Vog, Saffo just said the developer wants $12 million for the property. Now, that's probably his "starting price", but I've heard he has no intention of selling it for half that.
You also need to make up a very big number to cover site clean up. Almont Shipping sat on that site for years, and Almont used the site to store bulk chemicals and fertilizers. Before that, I understand there was some other environmentally un-friendly business there. Bottom line, that site is going to be contaminated and they're going to have to clean it up before they can build on it. Site remediation is PRICEY, as in possibly MILLIONS. That's why all that property sits unused and unwanted along the river. The price to clean it up makes it unattractive to investors but Uncle Bill doesn't care about that, armed with taxpayers' money.
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