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The deal enraged sup porters, who had been told that the club intended to redevelop the ground as a 28,000 all-seat stadium.
Poko, which paid $8 million for the Pitkin in 2008 — a higher price than it would command in today's market, Mr. Olson said — initially intended to redevelop it as income-restricted housing financed by tax-exempt bonds.
Then they moved to the nearby Is Arena, which Cellino intended to redevelop, but it was deemed unusable and unfit for spectators, resulting in some games taking place behind closed doors.
That month, the property management company reached out to the Downey Conservancy, a local preservation group, to say that they intended to redevelop the lot, which would mean tearing down the original Taco Bell building.
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Nonetheless, the firm is in the thick of things, as architects of the new New York Stock Exchange and advisers, with Cooper, Robertson, to Larry A. Silverstein, who holds the long-term lease on the World Trade Center property and intends to redevelop the site.
The Behceci brothers' landlord is EC Properties GP Ltd, a wing of the property giant Capital and Counties (Capco), which, with the eager backing of Boris Johnson and the Conservative-run councils of Hammersmith and Fulham and Royal Kensington and Chelsea, intends to redevelop a huge piece of the neighbourhood in which Zamazingo stands.
An Irvine-based real estate firm has acquired nearly 30 acres in Huntington Beach and intends to redevelop the property into a resort and commercial and residential offerings.
Plans submitted to Westminster council in September 2013 by Soho Estates, which owns the premises, show the venue was already among the buildings intended to be demolished and redeveloped in Soho's Walker's Court and Brewer Street in the next few years.
The buildings are intended to reduce the tax burden on a financially struggling city and redevelop the street as an engine of economic growth.
The city had intended to use the material dredged from the creek as fill on creekside parcels it sought to redevelop, including the 25-acre Captain's Cove property, where it hopes a hotel will be built.
It was not, however, until after the Urban Renewal movement in the United States in the early 1960's,..., that local jurisdictions started to get creative in partnering with private-sector companies to secure private land in the path of Urban Renewal that would be redeveloped for new, privately owned real estate development projects intended to revitalize their surrounding communities.
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