The article fails to mention the incredible subsidy Trader Joe's was given to build at this location: they would pay only $500k for a $2.9 million lot.
That lot is only worth 2.9 million if someone where willing to pay $2.9 million. I bet the value of that lot just dropped dramatically after this situation. Who would buy that lot knowing that you really can't employ it for it's highest and best use? No one wants to pay $2.9 million for a lot just to build some nail salons, a barber and a dollar store.
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The article fails to mention the incredible subsidy Trader Joe's was given to build at this location: they would pay only $500k for a $2.9 million lot.
That lot is only worth 2.9 million if someone where willing to pay $2.9 million. I bet the value of that lot just dropped dramatically after this situation. Who would buy that lot knowing that you really can't employ it for it's highest and best use? No one wants to pay $2.9 million for a lot just to build some nail salons, a barber and a dollar store.