If the lease could have been terminated, they would have had a clearer shot at acquiring developments rights for a new Coliseum complex and would have also been able to keep all the revenue from concessions, parking and advertising.
Most people seem to agree that the midblocks on the cross streets need to be rezoned differently from the avenues so developers cannot acquire development rights again.
"It's an exploration to acquire development rights.
MR. KOTICK and Mr. Kelly moved the company to Santa Monica, Calif., and aggressively acquired development studios.
The group, the Nature Conservancy, would like to buy about 172,000 acres or acquire development rights or conservation easements on the land.
A firm that possesses significant capital and/or technical strengths can acquire development, operations improvement, and enhanced recovery opportunities from companies that are unable to fully exploit them.
AvalonBay President Timothy Naughton told investors in a conference call recently that the company would acquire development sites, redevelop under-performing properties and even purchase existing communities, if it can do so at clearance prices.
By acquiring unused development rights from adjacent properties for about $2.5 million, Dr. Axel Stawski, a partner in Kipp-Stawski, said the company was able to add a floor, the 27th, to the building.
"We essentially are acquiring a development team," explained a panelist.
The international private companies that acquire development contracts and operate outside the realms of transparency and beneficiary accountability are also a large part of the problem.
