In this week's Riverfront Times, Kathleen McLaughlin has a story on the impact of Paul McKee's plans for the near north side on its residents and on other developers. In particular, McLaughlin turns up some interesting tales of McKee's purchase methods and how people feel about selling.
Read it here: "Arrested Development"
Thursday, August 30, 2007
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3 comments:
I read that story this morning. There was one man quoted in the article who thought McKee's purchase was like a gift.
He said he bought the property for $2,000, and resold it to McKee for around $70,000.
How much of tonight's meeting will be focused on McKee's acquisition methods versus future development of the area?
No, he said that the woman he bought the house from was his former teacher who allowed him to buy it at $2000 like a gift. I am not saying $71K was not a fair price, but the initial price of $2000 was not a true market price.
In fairness, quotes don't necessarily reflect words said consecutively. I think the quotation could reasonably be read to reflect both of your interpretations.
Thomas
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