Constructing a city park above a major highway is a unique concept which appears to be ready to work for the benefit of many, as the below linked article shows. Another interesting element to the venture is that it comes from a private and public partnership. Those are separate steps which each require plenty of research, input, and planning in addition to financial considerations. Both steps started after someone had an idea.
Getting the project to the point of opening is proof that a solid real estate idea can become a reality. However, it is easily possible to have a great idea that does not go anywhere. It doesn’t go anywhere without convincing research AND a solid presentation. There was also the incredible aspect of timing the build to coincide with the construction project of I-35 by the Texas Department of Transportation making this no small feat.
Chances are at least one person told whoever first thought of this that “it won’t work”, and that was before the concept of private and public shared funding even came up. There is a huge lesson to be learned from knowing this concept is actually happening.
The mixing of private and public funding is likely to have different tax and financial consequences on both sides, even though it all needed to come together to get the project completed. Making the extra effort to get this project done could eventually be a multi-million dollar difference for the participating entities. There are also the attorneys, lenders, investors, architects, and brokers that worked together to establish the deal and execute it to get it done.
Going back to the early stages, there was having to make the initial proposal come alive in presentation. All of the key participants needed to be convinced and sold on making this happen. Doing so took intense research and then the ability to deliver a solid message to those in command. This project is an incredible example of the difference that thorough research and proper preparation can make for a real estate project!
Those who shared initial doubts, do not think they need a research person or team, or do not consider what could be done with available land, would not be able to make any of this happen. Look at how many people and companies that were “first in” will benefit for years to come!
