Think about this for second: today we learn Gary Cotton is auctioning off all of his holdings, including some incredibly prime undeveloped land along the canal.
The Brewer family, has had a large amount of their holdings up for sale for more than a year. Ditto for Bob Meinder’s properties along the east fringe of Bricktown (the old Stewart Metal plant). French Hickman has been trying to sell his properties for more than a year, and he’s telling me now he’s taking them off the market until spring (he thinks interest might go up “as people realize the value of the NBA”).
That’s a lot of land for sale and the asking prices, well, some observers say the price is WAY TOO HIGH. We’ve seen a lot of flipping going on in Bricktown. Could Bricktown benefit from a bankruptcy or two to bring property costs back to earth and make development more feasible?
Now here’s a fun tidbit to chew on – sources tell me discussions are underway in regards to renewing the Business Improvement District that include the prospect of charging a higher assessment for empty, unimproved properties.
Sit back and ponder that possibility for a moment, and then let the comments fly.