Millennium Developments, Let’s Make a Deal!
December 12th, 2008Looks like building is not the only thing Millennium is good at. Making deals with politicians and cities seems to be something that comes easy for them.
Of course I am not acutely aware of the dealings that brought about these deals, so all I can really do is point out the fact that they seem to get the upper hand when other develops don’t. Again this is what appears to be, I don’t know what other deals have been made with other developers, but I am sure there have been.
In a recent blog post it is revealed that Millennium has been holding up progress on a hotel project they were to have built in Nanaimo beside the new Convention Centre. Not only they they were sold the land for basically nothing and given other land for free because they determined that the project was not viable and the city needed to make concessions in order to ensure that it was built. Even so it appears that it is still not underway and deadlines have come and gone. Now with times being tough it may not be possible to find another developer to pick up the pieces. Why is it that Millennium seems to get themselves in positions that make it almost impossible for cities not to give into them, hardly seems fair but maybe it is just smart business practice by Millennium. They have secured projects and then passed off risk.
You can read more about this at nanaimo-info-blog.com
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