I am in favour of eminent domain because I consider land to be the wealth of everyone on earth (or at least within a country)because nobody produced it and thus nobody could, logically, have a better claim to it than anybody else.
But I do believe that eminent domain should serve only the real public interest, aka government projects, (usually streets or railroads), not private interests that somebody in government considers to be public interest for whatever reason.
I thus applaud this very ironic project and hope it succeeds.
