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The Bay Area is watching something that demonstrates that right now. The land under a theme park near San Jose got bought by a warehouse (think fulfillment cent
by dehrmann 4y ago
The Bay Area is watching something that demonstrates that right now. The land under a theme park near San Jose got bought by a warehouse (think fulfillment center) company. Entertainment venues like this aren't always economically viable if they have to compete on the open market with other property uses, but there's still community value to them.
- Fatnino 4y agoThere was some shenanigans there too. The land was owned by the county and the theme park was allowed to use it. Then at some point in the pandemic (I'm not totally clear on the details) the land was given (sold for very cheap?) to the theme park owner to keep the park there. The park owner then turned around and immediately (like not even a week later) sold the land out from under the park.
- dehrmann 4y agoThe city (confusingly, the city and county have the same name) sold it sold it in 2019 because California outlawed redevelopment agencies in 2011.