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Message: [QUOTE="huskymedic, post: 3281339, member: 549"] [SIZE=4][URL='https://www.courant.com/business/hc-biz-xl-center-northland-space-20190925-enyrmipdifawddvepymjwawy6m-story.html']Northland Investment Corp. rejection of latest state offer to buy space outside of Hartford’s XL Center will likely resurrect tensions over eminent domain[/URL] or ([/SIZE][URL='https://outline.com/JsywHr'][SIZE=4]here for the access challenged[/SIZE][/URL][SIZE=4])[/SIZE] >>In a Sept. 6 letter obtained by The Courant, Northland Investment Corp. criticized the $4.5 million offer by the Capital Region Development Authority as another in a series of “low ball” offers for the property, known as the “Trumbull Block.” The block runs north along Trumbull Street from the driveway of the Hartford 21 apartment tower to Church Street. “The appraisals average $4.5 million for the forecourt of a major arena, its street side retail and its entrance, a value that represents less than 10 percent of actual construction,” Northland chief executive Lawrence R. Gottesdiener wrote in the letter. “These actions assure us that CRDA is acting in bad faith in its dealings with Northland.” << >>Northland, once one of the largest commercial landlords downtown, developed the Hartford 21 tower and complex, which wraps around the arena. For several years, CRDA has been in talks with Northland to acquire the space, needed to redevelop and modernize the 44-year-old sports arena.The negotiations turned contentious in 2018 when CRDA threatened to use eminent domain to acquire the space, but subsequently backed off, resuming talks with Northland. This latest development is likely to again raise the prospect of eminent domain.<< [/QUOTE]

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