[ CITY PAPER ] STEAMROLLED!
by Isaiah Thompson
Let's say you want to build a stadium. Actually, let's say you want to make money, and you've decided that the way to do that is to own a soccer team. In order for that soccer team to make money, you need to build a stadium for it to play in.
And let's say you like making money more than spending it.
This was the conundrum that faced Keystone Sports and Entertainment LLC, a group of investors including iStar Financial CEO Jay Sugarman, developers Christopher and Robert Buccini and David Pollin of the Buccini/Pollin Group, and former Philadelphia School Reform Commission Chairman James Nevels — we'll call them The Team — who, in early 2007, began looking to build a soccer stadium, and to coax a Major League Soccer team to move in.
Of course, stadiums require land. But land is expensive, and it usually comes with other hassles, too: taxes, neighbors, community groups, politicos seeking a cut of the action. If only there were some piece of ground as cheap as the dirt it sits on, situated in a city that wouldn't tax the owners, where politicians would gladly make a sweetheart deal and neighbors weren't likely to raise much of a fuss — or, if they did, weren't likely to be listened to.
Welcome to Chester.
A once-booming industrial center just... [ READ MORE ]
Let's say you want to build a stadium. Actually, let's say you want to make money, and you've decided that the way to do that is to own a soccer team. In order for that soccer team to make money, you need to build a stadium for it to play in.
And let's say you like making money more than spending it.
This was the conundrum that faced Keystone Sports and Entertainment LLC, a group of investors including iStar Financial CEO Jay Sugarman, developers Christopher and Robert Buccini and David Pollin of the Buccini/Pollin Group, and former Philadelphia School Reform Commission Chairman James Nevels — we'll call them The Team — who, in early 2007, began looking to build a soccer stadium, and to coax a Major League Soccer team to move in.
Of course, stadiums require land. But land is expensive, and it usually comes with other hassles, too: taxes, neighbors, community groups, politicos seeking a cut of the action. If only there were some piece of ground as cheap as the dirt it sits on, situated in a city that wouldn't tax the owners, where politicians would gladly make a sweetheart deal and neighbors weren't likely to raise much of a fuss — or, if they did, weren't likely to be listened to.
Welcome to Chester.
A once-booming industrial center just... [ READ MORE ]
Add a Comment
About
Latest Activity
By MARK SCOLFORO and MARC LEVY - AP -
HARRISBURG, Pa. -Gov. Ed Rendell and legislative leaders reached a budget deal Friday to end Pennsylvania's distinction as the last state still fighting over its annual spending plan.
The $27.95 billion budg...
HARRISBURG, Pa. -Gov. Ed Rendell and legislative leaders reached a budget deal Friday to end Pennsylvania's distinction as the last state still fighting over its annual spending plan.
The $27.95 billion budget would raise tax rates on some busine...
by Isaiah Thompson
Let's say you want to build a stadium. Actually, let's say you want to make money, and you've decided that the way to do that is to own a soccer team. In order for that soccer team to make money, you need to build a stadium for...
by Isaiah Thompson
Let's say you want to build a stadium. Actually, let's say you want to make money, and you've decided that the way to do that is to own a soccer team. In order for that soccer team to make money, you need to build a stadium for...
Newly appointed Greenpeace Executive Director Phil Radford explains why his organization opposes the so-called American Clean Energy and Security Act (ACES) passed on Friday, June 26, 2009 by the HouseNewly appointed Greenpeace Executive Directo...
Newly appointed Greenpeace Executive Director Phil Radford explains why his organization opposes the so-called American Clean Energy and Security Act (ACES) passed on Friday, June 26, 2009 by the HouseNewly appointed Greenpeace Executive Directo...
Despite how many dirty problems there were with the supposed "green" energy bill various climate groups supported it in order to ensure that their personal programs and agendas were funded by the bill.
Is money enough reason to push for a dirty...
© 2009 Created by Energy Justice on Ning. Create a Ning Network!
You need to be a member of . to add comments!
Join this Ning Network