Hillwood Responds to German Report About Victory Park Debt: It's the Economy, Stupid.

Categories: News
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Dustee Tucker, spokesperson for Victory Park, forwards along a statement from Hillwood Investments CEO Todd Platt, who addresses -- sort of -- that German Financial Times story that reports Hillwood is close to defaulting on a $185 million loan:
Hillwood operates several highly diversified, well capitalized groups of companies with many successful projects. This development, Victory Park, like many other U.S. developments, has been impacted by the tremendous downturn in the economy. We are having extensive discussions with our investment partners and remain confident in the long term viability of the
project.
After the jump, Schutze offers serves up a brief oral history lesson about Victory Park, as told by the players themselves.
"I think it's as an exciting urban redevelopment project as you're going to get, particularly when you look at what's been on that site for the last 20 years."  --Ron Kirk
The Dallas Morning News
October 9, 1998

"Victory is a great model of a private-public partnership. Hillwood shares our vision of the continued revitalization of downtown, and I applaud their commitment to investing in the future of Dallas." --Ron Kirk
National Real Estate Investor
November 1998

"If it's going to be done, it should be done right. I just want to make sure the arena doesn't take anything away from other public projects or run over the cost limit." --Donna Blumer
The Dallas Morning News
December 27, 1998

"The biggest accomplishment was getting the OK from the voters to go forward and start an enterprise that will bring a substantial amount of energy and commerce to the center of our city." --Ron Kirk
The Dallas Morning News
December 27, 1998

"The deal was made in the context of the time and with competitive pressure. We struck absolutely the best deal we could get for the city of Dallas." --Ron Kirk
The Arlington Morning News
March 19, 1999

"But you didn't want to be a mayor that let a team walk away from a city that still hasn't gotten over losing the Cowboys 25 years ago." --Ron Kirk
The New York Times
July 11, 1999

"The arena developers promised economic development around the arena, and I want to see the tax dollars generated from that development spent on basic city services, not the developers."  --Laura Miller
The Dallas Morning News
August 20, 1999

"The more we get into the project, the more people will realize what a good deal we cut for the taxpayers of Dallas." --Ron Kirk
The Dallas Morning News
August 20, 1999

"This is a good deal and getting better." --Ron Kirk
The Dallas Morning News
June 20, 2001

"[Victory Park] will help downtown Dallas become that 24-hour city with night life, hotels, world-class restaurants. Everything we need to accomplish this can be done in one fell swoop, much like Ed Bass did in downtown Fort Worth." --Ross Perot Jr.
Fort Worth Star-Telegram
October 11, 2001

"I never opposed building the arena. I think the deal was too generous." --Laura Miller
The Dallas Morning News
June 17, 2006

"We have under-promised and over-delivered." --Ron Kirk
The Dallas Morning News
July 30, 2006

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