Quote:
Originally Posted by curves2000
Exactly this! I grew up in the area and I know it quite well. This appears to be a really big development for the size of the land but then again I am not an expert in it.
Why is this land only being sold to Rio Can? Why would prime development land only be sold to this one developer when there SHOULD be a bidding war for this type of development.
You see large sums of land in Calgary and elsewhere that seems to be sold to developers for what appears to be, below market value considering the profits.
The golf course on Richmond Road, the Vicount Bennett school, new development overlooking downtown and next to Shaganappi golf course.
All this land that is ripe for development but very little in the way of value being brought back to taxpayers for it's sale.
I think the answer to this is that the proper people were given their cash envelopes and bribes for this development and more. Absolutely no way that more large scale bids would not have been interested in this project.
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Because RioCan owns Glenmore Landing.