December 05, 2008

Southgate Place

You may think my last post was a joke, but it was not. If you take a look at the Southgate Place project this is an essence exactly what is happening except that the developer is not even buying the land, the South Worcester Neighborhood Center is supplying the land. Upon completion of the this project the partner in this project with South Worcester, who is having all their expeneses paid from the $7,000,000 projected cost, will be a 49% owner.

Not a bad deal. Word gets out on this stuff and even more developers of "affordable"housing will flock to Worcester.


Anonymous said...


Your new business venture would also have to supply goods and services to your renters. May I suggest the following franchise?

Harry T
Worcester, MA

Anonymous said...

You know I have been pondering this and wondering to myself, what am I missing here.

Why does SWNC need a for profit partner (or any partner) when they are capable of landing all the grants, freebies, giveways, etc to pull off this $7M City Builders site project by virtue of being a so called non profit (good guy).

If I am SWNC why should I use my clout & influence as a non profit to land $7M worth of freebies only to have to hand off 49% of the finished product to someone else(a for profit building co).

Why not get $7M all for myself and then go out and the hire contractors and talent to build the place under my control and I end up 100% owner?

In other words what does this Natick company bring to the party such that SWNC is willing to give away 49% of the finished product to this Natick company. ANy talents and skill sets that the Natick for profit co. has (brings to the party) can be bought in the marketplace with the $7M that SWNC has acquired to puill off thsi City Builders site project.

Makes no sense to me or I am missing something............OR something else is going on behind the scenes????????...... i.e Who are the "beneficiaries" of the Natick co's success(es)

If I am a non profit and I have just discovered a $7M gold mine in the flatlands of Main South......why would I want to bring in a 49% partner?

Its kind of like the old Amway Multi level marketing deal (scam). If I am already an Amway dealer why would I want to bring a partner (so called downline) to compete with me with the result that I end up losing 49% of my business to the new "partner"