MILLIONS OF DOLLARS ARE AT STAKE ON THE ANSWER. AND WHAT DO Jay-Z AND BEYONCE HAVE TO DO WITH IT?
by Rick Boettger
Why are we making such a big deal out of Wisteria Island, the seemingly ugly stepsister to the elegantly-developed Sunset Key 500 yards away from it just off Mallory Square? Why should any of us give a damn whether anyone puts a 20-story hotel, or 55 homes, or anything else on their own private property?
In fact, this newspaper generally supports private property rights, and we believe there must be a clear-cut and essential public good served by any limitations on those rights. Otherwise, We The People can get sued for what is called a “taking” of someone’s legallyowned developmental rights.
Future articles will explore just how valuable the Wisteria rights could be. Right now, it is appraised at a mysteriously low $70,000, despite the recent sale of humble Howell Key off of Summerland for $1.2 million, and the rumored sale of the richly-developed Hopkins Key near Big Pine to—gasp!— rapper Jay-Z for $20 million as a birthday present for his wife, Beyonce.
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