People continue to talk about this downtown conversion project, and the chatter is healthy and necessary, though I think people don't realize a few things: 1) I don't make a commission on this at all. My role, like that of Horatio Isadore, is as a faciliator, a motivator, an enthusiast, and a deal-maker. In fact, my mother and I are investors; we can either lose a lot of money or make a little bit of money... but that money is NOT commission-based. 2) The details of this conversion are different than past project ideas for this building. 3) Mr. Silver is not involved in this project, though his wisdom and experience are continuously helpful. 4) The project, even at its potentially most profitable, will not yield a gigantic return on investment. The people who want to invest are individuals who understand the intangible and long-term benefits of the revitalization effort. 5) We can already secure a group of investors, but if the political manuevering surrounding this project is too discouraging, we'll probably look to something else in another market. Some people seem to believe that this building is SO important, but they don't realize two things: 1) People with enough money to seriously invest in this project are always entertaining investment opportunities, and this building is just one item on their desk. 2) The best numbers on conversion are just average. If you're serious about this investment, you're not in it just because you want to make money; you're in because you believe in the future of Alexandria. Period.

This entry was posted by Blogger, on Tuesday, March 14, 2006.