Maharishi's Greed Puts Hole In Town
File under: The Siddhi of PR
The greedy Maharishi wants a cool 10 million for the hotel on Constitution Plaza in downtown Hartford, Connecticut:
Today, its owner is marketing the vacant, decaying structure as worth $10 million - but there are no takers. Hartford's mayor says the building should be torn down.A real estate developer trying to get the project off the ground came away with this impression:
The 12-story hotel, empty for a dozen years, has been a troubling obstacle for those who see the building as part of a crucial gateway to the city. The sale price set by the Maharishi School of Vedic Sciences Inc., its owner since 1995, has been too high to make any redevelopment, hotel or otherwise, financially possible, observers say.
"The Maharishi is impossible to deal with," said David Ong, president of Acquest Realty Advisors Inc., of Bloomfield Hills, Mich., which wanted to resurrect the building as a hotel in 2000. "We were never able to make a deal that made economic sense."And they've already lost millions on quite a few other land deals, so the money-mad Maharishi is holding on with his manicured fingernails to any chance to recoup. The real losers: the people of Hartford, who the Maharishi doesn't give an apparent damn about outside of their utility as potential marks in his land scams.
"At the end of the day," Ong said, "they are land speculators."
Have a merry TM™ Christmas, Hartford!