As published in the Nashville Business Journal .
There are many myths swirling around The Lionstone Group's proposal to redevelop the blighted triangle at Division and Demonbreun Streets with a $100 million, mixed-use office and retail complex.
Myth: Eminent domain is improperly being used to assist a
Myth: The developer is attempting to acquire Joy Ford's property at a discount and avoid negotiation with her.
Fact: Lionstone's original 2006 offer was the same price per foot it paid in the purchase of the adjacent 3 acres. It has increased that to an amount vastly in excess of the fair market value. These offers have been rejected by Ford, who has refused to negotiate.
Myth: Ford wants to be left alone.
Fact: Ford has opposed Lionstone's right to redevelop its property, employing a lobbyist and attorneys to set up roadblocks. When the city abandoned the right of way for an unbuilt alley that touched the rear of her property, she sued Lionstone and the city. After the judge dismissed her case, she appealed.
Myth: Lionstone could build around her.
Fact: Lionstone has fully explored this option. Given Ford's opposition to any redevelopment and litigious nature, Lionstone concluded it would be virtually impossible to build around her parcel.
Myth: These redevelopment activities will drive Ford out of business.
Fact: Ford is a successful businesswoman, primarily operating in