The two sides of a dispute over property rights on Music Row announced a compromise yesterday.
Metro Development and Housing Agency had looked to use eminent domain to seize Country Records International, at 23 Music Circle, to give to a private developer. Houston-based Lionstone group aims to build a hotel, offices, condos and stores there.
But property-owner Joy Ford steadfastly refused to sell, despite offers approaching a million dollars.
“You know, this is not about money, because I’ve been offered a lot of money for it… I set a precedent that you don’t just go and take people’s property with that eminent domain. It’s not used for that.”
Ford’s lawyers reached a compromise with Lionsgate in which she keeps her building but swaps some of her lot for adjacent land. MDHA isn’t involved, and no cash changes hands.
At one point in the dispute, Metro council members upset with this eminent domain case suggested legislation to give the council veto power over such moves.
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Scott Bullock, senior attorney for the Institute for Justice, which represented Ford, says she ultimately gained from the deal.
“Joy ended up with better property, more accessible property, and actually more property too.”
Bullock says Ford netted about 1500 square feet.