Got to have a talk with a very good friend close to the HEB portion of the deal today and here's the rundown on everything that could have been:
-As early as the beginning of 2010, HEB had an agreement for the land with Ainbinder.
-Over the course of the Spring of 2010, Ainbinder and HEB were working out the details on how the deal would work.
-The Land value there is High ... really high ...
-HEB planned to utilize up to 10 acres for a store that would be very similar to their 'Hybrid' store (Mix of normal HEB + Central Market) on Buffalo Speedway just south of 59 near Rice Village
-Somewhere in late Spring, Walmart came in to make their own bid (yes, this was after the developer had agreed with HEB)
-HEB officially declared their deal dead in mid June, barely two weeks before the information leaked about Walmart
-Ainbinder is making over $50.00/sq ft. At 24 acres, thats over $50 Mil for the property in total, and over USD $30mil for Walmart's share of it.
-Walmart purely outbid HEB, after the agreement had been made
Ainbinder had a deal, then they broke it to sell to Walmart. And while Walmart tells Spring Branch Neighbors 'its our land, we bought it, we can do whatever we want with it', HEB tells Montrose folks 'We'll spend an extra few million to give you some greenspace, and put our store on stilts, then give you three designs to choose from as a community.'
There's a novel idea ... actually working and listening to the community.
A 'Hybrid Store' (mix of Central Market + normal HEB) would have been TOTALLY out of place there (READ: More Sarcasm).
Good show Walmart.
Why on earth does the city want to do business with Ainbinder? Really? Is this what our local government is choosing to do with our Tax Dollars? Really?