The City of Westfield has released two property appraisals for the Grand Park Sports Campus.
According to city officials, these appraisals are to set the minimum price for property and improvements that will be considered by any qualified bidder responding to the Grand Park Sports Campus RFP by Aug. 8 with an offer to purchase or through a public-private partnership. The appraisals do not account for the business intangibles and other value created by Grand Park.
The minimum price for Grand Park is the average of the two appraisals, which is $85 million.
Westfield city officials say they look forward to that process unfolding through the committee structure implemented to allow an array of inputs from the city council representative to local business leaders and beyond.
- Click here to see the appraisal from Integra Realty Resources ($80 million).
- Click here to see the appraisal from Charles R. Mills ($90 million).