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October 24, 2008
San Diego's Bridge to Nowhere (from Nowhere)
How surreal is it in San Diego real estate right now? The city just broke ground on a footbridge downtown across a busy road and joining one luxury hotel to another luxury hotel plus the Petco Park baseball stadium. Trouble is, the cost of the bridge has ballooned, and one hotel hasn't been completed, and other hotel plan has been abandoned.
The upshot? We have a largely taxpayer-funded $26.8-million (up from $12.8-million) bridge all set to join two parking lots. Call it a bridge to nowhere, from nowhere.
[via SOSD]
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