News Article: Lebreton project

[NorthCoast]

First off, Trinity is not the top dog in development. Claridge or the Malholtra family has many billions invested in development. They also have been side by side on this Lebreton project which would only make sense to further develop it. Only issue I see with this, is knowing the family intimately, they do not have an appetite for accumulating loses on a sports franchise. Either way, EM is going in a different direction with this project and frankly, not doing it with Trinity or John Ruddy is fine by me. He and his partners screwed many many honest business people and families while completing the Landsdowne project. I do no think many suppliers or contractors want to relive that scenario with Trinity once again.

What other direction?

It's hard to believe that he is going to get significantly better offer from someone else. Ruddy is no doubt a greedy SOB, but he is not throwing away his opportunity on a 4B development just because he wasn't able to gouge Melnyk on the deal. So you have to believe that at the point Ruddy is willing to walk away, the offer to Melnyk was close to what others would offer.

Regardless, developers like Ruddy, Claridge, Minto, etc have spent their whole life doing these deals/projects. Melnyk has never come close to a development project like this. They are all going to get the better of him in negotiations and then it will turn south because of Melnyk's ego/temper. I don't see how any change in direction fixes the problems on the sens side of the equation.

 

[Wondercarrot]

I will still only repeat what I know without revealing names. Prominent ottawa family with a handful of ex nhl players. This is starting to make sense, how would the new investors partner with EM and also have trinity to deal with and split the pot of gold. I just never thought it would reach a level such as this to sever the current development partnership.

lol

 

[JD1]

What other direction?

It's hard to believe that he is going to get significantly better offer from someone else. Ruddy is no doubt a greedy SOB, but he is not throwing away his opportunity on a 4B development just because he wasn't able to gouge Melnyk on the deal. So you have to believe that at the point Ruddy is willing to walk away, the offer to Melnyk was close to what others would offer.

Regardless, developers like Ruddy, Claridge, Minto, etc have spent their whole life doing these deals/projects. Melnyk has never come close to a development project like this. They are all going to get the better of him in negotiations and then it will turn south because of Melnyk's ego/temper. I don't see how any change in direction fixes the problems on the sens side of the equation.

you may have it backwards

ruddy is throwing away his place in a 4B deal because he wasn't going to get gouged by melnyk

 

[Stylizer1]

Ferrari is in storage for the winter. So I will only throw out there what I know and when new developments happen. John Ruddy was hedging his own fortune by doing his own development right next to lebreton. I still think EM is down right crazy, but if I was partnering with a developer with a project that would change the neighborhood and he goes behind my back to hedge his own billion dollar project next to ours....well, that would piss me off and pull the plug on it.

Why?

 

[Tnuoc Alucard]

Another interesting read

Is the Ottawa Senators relocation plan on the verge of collapse?

 

[DaveMatthew]

you may have it backwards

ruddy is throwing away his place in a 4B deal because he wasn't going to get gouged by melnyk

After this debacle, why would the NCC move forward with any new bid that included Melnyk as a key stakeholder? He's burned those bridges. Ruddy, if you read between the lines of what Jim Watson said yesterday and other Ottawa business leaders are saying today, hasn't.

Melnyk can decide to pursue a partnership with whoever he wants, but the NCC has final say on who wins the bid. From everything we've heard, it won't be him.

 

[Gil Gunderson]

Did they ever come up with a clause that said they can't develop through their own ventures in a certain distance from the site?

If not, what basis does Melnyk have here? Is he just flushing money down the toilet to spite everyone for not getting his way?

 

[DaveMatthew]

Another interesting read

Is the Ottawa Senators relocation plan on the verge of collapse?

Old news.

 

[DaveMatthew]

Did they ever come up with a clause that said they can't develop through their own ventures in a certain distance from the site?

If not, what basis does Melnyk have here? Is he just flushing money down the toilet to spite everyone for not getting his way?

No, and Melnyk doesn't even understand the impact of other developments in the area.

"The man who headed up the bid that brought NHL hockey back to the nation’s capital in 1992 told OBJ he doesn’t buy Melnyk’s allegations that Ruddy and Trinity’s plans to build other mixed-use projects near LeBreton Flats will undercut the success of the multibillion-dollar proposal to redevelop the 20-hectare site just west of downtown.

Calling Ruddy “an outstanding developer and a great community person,” Bruce Firestone said developments such as Trinity’s plan for 900 Albert would complement rather than undermine the RendezVous LeBreton venture.

“Our region is doing very well economically,” said Firestone, who is now an Ottawa real estate broker. “There’s plenty of room, in my opinion, for great projects like Zibi, like RendezVous LeBreton and like Trinity’s project not far away. They are not competitive; in my view, they are synergistic.”

Update: Ottawa Senators owner launches $700M lawsuit against partner Trinity, ending LeBreton bid | Ottawa Business Journal

Melnyk's just throwing a hissy fit because he wasn't cut in.

 

[Do Make Say Think]

Ferrari is in storage for the winter. So I will only throw out there what I know and when new developments happen. John Ruddy was hedging his own fortune by doing his own development right next to lebreton. I still think EM is down right crazy, but if I was partnering with a developer with a project that would change the neighborhood and he goes behind my back to hedge his own billion dollar project next to ours....well, that would piss me off and pull the plug on it.

So you are actually going with the play "repeat what the twitter bot(s) are saying"?

Damn man, I guess you have no pride. How does a "housing property on Albert" compete with a 4 billion project?

 

[Take a Bath Son]

Is this really for real? It must just be some kids having fun at this point. No way that adult professionals are doing this. Are they? Lol

its really on twitter, probably the same group that did the uber thing. I can't imagine its a fan, nor any sensible corporate entity. Keyword being sensible.

@debrsassahill

 

[pown]

Hahahaha oh man. He really is our very own Trump.

Dont insult Trump like that.

 

[Sens]

The spin job here by the supporters is terrible
Go read up on “Fuhr’s” posts for some guidance... that dude knew how to spin an agenda

 

[GCK]

Can someone please explain why a lawsuit between partners in a bid group could legally prevent the NCC moving on to the Devcore bid. No one is suing the NCC at this point.

 

[armani]

The spin job here by the supporters is terrible
Go read up on “Fuhr’s” posts for some guidance... that dude knew how to spin an agenda

Where's Fuhrsie nowadays?

 

[BondraTime]

The spin job here by the supporters is terrible
Go read up on “Fuhr’s” posts for some guidance... that dude knew how to spin an agenda

Isn't that you?

 

[Gil Gunderson]

Can someone please explain why a lawsuit between partners in a bid group could legally prevent the NCC moving on to the Devcore bid. No one is suing the NCC at this point.

I don’t think it does.

NCC should just move on with Devcore . Let Melnyk self-destruct and pick up the pieces afterwards.

 

[Sens]

Where's Fuhrsie nowadays?

He probably became a chef, got married and is living it up...

 

[Sensung]

Another interesting read

Is the Ottawa Senators relocation plan on the verge of collapse?

Hey Count. You presence is required in the Melnyk lawsuit thread.

Time to admit you were wrong.

 

[Micklebot]

We've hit 1000+ posts,, and it looks like Lebreton is on hold at best. We can probably get away with discussing anything that would land here in the melnyk suing Ruddy thread until something else comes up about future Lebreton development

News Article: - Ottawa Senators owner Eugene Melnyk suing partner over 'failed' downtown NHL arena bid