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thenewgreen · 4859 days ago · link ·
There is no free lunch, this is a common way for companies to anchor themselves in a burgeoning real estate sector. They often put up huge sums of money (most of which is financed) from capital raised by a select few VC's, in return for sole development rights or first rights of refusal for future development within the "determined area". We see this with the development of Casino's in areas like Detroit and (soon) Cleveland. There is definitely no free lunch but at the same time, these areas are often so "hungry", it's good to know they are getting lunch no matter the price.