$275 Million Public Land Purchase Lesson For Developers
A California agency votes to spend $275 million to keep Ahmanson Ranch and Ballona Wetlands public.
"Though conflict over development and preservation of open space will continue, the long-running Ahmanson Ranch and Ballona Wetlands disputes have prompted some builders in the region to alter their tactics and deal with environmentalists rather than fight them... The lesson to developers from these deals, Fulton said, is 'talk tough and hold out as long as you can. Washington Mutual talked tough about the need to build houses until they saw they could sell quickly at a price they liked. Then all that talk about housing went away really fast.' "
Thanks to Chris Steins
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Published on Wednesday, October 1, 2003 in
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