Monday, January 14, 2008

Houston Dynamo stadium land worth $20m

If the Houston Dynamo stadium plan goes through as currently planned, the city of Houston might end up paying as much as $20 million to acquire the land.

The appraised value of the six blocks that will house the stadium and other relevant facilities is just $5.1 million, however the owners of the property think that is undervalued since it is a 'hot' site for development. Go figure, people that own something that someone else what think they should get more money for it.

Overall, this article points again to the fact that the city is very interested in keeping the Dynamo within the downtown area. The fact that they are willing to invest $5-20 million to get the land shows where they stand. Now it is up to AEG or whatever ownership group is going to purchase the club (if they are close to finishing that deal), to put up on their side. The whole reason the team went to Houston was to get a stadium and it looks like the city is committed to making it happen.

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2 Comments:

Blogger Allen said...

Another way of looking at it is that it should be no surprise that the city is looking to swoop in and take the land on the cheap.

10:45 PM  
Anonymous Anonymous said...

^^ nice blog!! ^@^

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9:09 PM  

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