[AustinYIMBY]

I think I read it in an article somewhere, but the area would be almost impossible to preserve as is, without significant improvements that would most likely destroy the current allure and character of the site. For the city to make it a park, they would need to make it accessible and add safety improvements all over. When it comes to developing a park, there are countless things that would need to be "fixed" to make this possible. If it were purchased by an organization, they would have to say they were constantly in the design process of redevelopment, because I can't see an insurance company insuring the property as is, with the official purpose being public space. I think it has survived for as long as it has is because the official (and approved) purpose was never a public space. It has just been on hold for redevelopment. And even at that, I think i remember the owner saying that one reason he is selling (other than the cost of owning a good chunk of vacant land downtown) is the constant fear of being sued if someone got hurt.
In the end, it is a really awesome place that grew up organically, but it was really never practical to think that it could be a permanent fixture. And I can't see the new location being anything like what the current location is. The location, views of the city, slight danger, and (at least feeling) of no rules makes the current site what it is. It would be like demolishing the Hike and Bike trail and replacing it with a paved circular trail of the same exact length, plopping it in Pflugerville and expecting the same amount of people to use it everyday. Except the trail scenario would definitely get more use than the new Hope Gallery...