Through the Freedom of Information Act, we have requested and received written updates from each party in the Junction Redevelopment negotiation: the developer NDC and the Co-op. We encourage you to read the documents below and come to your own conclusions.
We think it is important for the community to recognize that the Co-op, which has received some preferential treatment in the development agreement, must also act reasonably to reach an agreement. The story is more complex than that of a “David (Co-op) versus Goliath (Developer)” negotiation. NDC is a small, minority owned developer in the metro region with a track record of supporting and helping their tenants thrive.
Some in the community believe that the Co-op has been treated unfairly or the city should intervene in this business negotiation and effectively subsidize the Co-op by using the government to force the developer’s negotiating position. We disagree. While we agree that the Co-op is an important part of our community, we also think that other small businesses that have invested in our community should be treated relatively equally. The City Council should not be picking winners and losers. We think that the Co-op and the developer have every incentive to work together towards a successful result: a new revitalized shopping district with the Co-op as a beloved, local, and profitable anchor tenant ready to pay rent to the developer on Day One of the Grand Opening. Suggestions that the developer or the City are trying to act unreasonably and not support the Co-op during construction are unhelpful and do not have any basis.
In our view, the documents below support our view that NDC has been acting in good faith and trying to bring solutions to the negotiating table. We hope that the Co-op will do the same, although it does not appear that they have offered constructive alternatives to date. We have been informed that NDC has accepted the idea of mediation to resolve the negotiation and we hope that the Co-op will also agree to participate.