More Contempt for Med Mart's Parent Company

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Last week we detailed how Vornado Realty Trust has left cities around the country cursing at holes in the ground where multimillion-dollar developments should be [“Vornado’s Path”].

The bad news for us: Vornado is the parent company of MMPI, the developer behind Cleveland’s $465 million Med Mart and convention center, which recently launched its hole-in-the-ground phase en route to a 2013 opening.

In Boston, Vornado leveled a downtown department store to build a 39-story complex three years ago, then decided it was no longer economically advantageous to follow through with the plans. No charge for the hole in the ground though.

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