Quote:
Originally Posted by corvairkeith
I think the Railyard Condos just North of the Whitley development have outlived their relevance I wouldn't be surprised if they are razed at some point in the future and something much taller were put in their place.
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Truth. Complicated since it's a condominium (ie. multiple owners)
I've had recent discussions with Railyard owners and they are updating their condo docs to facilitate this (looking way into the future) such that
one of the two Railyard buildings could enter into negotiation with the right developer with the right offer. Same with Villas on Town Lake, btw.
Only 80% of the HOA voting interest would need to vote to dissolve the HOA. At that point, those interested in selling to the developer will, and those that don't will end up moving out as governance and maintenance and services go away.
The developer would need to offer a significant premium to the owners over market price. It would be a messy process with likely lawsuits, but that's my simplified understanding of how it
could work...