Mendo Island Journal — Timely. Useful. Sometimes Cranky.

Dead Monster Mall: DDR CEO “Mothballs” New Development (video)

In Vote No on Measure A on October 22, 2009 at 9:10 am

[Belly up, sucker. It's all over but the shoutin'. -DS]

From DDR
Somewhere in Ohio

Diversified Developers Realty CEO Scott Wolstein “Mothballs” New Development for Better Investments.

“Development is a problem… Access to capital to finance development is very problematic. But even if the capital were available, the yields today are not sufficient to justify investment.

“So we’re finishing up what we are committed to and everything else we’ve mothballed for now. It isn’t worth it to us to devote new capital to build a project that might return 7 or 8 percent…”

Measure A organizers and supporters fooled and betrayed…

Thank you for voting NO ON MEASURE A MONSTER MALL, and for preserving our unique, locally-owned businesses, neighborly small town values, and livable human-scale communities.

Go to video here
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  1. As predicted. What a bozo.

    Let’s not be completely stupid and give him a zoning upgrade on the way out. Vote NO.

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