John W. Rogers, the corporation's chairman, emphasizes that thewhile the Letter of Intent only starts the negotiation process,"the Board is committed to moving the process forward, and toproviding opportunities for members of the Lennar team to meet withour Board, staff and consultants, community leaders, and members ofthe community at large."

Kenneth Goff, executive director of the corporation, alsostresses that both his group and Lennar want to wrap up thenegotiations as quickly as possible. "We expect to move forwardquickly with a mutually agreed work plan and schedule related tomaster planning, permitting, and contract scope with MassHighwayand the Federal Highway Administration," he notes.

The agreement with Lennar is significant as the corporation hasbeen looking for a master developer with whom to create apublic/private partnership for nearly two years, ever since a planby the VA-based Mills Corp. to develop a huge mall on a 155-acreparcel on the site was dropped because of fierce local opposition.The $250 million mall was to have been the centerpiece of theproperty.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.