Pitchmen Paul Kreckman and Bryan Bostic said they would answer all questions. Then they didn’t do it.
The men who would build a baseball stadium in Shockoe Bottom made a presentation in Albert Hill Middle School’s auditorium on Apr. 22. The early-evening meeting was advertised as open to the public. Maybe 70 or 75 people showed up to listen to Kreckman, of Highwoods Properties, and Bostic, of Richmond Baseball Club.
The crowd was told to hold questions until the presentation was done. The audience complied and sat politely through the structured part of the night.
Kreckman spoke mostly about money aspects of the developments his outfit has designed for the Boulevard and Shockoe Bottom.
Bostic spoke mostly about the baseball stadium he wants to see built, to be the home field for a minor league franchise his group is in the process of buying. With his intensity ratcheted up, Bostic said, “There’s a game out there ... it’s called baseball.”
Kreckman was folksy and well-modulated. But his take-it-or-leave-it threat was clear -- if the stadium component of the plans doesn’t fall into place, Highwoods will walk away from the whole shebang.
Later Bostic said, “It’s not about wins and losses, it’s about the experience.”
By that Bostic was talking about how the fans coming to see his team play will be more interested in the stadium’s festive atmosphere -- the view of the skyline, the bells and whistles, which will appeal to folks who don’t care about actually watching baseball.
Kreckman said, “I’m not a baseball fan.”
Bostic said, “It’s not about the game ... it’s about sunsets.”
Of course, they both said a lot of other things, too. Neither man was particularly convincing. What happened during the Q&A session was more telling than the spinning numbers and blue sky projections had been.
Among the initial half-dozen questions, some were challenging. Obviously, there were some citizens in the room with a bone to pick. So, a new rule was laid down -- only one question per citizen.
Tougher questions were asked. A man brought up Bostic’s history with Richmond Baseball Initiative, the group that effectively put the kibosh on the plan to renovate The Diamond, with its push for a baseball stadium in Shockoe Bottom five years ago.
Bostic bristled. He labeled the question, “unfair!” Then he blustered about The Diamond’s $18.5 million renovation plan. He cracked that the figure would have turned out to be “$30 million.”
In other words, we should not have bought what the Richmond Metropolitan Authority said, but Highwoods’ estimates are as good as gold. Bostic mocked the RMA, while he wants to create a new “authority” like it to own the new stadium and issue the bonds.
Shortly afterward, with hands aplenty raised to ask questions, the meeting was declared over. It was frustrating to leave the room with a head full of questions. Questions like:
- The Diamond is almost 24 years old. Is it common to issue 30-year bonds on a building that has a 20-to-25-year life?
- For the first two years, Bostic’s new team will apparently play at The Diamond. If the deal for Shockoe Bottom doesn’t happen, how willing is Bostic to talk about staying at The Diamond?
- Minor league baseball is no sure thing. Say Bostic has to sell the team in five years, what would happen if the new owner wants to move it to another city?
- If the revenue from the taxes earmarked to service the bonds isn’t there, the bondholders can then seize the stadium, according to Highwoods. So, what would that do to Richmond’s credit rating? And, who would buy such a facility?
- What will leaving the two surrounding counties out of the new stadium deal do for the spirit of regional cooperation?
- In 2005 City Council agreed to hold a referendum, to ask the voters where they wanted professional baseball to be played. Then the worthy idea was cast aside. Why?
Isn’t such a hot potato referendum, something that would get the politicians off the hook -- Boulevard or Shockoe Bottom? -- the best way to judge the righteousness of the Highwoods vision for Richmond?
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