Quote:
Originally Posted by TomC
I saw that this development is going to be $50-$60M. Lets make the math easy and say its $52M. Any decent private wealth manager should get an annual return of 10% for his/her client (and maybe more). So the opportunity cost for this 'project' is $5.2M a year in investment earnings... Who really believes this 'wedding venue" is able to bill out $100,000 per week minimum every single week of the year? It doesn't add up...
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My understanding is that weddings at Church Landing often run $30-$50K. The first year they opened, my daughter got married there, (prices were lower then) they were doing five weddings every week
end. More on holiday weekends. As people get married at older ages now, lavish, destination weddings are common. When you do a destination wedding, the "destination" gets all the $$, photography, rooms, cake, flowers, bar, band, etc. $100K / week doesn't seem at all unreasonable to me.
That being said, I hope the ZBA denies the variance. Wasn't it Alton that wouldn't let Bob Bahre (sp?) show off his car collection as a commercial operation in a residential zone?