Remember Zimbalist in the Telegram
The project was sold as costing the taxpayers nothing due to Phase I development.Here is a section from the Telegram:
Mr. Zimbalist, the city’s consultant, said his projection that the project pay for itself counts on the $90 million in private investment anticipated in Phase I. It does not count on the development envisioned in Phase II, which includes an office building, residential development and retail.
April 1, 2021 projected completion of Phase 1:
- Consists of $90 Million and approximately:
- 450,000 square feet of development:
- $40M - 2 hotels; approximately 250 rooms in total
- $40M – residential; 250 market rate apartments
- $10M - ~65k SF of retail
Editor's note: January 2023 and none of these projects are on-line. If we needed these projects to pay for itself, and none of them have been built does this then not mean Polar Park will be costing taxpayers alot of money???
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