Chapter 14 - THE DEVELOPER
The developer returned.
Not as villain.
They wanted the workshop land because it sat near a growing commercial corridor.
Their plan:
Mixed-use offices.
Shops.
Apartments.
They would preserve the original brick workshop façade but demolish most production buildings.
Price:
$8.6 million.
Independent appraisal:
$8.2 to $9.1 million.
Fair.
My brother wanted to sell.
I wanted to keep the original workshop.
Deadlock.
Fifty-fifty.
Dad had probably designed the company structure without considering that two stubborn sons could freeze each other indefinitely.
Or perhaps he had.
The operating agreement contained mediation and buy-sell procedures.
We entered mediation.
My brother said:
“The building is inefficient.”
True.
“Repairs are expensive.”
True.
“Production belongs in the modern facility.”
Probably true.
Then:
“Dad’s old bench is not a business plan.”
Also true.
I hated him for being right.
I said:
“The land is worth more than the offer if rezoned.”
Possible.
“Historic restoration could create a showroom.”
Possible.
“We can lease part.”
Possible.
Not certainty.
Independent adviser modeled three options.
Sell everything.
Retain everything.
Sell part and preserve original workshop core.
The third produced slightly lower immediate cash but kept historic space and reduced renovation burden.
My brother rejected it initially.
I almost accused him of wanting to erase Dad.
Stopped.
That was emotion, not business evidence.
Instead:
“Why not?”
He answered:
“Because I spent my whole life watching Dad refuse good money because every piece of wood had a story.”
There it was.
He did not hate craftsmanship.
He hated what he believed craftsmanship cost.
Dad had praised my hands.
My brother’s numbers.
Then ignored the numbers whenever they argued with memory.
Old wounds.
Still not Romy’s burden.
We negotiated.
Developer agreed to buy 70% of the site for $6.4 million.
Company retained:
Original workshop.
Showroom.
Small courtyard.
One storage building.
Developer funded shared access improvements.
Not perfect.
Both brothers disliked something.
Excellent sign.
May you like
The transaction required unanimous approval.
This time, it had it.
