Twice what the property is objectively worth in its current condition. Ethan glanced at the papers without opening the folder. That's very generous. It reflects Monarch's strong interest in developing this hillside. Reed replied smoothly.
I should mention that our assessment team has identified several code violations that will require immediate attention. The electrical system alone would cost upwards of 50,000 to bring up to modern standards. Is that a threat, Mr. Reed? Reed's expression hardens slightly.
Not at all. Simply information any responsible property owner would want to have. Riverdale may be a small town, but building codes are still enforced. I appreciate your concern, Ethan said cooly, but I know quite a bit about building codes and about historical property exemptions. Something flickered in Reed's eyes.
A momentary calculation, a reassessment. You've done your homework. I respect that. He gestured toward the house. May I come in?
I'd like to explain why this property means so much to Monarch's development plans. Reluctantly, Ethan stepped aside. Reed entered, his gaze sweeping the entry hall with the practiced assessment of someone who had studied the mansion many times before. "You've made progress cleaning up," he commented. "But I hope you realize what you're undertaking.
This place needs far more than cosmetic attention. I'm aware of the challenges," Ethan replied. "I'm a third generation builder. This kind of restoration is my specialty. " Reed nodded thoughtfully. Brooks Construction.
I looked into your background after our first meeting. Quite a respectable family business before the recession claimed it. His tone shifted, becoming more personal. We all face setbacks, Mr. Brooks.
The question is how we recover from them. Is that what this is about for you? Ethan asked. Recovery from a setback. Reed's eyes narrowed slightly.
What do you mean? Your father's legacy. William Grant built an empire, then lost it all. Is that why this property matters so much to you? To reclaim what you believe was taken from him?