The developers at K&D are well on their way to earning back the $35 mill they dropped on this asbestos-filled beauty.
Earlier this month, when the K&D Group submitted the one and only bid to buy the county’s doomed Ameritrust complex, we knew there had to be a hidden motive. What developer in his right mind would pay $35 million for a complex the county bought two years earlier for $22 million? Especially when it was negotiating with the county, which handles money like a senile widower?
The asbestos-filled buildings have been vacant for years, and no one seemed interested in buying them until the county commissioners wasted more than $34 million trying to turn them into new headquarters (“Lose Excess Wallet Weight!” December 12, 2007). …
This article appears in Jan 30 – Feb 5, 2008.