South Florida's Housing Crisis Leaves Behind Ghost Towers

[Slimprofits]

Re: South Florida's Housing Crisis Leaves Behind Ghost Towers

Today's budget cuts are just the tip of the iceberg.

Reports in the Florida papers this week set some people ablaze when they cited the county's actual cost of the Marlins new ballpark, proposed to open on the former site of the Orange Bowl in 2012: $2.4 billion.

That's a good deal higher than the numbers we hear bandied about regarding stadium costs, but that $2.4 billion is what Miami-Dade County will actually repay for $409 million worth of bonds taken out to build the new retractable-roof park.

Part of the reason for the huge number is increased interest rates, but another is the county's choice to spread the repayment across 40 years, putting a significant amount off and letting interest compound many times over.

http://www.southcoasttoday.com/apps/...0353/-1/SPORTS

[Wild Style]

Re: South Florida's Housing Crisis Leaves Behind Ghost Towers

Today's budget cuts are just the tip of the iceberg.

The joke about that is, there was a guy who owned about 13 acres downtown Miami. He told the city and the owner of the Marlins he would build a stadium on the land free of charge in exchange they would lease the stadium from him. They would have the option to purchase the stadium from him later on if they wanted at the cost it took him to build the darn thing.

They have mass transit downtown Miami too so it would have gotten people out of their cars. The increased foot traffic would have helped a lot of the mom and pop shops downtown too. But nope, it had to be in Little Havana where parking and traffic is going to be a absolute nightmare and the city will now be on the hook for billions of dollars.