Property Lines - Scott Olson

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Real Estate & Retail

New mayor, now what?

November 7, 2007

Greg BallardReal estate developers today are trying to sort out the implications of a major upset in the mayor's race. The mayor-elect, Republican Greg Ballard (pictured), didn't reveal much about his philosophy on development during the campaign. And most developers supported Bart Peterson, the incumbent mayor. They wonder whether Ballard will oppose the tax-abatements that have propelled some of the city's major developments, since angst over property taxes propelled the former Marine to victory.

MSA's future: What will happen with redevelopment of the Market Square Arena site? Developers expect Peterson will leave the decision for the next mayor, or at least consult with Ballard. "This isn't a political decision," said Gerry Kosene, who is on one of two development teams that offered proposals. "Either the project makes sense or it doesn't. A good project is a good project."

Progress continues: Mayoral changes over the years haven't stopped some of downtown's major projects. One example is the transition from William Hudnut to Steve Goldsmith. Goldsmith grumbled about Circle Centre mall before he eventually embraced and completed the project.

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