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I don’t feel too sorry for Ambrose. They got $75-100 million commitment from the city and then decided that they are just not in this line of business.
Since the city made the commitment, I think they have a vested interest in making sure this is going to get developed in a way that will be an asset to the city.
Nobody has disclosed the details of the contract, and I am sure if there is a court case that will be submitted by one side of the other as evidence. It is a shame to see the property sit, but it has been sitting for a long time now and can sit for even longer. Let it drag out in the courts.