The owners have a net worth of well over $5 billion. If they can't make a business case for building this, why should the public? If they don't think they will make money, how is it good for the public? I understand the "well, we had to ask", but in the end I'm sure they can make the economics work and come out ahead with their own money.
At most, the city should give them the land on the condition they clean it all up. The city will fix the road disaster, that's going to cost $1 billion on its own.
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