Over the years I have often used the term "It takes action to get action". I continue to see potential real estate deals that don't happen mainly because of people waiting on other people to take action. Those that take charge often take home a bigger percentage because they position themselves into a larger role.
The below linked story about a municipality starting a lawsuit over the lack of promised development of a significant commercial property is a great example of spurring action to be taken, even though it took two years to get it done. Clarksville IN, across the Ohio River from Louisville, filed a lawsuit against a developer while seeing two possible results. One possibility was taking over the property before it needed to be demolished, while the other was to get the developer to finally get going. It was the latter which seems to have happened.
As a result, the municipality will eventually get the financial advantages of a large new development, the current owner gets the benefit of avoiding a costly lawsuit and pulling money from their investment, and the new owner has a clear path toward a significant new project. Prior to this "conclusion", the municipality and the owner were facing nothing but lost revenue.
This is not to say that filing lawsuits will help you to get deals done. The takeaway here is what can happen when action is taken (ideally not through the courts) to leverage a deal to happen and benefit those involved. Of course, the new owner had the research to show the viability of investing in their upcoming multi-million dollar project. It is likely a project they got a good deal on since it was sitting for years untapped.
It's possible that a few years from now developers will wonder how they got that project done. The current owner will be reaping the benefits from being "first in" on the project.
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