2006/10/31
Canal Corp.: Destiny will just have to be smaller
The T-U reports today that the Canal Corp. has cut off talks with Pyramid Corp. over the Inner Harbor.
They claimed they'd do that last February, and then they spent the summer futzing around, but now, well, maybe they're serious.
Pyramid's imagined Destiny complex, which would start with giant additions to the existing Carousel Center, would have included the 18-acre property that drew an estimated 50,000 people total to weekly concerts this summer.
This comes as something of a kick in the teeth to Pyramid, because last week, the company cleared the last legal hurdle to expanding the mall (which is not to say that practical hurdles have been cleared).
Carmella Mantello, the head of the Canal Corp., said that Destiny (which many doubt – and few hope – will ever happen) "may be a little smaller scale."
Mantello said that by January, she will come back with a plan for the property. That plan will likely be one of these three things:
They claimed they'd do that last February, and then they spent the summer futzing around, but now, well, maybe they're serious.
Pyramid's imagined Destiny complex, which would start with giant additions to the existing Carousel Center, would have included the 18-acre property that drew an estimated 50,000 people total to weekly concerts this summer.
This comes as something of a kick in the teeth to Pyramid, because last week, the company cleared the last legal hurdle to expanding the mall (which is not to say that practical hurdles have been cleared).
Carmella Mantello, the head of the Canal Corp., said that Destiny (which many doubt – and few hope – will ever happen) "may be a little smaller scale."
Mantello said that by January, she will come back with a plan for the property. That plan will likely be one of these three things:
- A land auction
- A new RFP
- Awarding of the contract to the partnership between Norstar Development and Sutton Cos., which was the second highest bidder in the 2002 RFP that Pyramid won.
