Transit Agency Breaches Commercial Real Estate Contract


Commercial Real Estate ExpertThis case involves a real-estate development project near a new metro station. The metropolitan transit agency, which runs the metro rail system, controlled the real estate in question, because of its proximity to the metro station. The transit agency solicited bids, and in a competitive process awarded the deal to plaintiff, a boutique construction and facilities management firm. Within months, they had a binding term sheet that needed only to be reduced to a final joint development agreement. After two years of determined interference from the other defendants, the transit agency walked away. The plaintiff sued the transit agency for breach of contract and other defendants at the boutique management firm for tortious interference. The plaintiff alleged that the transit agency breached the implied covenant of good faith and fair dealing. Furthermore, the plaintiff alleged that the other defendants’ interference with their contract adversely impacted the plaintiff’s prospective business advantage.

Question(s) For Expert Witness

  • 1. Do you have experience with rail developments?
  • 2. Please explain your previous experience with financing based on various tax credits the project had received?

Expert Witness Response E-103490

I believe I am very qualified to review this case as I have extensive experience working on metro station redevelopment projects. During my work at the Deputy Mayor’s office, I coordinated closely with a metropolitan transit agency on several projects which involved developing and financing low-income house tax credit deals. My previous employer, a major urban real estate developer, owner, and investor, is considered one the premier affordable housing developers in the region. I have done many partnerships on both the private and public sides and I am familiar with the issues at hand.

RELATED EXPERT WITNESSES

Post Tags