"? You mean, like, "typical" or "normal"?

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terra firma Whistle-Stop

terra firma

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The plan that was shown to Eric, Langlois, etc... must have included a contact list to verify who is really behind this. When Langlois, Eric and others saw that list of who's behind this and verified it,

Yep, we have had some very beliveable info which was researchable and that was done. They did not tell us everything, but most of it. I think the only question is how committed those names were; I had no way to verify that. We operated on the merits of the brokers involved, both highly qualified. Bill is arguably the most noteworthy and trusted broker in this community and has been for a couple decades.

This Duane Faust thing... that name was not presented to us but if it had been we would have researched it and there would be apartments in our buildings by now.

We've waited a long time, but we won't have to wait much longer. Either a big announcement gets made with some qualifiers on it or this things is dead and gone real fast. I will never understand why all the drama and secrecy around this.

My buildings are back on the market; plan 'B' mode... not that I won't accept an option fee if they show up with one !

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Rizzo City

Rizzo

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Don't look at me, I stoped speculating 5 minutes ago, :wink: (yah right) I'm just trying to work out the situation.

I would guess it could be a big player in each of the business sectors Faust mentioned in that interview. A bank, an entertainment conglomo, other big names maybe?

I can't wait for any word, I have to have my crack now.

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GRGyp Whistle-Stop

GRGyp

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1. If we had seen the "total package" already, people would stop referencing the confidentiality agreement. They'd just say "You have the report, that's basically it", or "You've spoken with Duane, that's it". That's not what is happening. My belief is the confidentiality agreement covers unseen entities or plans. There is much we haven't been allowed to see yet.

I also think Mr Faust's interview where he likened himself to Joe Dumars indicates this as well.

He's not the glitz and high profile player here. He's the GM, the center of wheel that the deals are revolving around, but he is not the person(s) that's going to step out front when this deal comes fully to the light.

To continue along that analogy, everyone knows Dumars is extremely important to the Pistons, but people pay the money to see Ben Wallace and Company, not Joe Dumars, when its all said and done. So I took it to mean that he was indicating that he's important as Mr "X" in Project "X", but in the end there is a Mr/Ms "A", "B", and "C" that would certainly be taking over the spotlight once the plan was fully in place.

Nothing to do but wait and see...

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Rizzo City

Rizzo

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I also think Mr Faust's interview where he likened himself to Joe Dumars indicates this as well.

He's not the glitz and high profile player here. He's the GM, the center of wheel that the deals are revolving around, but he is not the person(s) that's going to step out front when this deal comes fully to the light.

To continue along that analogy, everyone knows Dumars is extremely important to the Pistons, but people pay the money to see Ben Wallace and Company, not Joe Dumars, when its all said and done. So I took it to mean that he was indicating that he's important as Mr "X" in Project "X", but in the end there is a Mr/Ms "A", "B", and "C" that would certainly be taking over the spotlight once the plan was fully in place.

Nothing to do but wait and see...

If that is true, then Faust is a VERY persuasive man.

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