As always projects such as these are hyped up by those with a vested interest in doing so. Nothing necessarily wrong with that but you have to view their optimism with some caution and a big dose of salt.
People who have bought at Polaris World’s Condado Alhambra have seen their investments plummet in value. They see this Paramount project as a lifeline. The banks who have repossessed that companies land seek a high return for it’s sale/partnership.
Paramount is part of the US conglomerate Viacom. If they thought this was a viable investment they would be putting up some of their own capital. They are not.
I simply do not believe that public funds will not be used in one form or another to facilitate the project. This can of course take many forms, such as providing infrastructure at public cost.
If you are familiar with the site and the area it’s planned to build in, you would be forgiven if you said the plan is completely balmy. A business leisure park?
Go around that small region and you will find dozens of business parks built in the last 5 years decaying, overgrown and up for sale. Where Polaris World’s glassy headquarters stand for example there are many such business premises shuttered up, growing weeds and abandoned to their fate. Monuments to the over optimistic credit fuelled times of this past decade.
When will they ever learn? It seems optimism over rules common sense every time.