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March 5, 2021
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GRAND BUST
(2007-02-23)
(wgvu) - IT WAS DUBBED THE RIVER GRAND DEVELOPMENT.

BUT RIGHT NOW ..THE SITUATION IS ANYTHING BUT GRAND.

FROM BIG STORY TO BIG BUST.

A NUMBER OF MEDIA OUTLETS TALKED ABOUT A PLAN BY AN UNKNOWN DEVELOPER WAYNE FAUST OF ATLANTA .AS A POTENTIAL BILLION DOLLAR DEAL.

AND THE STORY GOT EVEN BIGGER .WHEN A LOCAL DEVELOPER AND A NEW YORK FIRM BECAME INTERESTED IN CITY PROPERTY ALONG THE GRAND RIVER.

BUT TODAY WAS DECISION DAY.
AND WAYNE FAUST'S FIRM WAS ALONE IN SUBMITTING A PROPOSAL WAITING UNTIL THE LAST MINUTE ..WITH A COURIER ACTUALLY MISSING A NOON DEADLINE.

ALSO REPORTEDLY MISSING ..A REQUIRED 65 THOUSAND DOLLAR CHECK .A 15 THOUSAND DOLLAR FEE AND A 50 THOUSAND DOLLAR REFUNDABLE DEPOSIT.

THE CITY LISTED THE PROPERTY FOR 35 MILLION DOLLARS .AND WANTED PLANS TO OFFSET THE MORE THAN 60 MILLION IT WOULD COST TO RELOCATE THE PUBLIC WORKS DEPARTMENT.

A DOLLAR FIGURE CALLED BY SOME ..TOO EXPENSIVE TO EXPECT ANYTHING TO BE BUILT ANYTIME SOON.

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