Money is power, so Ted can just buy new city council people. Unfortunately it's too easy. Like $20k to a city council person and you own them for life. Also very easy for someone to get elected mayor, take the cash, and not run for re-election. People have no shame.
If it was that easy, the Old Dominion Boat Club would have been turned into a hotel years ago. As it stands, developers can’t even get their parking lot. Alexandria is a small city with strong anti development politics