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Will Duane Faust's vision become a reality?

GRDadof3

By GRDadof3
in Grand Rapids

Will Duane Faust be able to pull through on his "vision"?  

107 members have voted

  1. 1. Will Duane Faust's vision for the 41 acres become a reality?

    • Yes
      25
    • No
      48
    • Maybe
      34

  2. 2. Are there other "hard financiers" waiting to come foward?

    • Yes
      48
    • No
      30
    • Not sure
      29

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Trixie Unincorporated Area

Trixie

Posted
Posted

I voted no on both - sorry. I don't think this is going to happen. I think something will happen there, but not with this developer.

Maybe next time TV8 will put a "sock in it" and let the plans unfold naturally without them stalking ever person involved.

Trixie

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Yankee Fan Hamlet

Yankee Fan

Posted
Posted

Call me an optimist, but with some of the names involved other than Faust (i.e. the attorney from Atlanta) I believe that there is more going on than what we know.

For starters, I am convinced that they were not ready to talk about the project, yet. Because of that, it was an easy choice to put Faust in front to take some of the media pressure off because he was identified. The argument can be made that he was a bad choice for this because of his history. However, when you think about the need to deflect attention from the project, his background alone has caused a significant number of people to lose interest. Not the way that I would do it, but then it is not my project.

Second, and correct me if I am wrong, I don't think that they have bought any property, yet. Yes, they have purchase agreements and confidentiality agreements. But, since Faust does not have the cash to buy these properties and they want everything to be signed under the GR Development Corp. front, it would seem to me that this Minkin guy is also a front for some other people not yet identified. In fact, my personal opinion is that Faust probably does not know who half of the investors are; he just knows what Minkin has told him: that the process is in motion and that this project will happen. And since Minkin has the reputation that you would need to pull this together, I think that he is putting Faust out front for the time being. I will be curious to see their response to the city RFP.

Finally, in a deal of this magnitude, the media is not going to derail it. If there is an opportunity to make money and create a successful project, the most important piece to the puzzle is to take your time to create the plan. I believe that we are in the "buying ourselves some time" phase of this project. Patience is the virtue that we all need to have. I still believe that this project is going to happen. I am still hopeful that it will not disappoint us.

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MetropolitanSA Crossroads

MetropolitanSA

Posted
Posted
Call me an optimist, but with some of the names involved other than Faust (i.e. the attorney from Atlanta) I believe that there is more going on than what we know.
I tend to agree with this. In addition to Minkin, "prominent entertainment attorney" Joel Katz says "My group will still pursue the entertainment piece of the development which we consider to be quite relevant and important to the overall development". So there's two big names behind the project, probably many more...
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GRDadof3 Ecumenopolis

GRDadof3

Posted
  • Author
Posted

And YankeeFan, don't forget that another attorney has been identified as being involved in the project, from Minkin's old firm, Joel Katz:

http://www.woodtv.com/Global/story.asp?S=4721218

Faust's financial problems could be stemming from him pouring all his own money into this (attorney's fees, meetings, travels, etc.).

I'm an optimist and a realist, but I won't tell you how I voted :whistling:

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GaryP Burg

GaryP

Posted
Posted

Faust's financial problems could be stemming from him pouring all his own money into this (attorney's fees, meetings, travels, etc.).

I was also wondering if this project was the reason for his financial problems. Good luck to the guy, but it still seems like an up hill battle to me. I feel pretty bad for him actually after lining ML's pockets.

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civitas Burg

civitas

Posted
Posted

And YankeeFan, don't forget that another attorney has been identified as being involved in the project, from Minkin's old firm, Joel Katz:

http://www.woodtv.com/Global/story.asp?S=4721218

Faust's financial problems could be stemming from him pouring all his own money into this (attorney's fees, meetings, travels, etc.).

I'm an optimist and a realist, but I won't tell you how I voted :whistling:

I agree. The more we learn about the names involved the more real it becomes.

I'll tell you how I voted. I don't believe the Faust plan will happen (but I do believe others might take the project over and adapt it to their needs). Regarding the big money, I voted "maybe" because the real money will come if and when the project it justified by the marketplace. Investors are always interested in the good projects.

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GoBroncos Unincorporated Area

GoBroncos

Posted
Posted

On monday Wood TV report the following "Approximately 85-percent of all the private land has been secured."

Does securing 85% mean they have purchased the land or they have purchase agreements in place???

Second, and correct me if I am wrong, I don't think that they have bought any property, yet. Yes, they have purchase agreements and confidentiality agreements. But, since Faust does not have the cash to buy these properties and they want everything to be signed under the GR Development Corp. front, it would seem to me that this Minkin guy is also a front for some other people not yet identified. In fact, my personal opinion is that Faust probably does not know who half of the investors are; he just knows what Minkin has told him: that the process is in motion and that this project will happen. And since Minkin has the reputation that you would need to pull this together, I think that he is putting Faust out front for the time being. I will be curious to see their response to the city RFP.
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francishsu Hamlet

francishsu

Posted
Posted

On monday Wood TV report the following "Approximately 85-percent of all the private land has been secured."

Does securing 85% mean they have purchased the land or they have purchase agreements in place???

Don't know, but 85% is an interesting number because I'm not seeing how you can get to 85% unless Custer or ML has come to an agreement to sell.

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