It’s déjà vu all over again in Tustin, as the city seeks to transform the towering South Hangar at Tustin Legacy into something other than a vast expanse of former dirigible parking.
Last month city staff were instructed to develop an offering document to “provide the development community with information regarding the South Hangar’s historic significance, long-term operational costs, current structural and utility limitations and unique ownership considerations to facilitate an informed evaluation of the Site and gauge market interest.”
My unsolicited advice to the city: pre-qualify any potential partner only if they can produce $150 to $200 million up front…