BEST BROKEN PROMISE

In the late 1980s, a private developer and Minneapolis city leaders agreed to a deal to redevelop part of downtown Minneapolis, with the city forking over a $15 million loan for what became the Gaviidae Common shopping complex downtown. In June 2002, the developer, Brookfield Properties, told the city it wouldn't pony up the more than $11 million it owed on the principal payment and interest. After the two sides failed to reach a deal, Brookfield sued the city in Hennepin County District Court to retain the rights to control the property, which houses a Saks Fifth Avenue department store. By November, with the help of a court-ordered mediator, the two sides had worked out an agreement, with the city taking over the parcel and getting stuck with an undisclosed portion of the tab. Sure, it's another bad development deal for the City of Minneapolis, but no time to worry about that now: We've got a department store to run.

Latest Best Of User Comments

  • BEST COLUMNIST (1)
    2008-12-18 19:29:18
    I was Patrick's sports editor at the St. Paul papers in the early 1980s and it was one of my...
  • BEST STRIP CLUB (1)
    2008-12-16 10:53:25
    What the hell are you recommending here? This place sounds more like a club for gentlemen. Is...
  • BEST FRIES (1)
    2008-11-03 15:38:20
    Barbette's used to be good; i would say they peaked in 2004. Since then, they have been going...
  • BEST AM RADIO PERSONALITY (1)
    2008-11-01 20:07:22
    wow i am stumped this gut is just plain not funny and a real dipsh-t if you were to ask...
  • BEST BAND NAME (2)
    2008-10-22 19:52:07
    Shouls have have been Best Band award!

Best of Minneapolis 2003 Award Graphics

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