Thursday, July 7, 2022

[Un]Real Estate Moguls

Shortly after getting bitch-slapped over trying to steal four acres of land from a local mega-church Dunwoody's bureaucrats are back in the game. Just a small walk away from the church's property is a lot Dunwoody picked up back in the day in order to pull Wieland's financial ass out of the fire during the real estate meltdown. One of their first Friends and Family successes. 

Then seeming contradictions set in. 

The map shown in the official notice says 4400 N. Shallowford whilst the text claims it is 4400 Dunwoody Park. Google maps doesn't result in the highlighted lot for either address and DeKalb has no map or GIS data for that parcel ID. It does show "Urban Redevelopment Agency" as the owner of record which is more than odd as there has never, not once, not ever been any structures or other development on this property. Only in the twisted minds of city bureaucrats can you have "urban redevelopment" in the suburbs on property that has yet to be developed. Semantic gymnastics of idiotic proportions. 

It gets better. 

They want offers in excess of $1M for a property is significantly smaller than the church property they low-balled under threat of confiscation by way of imminent domain. To be fair, the county lists a value of more than $1.2M. To be honest, they could have done due diligence on the church property and come away with a rejected, arms-length offer of close to $5M. Maybe they are not the real estate moguls they think they are. Maybe there are other things going on.