Your argument is very shallow. Stating that Durham has "ample shopping opportunities" is almost a joke. STOP ALL DEVELOPMENT IN DURHAM BECAUDE WE HAVE ENOUGH TO CHOOSE FROM? Are you nuts? Putting a school in KH is also ridiculous. Please show me ONE school anywhere that exists as part of the natural boundary of a MALL the size of Southpoint. That's a good one.... You would have to TAKE KH by eminent domain because the residents of KH would have to be forcefully removed before they would settle for the $ a school would bring. Try again.... The only way this deal will happen is if a "big box" type retailer is interested in the area. No way any other development will provide the owners of KH enough of a payout that won't make it look like they were royally TAKEN by DURHAM and the surrounding development!
I agree that asking if we want a Wal-Mart is a valid question. I believe it will be successful Wal-Mart. I know Wal-Mart thinks it would be. Those who feel Wal-Mart would destroy other business in the area can argue that until their blue in the face and will gain nothing. Its called competition. Its not like this area is full of mom and pop stores that have been in business for 20 years. This area has been designated commercial and is a highly successful area. You cant just look at the financial number TODAY. It could take 2 years before it would open. Please show me a MAJOR mall anywhere that hasn't developed all the natural surrounding boundaries around it. This is valuable land. Wal-Mart has every right to compete for business in this area. If you hate Wal-Mart you can attack them for how they choose to do business with companies they represent or how they negotiate prices, not that they don't deserve the right to build in an area they feel is desirable. As a profitable company, they have every right to compete and build stores where they feel will be most profitable. It will be part of the debate I'm sure.
The argument that there should not be a Wal-Mart developed because there is a Target down the road is ignorant. So, Wendys, Burger King and such shouldn't build in an area because McDonalds in already there? Costco should not build because there is another bulk wholesale store close? I'm guessing you are not employed in any type of retail business at any level and have not gone to business school....
I'll let the IRS and the state tax people make the determination about Faust. She has the right to claim whatever kind of status she wants but that does not make it legal. The real untold facts about Faust are more interesting. Before the offer from WRS came in there was an offer from the owners of the SOUTHPOINT mall next door to Kentington Heights. In fact it came in more then ONE YEAR AGO and was for a few MILLION more. The reason Faust is not "getting my hopes up"? Pretty much all the owners of Kentington Heights had agreed to sell at a price equal to all others based on how much land they had and property on the land. In the end, there were less then a few that had not signed. Of the people that had not signed up, a couple were due to contractual issues that could have been resolved. FAUST WAS THE MAIN REASON THIS DEAL NEVER CAME TO FRUITION! She wanted SEVERAL times more then all the other owners and refused to work with General Growth. She knows WRS will not pay her the MILLIONS she feels are due her. Somewhere I've heard the saying by their fruits, you will know them. It seems obvious what type of motivation FAUST has. GREED! GREED! GREED! Let there be no doubt, she has every right as a property owner to be greedy but CALL IT AS IT IS! People, please drive thru this neighborhood. Understand that 99% of the development will agree with you that it's probably ONE owner who has been standing in the way of this development finally being given a chance to proceed. With WRS not requiring all the lots to move forward and be successful, the only group that will stand in the way is the City or County Govt. of Durham by not allowing WRS a chance without ALL the owners signed.
Indy Week • 302 E. Pettigrew St., Suite 300, Durham, NC 27701 • phone 919-286-1972 • fax 919-286-4274
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