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  #61  
Old Posted Nov 19, 2019, 2:27 AM
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He's in cahoots with Nate Paul. These guys are pretty arrogant & think they're above and too smart for the law. We'll see. Instead of storage units, these guys should have opened "laundry"-mats.
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  #62  
Old Posted Nov 24, 2019, 2:25 AM
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Well this is a fine how do you do.

In the best vaportower tradition:



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  #63  
Old Posted Nov 24, 2019, 2:36 AM
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...and almost 10 years from now this will be another "99 Trinity" dream with Paul finally in jail.
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AUSTIN (City): 974,447 +1.30% - '20-'22 | AUSTIN MSA (5 counties): 2,421,115 +6.03% - '20-'22
SAN ANTONIO (City): 1,472,909 +2.69% - '20-'22 | SAN ANTONIO MSA (8 counties): 2,655,342 +3.80% - '20-'22
AUS-SAT REGION (MSAs/13 counties): 5,076,457 +4.85% - '20-'22 | *SRC: US Census*
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  #64  
Old Posted Nov 24, 2019, 2:54 AM
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He should stick to playing Sim City and not waste our time.
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Things will be great when you're downtown.
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  #65  
Old Posted Nov 24, 2019, 3:59 AM
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Quote:
Originally Posted by We vs us View Post
Well this is a fine how do you do.

In the best vaportower tradition:



What's the link for that?
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  #66  
Old Posted Nov 24, 2019, 6:46 AM
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Yea so we can troll him and tell him he should just leave our city alone.

Downtown Austin is about to get more interesting huh? Funny cause he shut down some fun interesting places in DT which sit dead and empty today...

Drat have to follow him to see his feed. I'm not gonna bother requesting to follow when I'll just chew him out. Se la vie...
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  #67  
Old Posted Nov 24, 2019, 6:56 AM
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The Red River (Carmella's?) parcel is one of the properties involved in the early November bankruptcy filings. I don't know how old the post above might be. It says one day ago, but it is copied from some other site (not Facebook) and could be from years ago. Can anybody track it down?

https://www.statesman.com/business/2...for-bankruptcy
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  #68  
Old Posted Nov 24, 2019, 2:18 PM
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It was a LinkedIn post, bizarrely enough. I couldn’t find anything else on the web to back it up, but’s it was definitely posted within the last day or so.
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  #69  
Old Posted Nov 24, 2019, 4:04 PM
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Quote:
Originally Posted by The ATX View Post
What's the link for that?
I'm comforted by the thought that this is not likely to see the light of day in it's present form, but Brett Rhode needs to stop inflicting all the worst qualities of the Independent all over Downtown. I still don't know how they got away with the lack of proper screening of the parking required Downtown. Also, does the 'crown' remind you of anything?
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  #70  
Old Posted Nov 27, 2019, 5:09 PM
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Concerning the rendering...

Quote:
Rhode said he designed the rendering that Nate Paul of World Class Capital posted on LinkedIn about a new tower coming to Fifth and Red River Streets. Rhode said he was previously engaged by the Houston owner to build a highrise and after the Houston group sold to World Class Capital, Rhode: Partners was retained to do additional work.

“After he purchased the site, Nate Paul engaged us to do further studies in 2018, including an office study. The rendering he apparently sent out was one we did of one of the office schemes. That scheme was 32 stories,” Rhode wrote to me. “With the approval to demolish part of the existing buildings, the site is a very viable as a high-rise tower site, even though it has a capital view corridor crossing the east side of the parcel. We are still hoping to complete one of our designs for this great site.”
https://atxrealestatenews.com/
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  #71  
Old Posted Nov 27, 2019, 9:03 PM
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Quote:
Originally Posted by The ATX View Post
Concerning the rendering...



https://atxrealestatenews.com/
^^^A deep dive into the above link produced this:

Given Kiltz’s court statements, it’s hard to fathom why Nate Paul posted on LinkedIn over the weekend, that “an iconic tower is coming to downtown Austin at the corner of 5th and Red River. Over 600,000 square feet, spectacular views, and an irreplaceable location. Downtown Austin is about to get a lot more interesting.”

Really? The property is in Chapter 11 bankruptcy with multiple moving parts and hearings scheduled through the end of the year. If historical considerations and view corridors in fact regulate the site, then what Paul is touting is pie in the sky. I wonder where he found that rendering? C’mon, man.
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  #72  
Old Posted Dec 31, 2019, 5:53 PM
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Looks like WCCG rejected several offers for the 99 Trinity site. Including a $60 million offer for the 0.94 ac property by a San Francisco billionaire.

https://www.bizjournals.com/austin/n..._news_headline
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AUSTIN (City): 974,447 +1.30% - '20-'22 | AUSTIN MSA (5 counties): 2,421,115 +6.03% - '20-'22
SAN ANTONIO (City): 1,472,909 +2.69% - '20-'22 | SAN ANTONIO MSA (8 counties): 2,655,342 +3.80% - '20-'22
AUS-SAT REGION (MSAs/13 counties): 5,076,457 +4.85% - '20-'22 | *SRC: US Census*
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  #73  
Old Posted Dec 31, 2019, 6:05 PM
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Quote:
Originally Posted by GoldenBoot View Post
Looks like WCCG rejected several offers for the 99 Trinity site. Including a $60 million offer for the 0.94 ac property by a San Francisco billionaire.

https://www.bizjournals.com/austin/n..._news_headline
Yep. I’ve brought him a few offers for 99 over the years. He wouldn’t even give us a counter.
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  #74  
Old Posted Dec 31, 2019, 6:35 PM
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Originally Posted by urbancore View Post
Yep. I’ve brought him a few offers for 99 over the years. He wouldn’t even give us a counter.
It's super weird. Why buy and hold for so long in this city? With no discernable revenue stream to offset the crap ton of taxes you'll pay?

Choosing not to engage at all -- even with serious offers, even with obscenely high offers -- is deeply suspicious.
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  #75  
Old Posted Dec 31, 2019, 6:45 PM
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Quote:
Originally Posted by We vs us View Post
It's super weird. Why buy and hold for so long in this city? With no discernable revenue stream to offset the crap ton of taxes you'll pay?

Choosing not to engage at all -- even with serious offers, even with obscenely high offers -- is deeply suspicious.
Yep. This just adds more weirdness to what we've known...something fishy has been going on with WCC for quite some. I'm just waiting patiently to find out whether it's money laundering, a pyramid scheme, or what have you.
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  #76  
Old Posted Dec 31, 2019, 7:00 PM
urbancore urbancore is offline
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Quote:
Originally Posted by We vs us View Post
It's super weird. Why buy and hold for so long in this city? With no discernable revenue stream to offset the crap ton of taxes you'll pay?

Choosing not to engage at all -- even with serious offers, even with obscenely high offers -- is deeply suspicious.
Exactly. And I know him. We text each other a few times a year, and have broken bread a few times. I’ve even worked with him on deal on Manchaca back in 07.
I don’t get it. That said, I haven’t asked for obvious reasons.
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  #77  
Old Posted Jan 1, 2020, 4:26 PM
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Quote:
Originally Posted by GoldenBoot View Post
Looks like WCCG rejected several offers for the 99 Trinity site. Including a $60 million offer for the 0.94 ac property by a San Francisco billionaire.

https://www.bizjournals.com/austin/n..._news_headline
Interesting. That guy called me a bout a month ago looking for leads on Downtown properties in play. Not being a broker, all I felt I could suggest is that he contact a broker. He said, "Yes, I could do that, but I thought you might have other information". I thought about mentioning the WCC situation, but thought I should be careful about steering anybody that way. It looks like I didn't need to. That being said, I suspect he has a Silicon Valley client that is looking for an opportunity, otherwise he would just be entering a hot market on pure speculation. Smart developers with his track record would probably at least team up with a local developer that knows the landscape before jumping in on pure speculation.
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  #78  
Old Posted Jan 1, 2020, 4:37 PM
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Quote:
Originally Posted by GoldenBoot View Post
Looks like WCCG rejected several offers for the 99 Trinity site. Including a $60 million offer for the 0.94 ac property by a San Francisco billionaire.

https://www.bizjournals.com/austin/n..._news_headline

It would be incredibly awesome if Jay Paul developed something similar to their 181 Fremont tower in Austin!!!
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  #79  
Old Posted Jan 2, 2020, 9:44 PM
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It sounds like Paul is just a (property) hoarder and can't let go or develop it.
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  #80  
Old Posted Jan 14, 2020, 2:08 AM
paul78701 paul78701 is offline
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Paul-controlled entities win foreclosure reprieve, but told 'clock is ticking':
https://today.statesman.com/express/...an--13--2020/5
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