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  #1  
Old Posted May 11, 2007, 5:54 PM
matttwentyeight matttwentyeight is offline
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Formerly Defunct Villaje de Rio to have a Hippo's Grocery

Just like the title of the thread says, the project formerly known as Villaje de Rio, is going to have a Hippo's Grocery store just like La Cascada! I was DT earlier this week and saw the sign from 281/37 when i was driving. This is a sure sign that the project is coming back to life and it won't be just an eyesore shell of a building! it also means that with these grocery stores (soon to be 2 of them) coming to DT, the residential units must be coming up quicker than thought!

i have a very intense feeling that there are gonna be some major announcements soon with all this activity coming in!
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  #2  
Old Posted May 11, 2007, 8:06 PM
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starvinggryphon starvinggryphon is offline
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There is also a grocery/market/deli on Main Plaza just FYI. It's relatively new, I think it opened in Jan.
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  #3  
Old Posted May 12, 2007, 4:19 AM
kornbread kornbread is offline
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Quote:
Originally Posted by matttwentyeight View Post
i have a very intense feeling that there are gonna be some major announcements soon with all this activity coming in!
Hell, if just the announced projects happen it will be major. Especially the Kress (27-28 stories) and Planet Hollywood (max 300') sites (and the rest of Houston street).

I like the fact that development is popping up on the edges of downtown (Sunset Station, Market Square/UTSA, River North and South Flores). These could turn out to be unique neighborhoods down the road. It certainly has the potential to really transform downtown.
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  #4  
Old Posted May 12, 2007, 4:29 AM
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sirkingwilliam sirkingwilliam is offline
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Seeing how Hippo's is a Loopy Limited store and Villaje de Rio is now owned by Cross and Co, could Hippo's be a brand Loopy is trying to expand? Maybe 3 or 4 scattered downtown and then maybe a larger scaled Hippo's?
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  #5  
Old Posted May 12, 2007, 1:31 PM
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sakyle04 sakyle04 is offline
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^ I think Hippo's is being set up to be a trusted DT grocer, but in a business as competitive as groceries, I don't think they'll be looking for anything larger scaled - nothing the size that would compete with HEB or Wal-mart...

On another note, Villaje Del Rio is really an exciting development again. That area of DT has a lot of room to grow. I can't wait to see what Lake/Flato have done with it.
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  #6  
Old Posted May 12, 2007, 1:52 PM
texboy texboy is offline
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ok honestly, I have no clue what Villaje Del Rio is or where it is. Can someone please post an article/renderings of this project?
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  #7  
Old Posted May 12, 2007, 2:05 PM
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Stalled Broadway project sold for $4.77 million at foreclosure

Web Posted: 08/01/2006 08:32 PM CDT

Rachel Stone
Express-News Business Writer

A creditor foreclosed Tuesday on a half-completed project on Broadway near the Interstate 35-Interstate 37 interchange, clearing the way for progress on its hulking concrete building shells.
Colina del Rio LP, a partnership among San Antonio developers Ed Cross, Paul Fagan, David Adelman and other investors, bought the Villaje del Rio property at 1215 Broadway for $4.77 million.

Colina, which was the original developer's creditor, used its lien against the property as a bid.

Last week, a bankruptcy judge denied a move by George Geis, the original developer of the project, to stave off the foreclosure.

Villaje del Rio was conceived by Geis as a mixed-used development of apartments and office and retail space.

Colina is planning to move forward with that concept, although a new design may incorporate more housing than the originally planned 253 apartments, said Adelman, vice president of Cross & Co.

The partnership is hiring David Lake of Lake/Flato Architects to assess and redesign the project. Colina hopes to start up construction in four to six months, putting an end to a stagnancy that's lasted almost two years.

"I want to say for the record that we hope we finish the project and that it's something that George (Geis) will be pleased with," Cross said.

"We recognize how much time and effort George has put into it."

Already, some real estate professionals are excited about the new activity on the stalled project.

"That's all such a shot in the arm," said real estate agent Steve Thurlow, who called the half-completed project "horrifying."

"I think that's just been a horrible entrance into downtown," he said. "It makes you think that something's wrong with our downtown."

Geis started construction on Villaje del Rio in 2003, but stopped a year later amid a dispute with his general contractor. Geis traded lawsuits with the contractor and defaulted on a $26.7 million loan from Deutsche Bank last year.

In December, Geis also sued the U.S. Department of Housing and Urban Development, which had insured the loan from Deutsche Bank and incurred the bad debt. In his suit, Geis claimed that HUD wrongfully took over management of the project.

He filed for Chapter 11 bankruptcy on the project in May in an attempt to prevent foreclosure.

Geis still has lawsuits pending against Colina, Deutsche Bank, Dallas-based general contractor Andres Holding Corp. and the project's bonding company.

And he's not done fighting.

Geis' bankruptcy lawyer, Eric J. Taube, said last week that Colina, which bought the debt from HUD, has no claim to the debt.

"We intend to vigorously pursue" the lawsuits, said Mark Taylor, Taube's partner. Taube was unavailable for comment Tuesday.

Colina's lawyers in the pending bankruptcy case declined to comment. It's likely that Colina will ask for the bankruptcy to be dismissed, said Rob Valdespino, a bankruptcy lawyer not affiliated with the case.

Geis was out of town Tuesday and didn't return a call to his office.

Though Geis did not attend the foreclosure auction on the Bexar County Courthouse steps, a friend did place a bid in a show of moral support.

Glenn Huddleston, who has attended several of Geis' bankruptcy hearings, had a losing bid Tuesday of $500,000.

"I know that George aspires for Broadway to be more than it is today. Clearly, this is a setback for him," Huddleston said.

rstone@express-news.net

http://www.mysanantonio.com/business...re.fbd926.html
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  #8  
Old Posted May 12, 2007, 10:02 PM
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Now that's some great news! It's about damn time.
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  #9  
Old Posted May 13, 2007, 12:48 AM
texboy texboy is offline
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badass...now I remember, its been so long since I had heard about this project, I just completely forgot about it!
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