'Mystery' project's developer a novice
Ken Kolker
MLive.com
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Grand Rapids, Michigan (US):
The man behind the proposed $1 billion "mystery" development along the Grand River says he never has done anything like this before.
In fact, this is Duane Faust's first development project of any kind, he said. In an interview with The Grand Rapids Press, the 38-year-old former basketball star, who owns a real-estate and mortgage company, said he is moving forward on a deal to transform part of Grand Rapids into an upscale entertainment, shopping and housing district.
But Faust's lack of a track record in developing projects, and $850,000 in tax liens in California, are raising questions about his ability to orchestrate such a project.
"There's a difference between a visionary and a dreamer," City Commissioner Rick Tormala said. "A visionary has a plan. We can't waste our time chasing dreams. My question is: 'Show me what you've done in the past."
Mar 29, 2006
Ken Kolker
MLive.com
________
Grand Rapids, Michigan (US):
The man behind the proposed $1 billion "mystery" development along the Grand River says he never has done anything like this before.
In fact, this is Duane Faust's first development project of any kind, he said. In an interview with The Grand Rapids Press, the 38-year-old former basketball star, who owns a real-estate and mortgage company, said he is moving forward on a deal to transform part of Grand Rapids into an upscale entertainment, shopping and housing district.
But Faust's lack of a track record in developing projects, and $850,000 in tax liens in California, are raising questions about his ability to orchestrate such a project.
"There's a difference between a visionary and a dreamer," City Commissioner Rick Tormala said. "A visionary has a plan. We can't waste our time chasing dreams. My question is: 'Show me what you've done in the past."
Mar 29, 2006
