Development is risky and complicated. It involves lots of decisions, and bad ones can be catastrophic. For megaprojects, everything is multiplied. They are enormously challenging even for the smartest and most experienced developers. The worst way to execute a megaproject would be to hand decision-making authority to more than two dozen people, each representing different constituencies with divergent and sometimes conflicting goals — and little or no real estate experience. To make it even harder, you would have politicians lead this 28-member group and require a two-thirds majority vote to approve a master plan. You would include three levels of […]

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