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Secchia buys a building on Market...


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Secchia knows what a good investment is.

I read that entry yesterday and I'm not really sure it means anything, to be quite frank. Didn't Secchia own the Rowe Hotel before selling it to the Amway bunch? It's still sitting vacant. I'm not disparaging the guy because it's probably a good investment in the long run. I, however, don't think anything will come of it or the lot on Market & Fulton anytime soon.

Just my $.02.

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Secchia knows what a good investment is.

I read that entry yesterday and I'm not really sure it means anything, to be quite frank. Didn't Secchia own the Rowe Hotel before selling it to the Amway bunch? It's still sitting vacant. I'm not disparaging the guy because it's probably a good investment in the long run. I, however, don't think anything will come of it or the lot on Market & Fulton anytime soon.

Just my $.02.

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I think there is much more to this than meets the eye. I have heard rumours that Secchia and Wheeler are making a play to purchase much of the property that Faust had under option. I've also heard rumours that Faust is still trying to make his project work but has let many if not all of the options expire, which provided Secchia and Wheeler with the opportunity to purchase the properties.

What do the rest of you think? Is this a play to keep outsiders from developing here or do they have a plan in the works for this area?

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Unless Faust really had some major tenants lined up that still want to do something in GR, I don't see why anyone would want to take Faust's plan and go for it.

Do you really think local developers would ban together to keep an "outsider" out just to keep it local? I wouldn't think so. I would think there would have to be motivation to do so. And personally, I think River Grand was just a shell game.

Joe

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I have heard rumours that Secchia and Wheeler are making a play to purchase much of the property that Faust had under option. I've also heard rumours that Faust is still trying to make his project work but has let many if not all of the options expire, which provided Secchia and Wheeler with the opportunity to purchase the properties.
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