AUSTIN | Project Updates Thread Part II - Page 290

the Genral · #**5781** Posted **Feb 22, 2019, 1:27 AM**

Quote:

Originally Posted by lzppjb

I love days like these when I log on and see a ton of threads have been updates. Austin is HOT!

Amen to that, but I can see two threads that I killed

zrx299 · #**5782** Posted **Feb 22, 2019, 2:57 AM**

Quote:

Originally Posted by the Genral

Amen to that, but I can see two threads that I killed

well, your avatar is kind of vertigo inducing

The ATX · #**5783** Posted **Feb 22, 2019, 4:07 AM**

Unless WeWork is going into the storage business, I don't think they have much to worry about from Nate Paul. He's shown himself to be all talk when it comes to anything other than storage.

We vs us · #**5784** Posted **Feb 22, 2019, 2:42 PM**

Quote:

Originally Posted by AusTxDevelopment

It appears the biz journal gets all their stories from Austin Towers and ATX Real Estate. ATX Real Estate had a blog post on this earlier:

https://atxrealestatenews.com/2019/02/20...legend-jamaal-charles-into-the-gameplan/

The blog entry has been updated since this morning, and they removed the following part (from a copy of the original blog post):

A friend of mine jokingly referred to this as Fyre Coworking with Nate as Billy McFarland and Jamaal Charles as Ja Rule.

This really is the crux of the issue, of course. If he decided to take on WeWork head to head -- and was forced to build out his vacant property to do it -- I'd be cool with it (despite my belief that the coworking boom is already overbuilt). But it looks like he's just rebranding his original business, and targeting "shorter term" leases and opportunities (whatever that means). That's a lose-lose for everyone, IMO.

StoOgE · #**5785** Posted **Feb 22, 2019, 4:02 PM**

Quote:

Originally Posted by The ATX

Unless WeWork is going into the storage business, I don't think they have much to worry about from Nate Paul. He's shown himself to be all talk when it comes to anything other than storage.

Wework filed a 5 year extension on the plan.

They may actually be Nate's competition.

austlar1 · #**5786** Posted **Feb 22, 2019, 6:58 PM**

I think Nate Paul's business model is to hold prime real estate for speculative purposes. His vast wealth resides mostly in the value of the land he holds, and supposedly he has become immensely rich in the process. Seems like creating flexible office spaces in otherwise semi-derelict buildings is similar in many ways to operating storage warehouses. He creates a revenue stream and various accounting/tax opportunities with a minimal outlay of cash. I don't think he has any real interest at present in becoming a major developer of his many holdings. Maybe one day he'll take the plunge, but his present method of doing business seems to be working very well for him.

Jdawgboy · #**5787** Posted **Feb 25, 2019, 3:41 AM**

I think he is the worst kind of "developer". He took out some fun nightspots which now sit empty not contributing to anything. I mean look how long some of these lots or buildings have been sitting with those stupid WCC banners. The only building that he seemed to improve and bring in some decent entertainment options is what was the old Spaggetti Warehouse.

Urbannizer · #**5788** Posted **Mar 4, 2019, 9:46 PM**

A page to keep an eye on for 9th and Nueces:

http://www.availdevelopment.com/9th-nueces

The ATX · #**5789** Posted **Mar 4, 2019, 9:59 PM**

Quote:

Originally Posted by Urbannizer

A page to keep an eye on for 9th and Nueces:

http://www.availdevelopment.com/9th-nueces

That is probably this long standing 9th & Nueces vision designed by Rhode Partners. It could go taller than the rendering with a density bonus.

AustinGoesVertical · #**5790** Posted **Mar 8, 2019, 6:00 PM**

Have some news. The School of Deaf on South Congress was just sold to a developer.

deerhoof · #**5791** Posted **Mar 8, 2019, 6:09 PM**

Quote:

Originally Posted by AustinGoesVertical

Have some news. The School of Deaf on South Congress was just sold to a developer.

Wow, that must have been expensive.

We vs us · #**5792** Posted **Mar 8, 2019, 7:00 PM**

Boy howdy. That's a huge move.

KevinFromTexas · #**5793** Posted **Mar 8, 2019, 7:08 PM**

Quote:

Originally Posted by AustinGoesVertical

Have some news. The School of Deaf on South Congress was just sold to a developer.

Hmm. I wonder what that will mean for the future of the school. Are we talking total redevelopment or only partial? I would assume if they bought it they're probably planning the former.

Few people realize, but the Texas School for the Deaf is one of the few ones in the country, and it's one of the best. It's also one of the top 20 oldest is in the country, founded in 1856. My brother's neighbors are all deaf. They moved here from out of state just so their kids could attend.

We vs us · #**5794** Posted **Mar 8, 2019, 7:13 PM**

Quote:

Originally Posted by KevinFromTexas

Hmm. I wonder what that will mean for the future of the school. Are we talking total redevelopment or only partial? I would assume if they bought it they're probably planning the former.

Few people realize, but the Texas School for the Deaf is one of the few ones in the country, and it's one of the best. It's also one of the top 20 oldest is in the country, founded in 1856. My brother's neighbors are all deaf. They moved here from out of state just so their kids could attend.

I did immediately wonder what that meant both for the school and for the historic campus. Which, I guess, I'm just assuming is historic.

There've got to be a lot of limitations to what can be developed.

paul78701 · #**5795** Posted **Mar 8, 2019, 7:46 PM**

Quote:

Originally Posted by We vs us

I did immediately wonder what that meant both for the school and for the historic campus. Which, I guess, I'm just assuming is historic.

There've got to be a lot of limitations to what can be developed.

One would imagine that the sale price was plenty high enough to allow them to rebuild the school elsewhere in the city.

AusTxDevelopment · #**5796** Posted **Mar 8, 2019, 8:08 PM**

Quote:

Originally Posted by AustinGoesVertical

Have some news. The School of Deaf on South Congress was just sold to a developer.

Must be really recent or not yet closed. The sale is not showing up in either the TCAD or Travis Co. Deed files yet. The Travis Deed site is current through 3/7/19.

AustinGoesVertical · #**5797** Posted **Mar 8, 2019, 8:34 PM**

Quote:

Originally Posted by AusTxDevelopment

Must be really recent or not yet closed. The sale is not showing up in either the TCAD or Travis Co. Deed files yet. The Travis Deed site is current through 3/7/19.

This is what I’ve heard through the grapevine, so it could be it hasn’t officially closed yet. But I was told a developer was buying it. I thought they meant it was done but maybe they meant “in the process” of buying it. I’m not comfortable saying what broker company it is, but it comes from a reliable place.

Dream Sequence · #**5798** Posted **Mar 8, 2019, 8:41 PM**

Doesn't the state own the land? I would imagine they'd have to go via a public RFP or something to sell it vs behind the scenes.

chinchaaa · #**5799** Posted **Mar 8, 2019, 8:56 PM**

Quote:

Originally Posted by AustinGoesVertical

Have some news. The School of Deaf on South Congress was just sold to a developer.

Not a fan of this news.

AustinGoesVertical · #**5800** Posted **Mar 8, 2019, 9:33 PM**

Quote:

Originally Posted by KevinFromTexas

Hmm. I wonder what that will mean for the future of the school. Are we talking total redevelopment or only partial? I would assume if they bought it they're probably planning the former.

Few people realize, but the Texas School for the Deaf is one of the few ones in the country, and it's one of the best. It's also one of the top 20 oldest is in the country, founded in 1856. My brother's neighbors are all deaf. They moved here from out of state just so their kids could attend.

Take it FWIW, but apparently part of the deal includes a contingency for a new state of the art facility to be built somewhere else and development on this specific site would be within 5 years, not necessarily immediate. I don’t know any other details.