New Airport- all it's hyped to be?

[egrp]

i have been as negative on housing as anyone on this board with the exception of Shelly...but JOE has done extensive studies on what happened to communites such as Tampa and Irvine CA when large capacity airport facilities became available. yes we are in a prolonged housing slump right now...20 yrs from now PCB airport will be plenty utilized with tons of capacity and i would not be suprised with numerous international passenger flights. this will happen...construction costs will never be cheaper, it made sense to get the airport online now...especially with all the red tape involved like JOe said.

As to LUK's purchase of the old aiport...i have their basis at a about $2/SF...many are not aware of LUK but their track record on being able to take advantage of cheap assets has been nothing short of spectacular. The old airport land is an extremely attractive tract with a ton of access to the bay...i bet over time they will do ok.

 

[TooFarTampa]

I didn't used to believe this but I think gambling will eventually make its way to PCB.

I would rather Florida "benefit" from gambling than offshore drilling, any day!

 

[Smiling JOe]

It only makes sense that Florida would allow gambling. The State already allows Sunday morning liquor sales, and it is legal to shoot someone entering your property if you feel threatened by them. Gambling has to be next. (that said, the Indians get to keep their casinos until the FL Supreme Court rules on the case with the Indians giving $50 million to Charlie Christ (the State) in return for opening the doors.)

 

[TooFarTampa]

It only makes sense that Florida would allow gambling. The State already allows Sunday morning liquor sales, and it is legal to shoot someone entering your property if you feel threatened by them. Gambling has to be next. (that said, the Indians get to keep their casinos until the FL Supreme Court rules on the case with the Indians giving $50 million to Charlie Christ (the State) in return for opening the doors.)

Better Powerball than tar balls (check)

Better craps and blackjack than black crap (coming soon ?)

 

[Matt J]

The only issue I can see with the new airport at this stage is Phoenix Construction. They have continuously bent Bay county over and had it's way with them. They are currently slated to build the runway and I would take any bet that the runway will have major problems in a matter of 2-3 years. Then the county will hire phoenix to come back and fix their mistake at the taxpayers expense. Does the name of this company start to make sense?

 

[SHELLY]

The only issue I can see with the new airport at this stage is Phoenix Construction. They have continuously bent Bay county over and had it's way with them. They are currently slated to build the runway and I would take any bet that the runway will have major problems in a matter of 2-3 years. Then the county will hire phoenix to come back and fix their mistake at the taxpayers expense. Does the name of this company start to make sense?

You talking about this story?

Contractor to Airport Authority: 'I'm going to file a claim on your (expletive)'


PANAMA CITY - James Finch cajoled, begged and then threatened Airport Authority members on Tuesday and ultimately got what he wanted.

"I'm going to file a claim on your ass," Finch told the authority members during a special meeting to discuss runway construction materials and length. Finch's Lynn Haven based company, Phoenix Construction, is doing the first phase of work on Bay County's new $330 million airport in West Bay and is ready to proceed with the impervious stuff.

Vice Chairman Bill Cramer was quick to respond.

"What part of our anatomy are you going to file
a claim on?"

I.ramer asked. He called on Randy Curtis, executive director of the airport, to do something about the level of decorum in the room and asked airport attorney Franidin Harrison if Finch had any legal grounds for a claim on their posteriors.

Finch apologized for the language but persisted in his mission.

"Why won't y'all let me do my job?" Finch replied. "All I want to do up there is to do my job."

Finch said he did not want to wait three more weeks for the Airport Authority to choose between asphalt and concrete runways. The delay, he said, would cost him and his contractors millions because the price of gas and materials continue to rise.

Cramer said he wanted the authority to wait until bids for the terminal building, the rental car center, the air traffic control tower and other projects at the new airport come in Aug. 8. At that time, the airport would have a better understanding of its financial situation.

Finch said he had worked quickly and brought the project several weeks ahead of schedule at the request of certain airport officials. Now, if he did not get a green light, he would have employees and equipment on site with nothing to do.

It does not matter what certain board members told Finch in private, Cramer said, only what the board decides at public meetings.

"Maybe you should go through the proper channels," Cramer said. "No single member of this board has the authority to bind this board."

http://www.nwfdailynews.com/news/airport_9517___article.html/finch_cramer.html

 

[SHELLY]

i have been as negative on housing as anyone on this board with the exception of Shelly...but JOE has done extensive studies on what happened to communites such as Tampa and Irvine CA when large capacity airport facilities became available. yes we are in a prolonged housing slump right now...20 yrs from now PCB airport will be plenty utilized with tons of capacity and i would not be suprised with numerous international passenger flights.

(1) I have a gut-feeling that in the near future, someone in the media or on Capital Hill is going to call the PCB/Bay International "The Airport to Nowhere."

(2) I don't find the prospect of turning this area into another Tampa or Irvine appealing.

(3) In 20 years we'll all have our own "Jetsons Cars" making airports obsolete and turning Aerotropolis' into ghost towns.


.

 

[Miss Critter]

I want a Jetsons car.

 

[30ashopper]

"The Airport to Nowhere."

Shelly, that was Classic!!!!

:funn::funn::funn:

 

[AAbsolute]

Bring me up to speed on how LUK would earn

i have been as negative on housing as anyone on this board with the exception of Shelly...but JOE has done extensive studies on what happened to communites such as Tampa and Irvine CA when large capacity airport facilities became available. yes we are in a prolonged housing slump right now...20 yrs from now PCB airport will be plenty utilized with tons of capacity and i would not be suprised with numerous international passenger flights. this will happen...construction costs will never be cheaper, it made sense to get the airport online now...especially with all the red tape involved like JOe said.

As to LUK's purchase of the old aiport...i have their basis at a about $2/SF...many are not aware of LUK but their track record on being able to take advantage of cheap assets has been nothing short of spectacular. The old airport land is an extremely attractive tract with a ton of access to the bay...i bet over time they will do ok.

Thanks for your reply to my question about LUK and their purchase of the PC Airport. I'm trying to get around the idea, because I think Ian Cumming is super smart and I'm trying to figure out why so much carry cost at this time. Wasn't it $75,000,000? The interest carry's got to be 4,500,000 per month. Can the business of the airport cash out at that monthly rate at this time? If it's ultimate plan is development, but that won't commence until after the airport is closed, and the business doesn't generate break even at this point then doesn't that mean the basis is going to be more than the 75,000,000? I understand that he controls air rights near Washington, D.C. and I am not informed enough to understand profiting on that type of arrangement. What am I missing? Is there more here about some future litigation or arrangement than meets the eye?