Prospect'n
You can pretty much assume that if someone is a developer, he's a dirtbag. That's not to say that there aren't some good ones out there, but the vast majority are looking to get rich by dumping crap on our neighborhoods. As wretched as the developer's inferno is, however, the deepest ring is reserved for the speculator. The speculator is a creature that drains money out of a neighborhood with no intention of ever putting anything back in. It sits on key property for years--sometimes decades--hoping for a higher price, while the neighborhood is left to suffer vacant lots or boarded buildings long after redevelopment would have become viable.
I mention this because of an article I came across from the Buisness Journal of Milwaukee which reports that the Chicago-based CMC Heartland Partners has been making promises to the City of Milwaukee for years so it could continue to buy low and sell high on properties around the city, driving up their eventual development costs. The excuse CMC gave for the failed projects is that the City of Milwaukee is too difficult to work with (their submitted projects failed to get approval because they violated city zoning), yet the eventual buyer of most of their properties ended up being state and local government agencies. Some were bought by the city itself.
[Jan 18, 2006] | [cities] | # | G
