Please explain why Cordish would purposely not lease space and how that would be exploiting the city? Even at fully rented, the tax revenues would still fall short of the amount required to not need the city’s help.earthling wrote: ↑Sun Aug 04, 2019 10:54 amP&L is also essentially a public/private partnership. If it were 100% private there'd more likely be a different angle to discussing P&L issues/challenges, like Plaza discussions. Cordish reps seem to imply public opinion gets in the way rather than collaborating.
If a site on Plaza didn't lease for 10+ years, unless TIF involved the conversation would be very different than a site that is operated by a private company that was partly built by public funds. Something is very suspect about the spaces that have *never* been leased since opening over 12 years, especially given these spaces are near among highest foot traffic in city now. Smells like exploiting the City aid to me as FangKC spelled out.
I guess I’m not understanding what you’re implying or how Cordish would experience anything positive by not leasing a space. Perhaps this is a larger play to wait on additional space to open up that they could combine to make room for a downtown target for example. The only reason you keep your prices where they are and hold out for the right tenant is planning for the future. Cordish has been leasing commercial real estate for nearly a decade. Can’t imagine they haven’t dealt with about every scenario.
Another item to consider about the 14th/main space is the additional build out cost considerably it’s still dirt floors and bare bones.