Look at who opposes the project because of potential water contamination concerns.
Look at who is fighting the project (owner of Phoenix Suns NBA team is just one partner along with a multi $billion New York/Brazilian real estate developer) who have a team of lawyers and massive $$$$ resources due to their own extensive international real estate interests.
It is a bummer but It is a reality, an exceptionally strong adversary stands in the way
2 two exceptionally powerful adversaries:
Do these business interests have some political pull with Federal politicians like senators and representatives with the potential to delay/influence EPA action? who knows ? How does politics work?
face it .....deal with it and move on
Run the project numbers with the realistic additional expenses necessary to `with certainty' buy out the adversary...then if economic... should be Build the project with ithe additional expenses factored in.
Project has very strong economic. strong copper project but until this situation is dealt with ??
get the Real estate interests to `go away"
https://www.bizjournals.com/phoenix/stories/2010/04/05/daily56.html?page=all
San Diego-based Southwest Value Partners and Golden Tree Insite Partners of New York and Sao Paulo, Brazil, are buying a 4,508-acre parcel at Merrill Ranch in Pinal County. The property had been taken back in 2009 by a group of 62 lenders after the owner, Merrill Ranch Investments LLC of Scottsdale and Atlanta, defaulted on a $100 million loan.
The buyers did not disclose the purchase price, but local trade publication, Business Real Estate Weekly, wrote that the purchase price was nearly $27.7 million.
SVP is jointly owned by Phoenix Suns majority owner Robert Sarver and Mark Schlossberg. Sarver is also chairman and CEO of Western Alliance Bancorp. SVP provided 30 percent of the funding and will manage day-to-day operations of the partnership with GTIS Partners, which invested 70 percent of the equity capital.
The purchase is the second associated with the foreclosure. The Phoenix Business Journal wrote about marketing of the property in June 2009, when Bull Realty of Atlanta was retained by People’s Bank of Winder, Ga., the lead lender, to seek offers on the land.
Bull Realty announced in January that it had obtained a buyer for 1,182 acres of the total 5,690-acre parcel. The undisclosed buyer of the first parcel paid a little over $8 million.
On its Web site, Bull Realty says both purchases added up to $36 million, or $7 million more than the bank consortium paid at the foreclosure auction to take back the property.
The SVP/GTIS news release states that the parcel is “partially entitled for up to 18,000 residential lots and an additional 900 acres are fully entitled for commercial use.” The land is located on both sides of the Hunt Highway west of Florence.
The partnership will hold onto the land until new home building gains traction again.
“As the Phoenix population and employment growth continues to stabilize, the residential lot market should return to equilibrium in the next several years,” Schlossberg said in the news release.
https://www.gtispartners.com/usinvestments
About Us
GTIS Partners is a global real estate investment firm headquartered in New York with offices in Los Angeles, San Francisco and São Paulo, Brazil. GTIS Partners was founded in 2005 and is managed by President Tom Shapiro and Senior Managing Directors Josh Pristaw, Rob Vahradian, Bill Cisneros and Joao Teixeira.
GTIS Partners has 65 employees and currently has approximately $2.8 billion of assets under management. The firm pursues opportunistic real estate investments through direct equity investment and non-traditional lending activities. To date, the firm has committed capital to residential, retail, industrial, office, hotel and mixed-use projects in the U.S. and Brazil, and is among the largest real estate private equity companies in Brazil.
The principals of GTIS Partners have over 100 years of investment, management and operations experience, which spans all major property types and geographies. By combining hands-on real estate expertise with a disciplined investment approach, GTIS Partners creates value for its investors and partners.