June 25, 2007 6:46 PM
It's every bit as crazy as has been hinted at all along: Land Partners II thinks their low-lying, unstable, former railroad yard is worth $65.375 million. And what's even crazier is that they think they could have gotten that much for it even if no one wanted to build a ballpark there!
Keep in mind that, in theory, the court is to determine the value of the land regardless of the purpose for which it is being condemned. In other words, they will try to determine a value as if nothing special were going on there. The amount which comes out of this should be the same amount that LPII could have gotten on the open market back in 2005 (adjusted for inflation).
I'm no expert at this, so I have no idea what to expect from the court. But I think that mentioning the value of the land sale to the Vikings is tantamount to saying, "My house is worth the same as that other house way across town, even though mine is in a completely different neighborhood, with less bedrooms, worse soil, and a much lousier view." We all know the first three rules of real estate value: Location. Location. Location.
Beyond that, during the introduction to the site provided by the Twins, a representative from Mortenson construction said, in an off-hand manner, that the land could never have been used for high-rise construction because it was not stable enough. High-rise buildings, he said, have all their weight concentrated on one relatively small area. The difference with a stadium is that the weight is distributed more or less evenly across a much larger area. His implication was that almost nothing but a stadium (or perhaps some other low-rise building) could have replaced surface parking due to the geologic conditions there.
Don't blame LPII for trying to cash in, but don't be surprised if the final number is nowhere near their pie-in-the-sky demand. They probably would have done way better without seeming so, well, grabby.
On the other side of the coin, just how bone-headed does Hennepin County look right now? They appear to have made a stupid assumption, dragged their feet, allowed silence to fester into animosity for months and months, and then tried to smooth it all over by essentially whimpering, "I thought we had a deal..."
There's no question that the land is going to cost them millions more than it would have if they'd made a deal within a few weeks of the law being passed (or at least as soon as was possible given whatever had to happen legally behind the scenes). The Twins have saved their asses, that much is for sure.
And let's not let that point go without some emphasis. This really should not have been the team's problem, but they stepped up with some cash (in exchange for considerations, of course, but still). If it's true that the team will ultimately contribute 35% of the overall cost of the park, that's a better deal than almost any other governmental body has gotten from a pro sports franchise in a very long time.
So I guess it's still an open question about how this proceeding will affect the ballpark which is ultimately built. That's for another day.
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This page was last modified on January 21, 2010.
"You talk about the magic, the aura, but what really makes a stadium is the fans. Concrete doesn't talk back to you. Chairs don't talk back to you. It's the people who are there, day in, day out, that makes the place magic."
– Bernie Williams
Explore the Site
Here are 50 images chosen randomly from the 3046 found on this site. Click the image to be taken to the original post. A new list is created every 10 minutes.
Concept drawing of Coomer gate (click to enlarge)
This looks toward the middle of the park. The third base side of the Legends Club is to the right up ahead, while the 573 Club is just barely visible at the end of the hallway. It extends to the left.
They help create a psychological safe area along the plaza edge, and help you forget that cars are zipping by directly beneath you.
Home Plate Box, Section 111, Row 8 or 9-ish (Click to enlarge greatly.)
These are the outside tracks which go under the promenade
LRT station has appeared.
From last week, you can see the piers taking shape. I believe that the front row, visible here as just forms and reinforcing rods, is the front edge of the plaza.
Ballpark elevation diagram, viewed from Fifth Street. (Click to enlarge.)
Killebrew's mammoth shot on June 3, 1967 is currently memorialized on a wall at the Mall of America
On this day, George was handling fruits and veggies right inside gate 34.
Click to enlarge greatly. See yourself?
Did you know that the out-of-town scoreboard is covered by a black chain 1ink fence?
8:02 PM It's at peak, affecting mostly the upper deck.
Though there's nothing there now, you have to believe they'll find a way to add a party deck up there at some point.
Looking down Sixth Avenue toward the plaza
Notice the temporary railing extensions
Home Run Porch Terrace
I will take a picture of just about anything.
The Pantheon (with inset of the magic eye)
BPM - Ballpark Magic
BRT - Bus Rapid Transit
DSP - Dave St. Peter
FSE - Full Season Equivalent
FYS - Fake Yankee Stadium (see also: NYS)
HERC - Hennepin Energy Resource Company (aka the Garbage Burner)
HPB - Home Plate Box
HRP - Home Run Porch
LC - Legends Club
LRT - Light Rail Transit
MBA - Minnesota Ballpark Authority (will own Target Field)
MOA - Mall of America
MSFC - Minnesota Sports Facilities Commission (owns the Metrodome)
NYS - New Yankee Stadium
SRO - Standing Room Only
STH - Season Ticket Holder
TCFBS - TCF Bank Stadium
TF - Target Field
Selected Bibliography - Analysis
First Edition (1992)
Second Edition (2006)
Selected Bibliography - Surveys
Second Edition (1987)
Not a "Third Edition" exactly,
but it replaced the above title
(2000, large coffee table)
Original edition (2000, round)
Revised edition (2006, round)
(2001, medium coffee table)
(2002, small coffee table)
(2003, medium coffee table)
(2004, very large coffee table)
(2006, very large coffee table)
Combines the previous two titles
(2007, medium coffee table)
Selected Bibliography - Nostalgia
Book and six ballpark miniatures