Marina District property could be pulled from owners
Thu, 26 Jun 2014 03:29:04 GMT —
Toledo Mayor D. Michael Collins says heâ??ll yank the Marina District property away from its Chinese owners and put it back on the market if he canâ??t get talks going with them. The mayor says heâ??s been unable to meet with the Chinese company.
He says there was understanding that substantial development would be made on the property, and thereâ??s been none.
Mayor Collins says he was scheduled to meet with the owners in February, but that never happened. Neither did another scheduled meeting in early June.
He says if he doesnâ??t hear from the owners by the fall, heâ??ll put the property back on the market.
â??My goal is to have a seamless transaction on the property, or perhaps sell it for more than 3.8, but thatâ??s the bottom line,â?? Mayor Collins said.
The Marina District was acquired by a Chinese company called Dashing Pacific in 2011.