Quote:
Originally Posted by StoOgE
I think the "best case" scenario we have for Pickle is that they sell parcels fronting the major roads for VMUs. This is also what I want the school for the deaf to do incidentally.
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Yeah this pretty much seems like the only thing we can really hope for, and even this is an extreme longshot. UT is a poor steward of land from anything other than a status quo perspective.
For example, UT owns "The Crescent" shopping center at Airport/Lamar. It is currently pretty busy after having sat mostly vacant for what felt like a few decades, so it's not a total loss. A developer had approached UT about purchasing or getting a long-term lease on the shopping center to completely redevelop it into mixed use with office, retail, and residential. UT did not want to do a long-term lease or sell. The retail center is extremely dated, with sidewalks and parking lots in poor shape. However from UT's perspective it's a win because it's almost fully leased and they still retained control.
They have so much money that they have zero need to redevelop Pickle. If they do anything, I would think they would move forward on the unused land across MoPac along Stonelake and Braker instead of Pickle. However I fully expect that both properties will sit undeveloped for many more decades.