The DMN article intimates a new partner is selected. However, the new partner is kept secret for the present time. Hopefully, the public meeting on March 18, will reveal the new partners. I can not stress enough the importance of this selection of partners. The Mayor and the City Manager apparently have been leading the search. They have their necks stuck out a mile and a half. They are committing every property owner in Rowlett to a partnership with this new developer/partner. Tax/Bond revenue in support of infrastructure, in return for the developer's promise to perform extraordinarily in superb real estate development. It's a partnership with ALL property owners in Rowlett.
It's easy to visualize this new deal as an agreement with "only" the City of Rowlett. You have to expand your understanding of "only" the City of Rowlett to include every property owner in the city. The future of your property values hinge on the capability of the new developers. The success, or lack thereof, of the new Bayside will have an effect on your personal balance sheet......if you own property. Essentially, this understanding personalizes the deal with every property owner in Rowlett. The Mayor and City Manager may be the "face" of the deal, but you're a partner as well, as a citizen, and some of your financial future may be at risk. It could be good......or it could be bad, depending on the competence of the "new" Bayside developers.
Our history with developers has not been good. This new partner/developer had better be "vettable." They must have an excellent resume demonstrating the type of real estate development needed for Bayside. Bayside is a sophisticated development.......much more sophisticated than previously known to the City of Rowlett. That calls for skills and disciplines never experienced before in Rowlett. That's what makes it so important. So goes Bayside, so goes Rowlett. If Bayside goes bad, we will become the butt of jokes from Rockwall and Garland. If Bayside goes well, Rowlett will be the envy of both.
I can't stress enough the importance of the selection of the new developer/partner. Presumably all will be revealed during the public meeting at the Community Center at 6:30, on March 18. If not, it's just a dog and pony show. If you're interested in Rowlett's future, you should plan to attend.
I agree with the move to get a new partner. I just want a really good developer. World class developer. The property is worth it.