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Old 06-08-2010, 09:29 AM
 
322 posts, read 748,693 times
Reputation: 204

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University Park building handed back to lender - Austin Business Journal

Quote:
The office building at the University Park development on the former Concordia campus is back in the lenders’ hands, according to state foreclosure listings and sources close to the project.
The building’s lenders, U.S. Bank and Texas Capital Bank, reportedly took back the property for $22 million at the foreclosure auction Tuesday at the Travis County Courthouse, a huge loss as the original construction loan was for $39 million.
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Old 06-08-2010, 11:56 AM
 
Location: Austin, TX
2,101 posts, read 4,526,049 times
Reputation: 2738
Sounds like yet another construction project victim of the recession.
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Old 04-10-2012, 12:55 PM
 
Location: Austin, TX
2,101 posts, read 4,526,049 times
Reputation: 2738
I had to revive this thread again because I've noticed construction vehicles on the former Concordia site lately. Does anyone know what's going on with the project?
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Old 04-10-2012, 03:47 PM
 
Location: Austin, TX/London, UK
709 posts, read 1,400,836 times
Reputation: 488
I believe apartments are going up.
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Old 04-10-2012, 03:51 PM
 
625 posts, read 1,133,651 times
Reputation: 250
Default University Park project

Some updates below. Don't expect that crater to disappear anytime soon!

Spear Street buys lone University Park office building

Business, Personal Finance, Technology, Employment news for Austin and Central Texas | Statesman.com (http://www.statesman.com/blogs/content/shared-gen/blogs/austin/realestate/entries/2010/03/11/the_developer_of_the_universit.html - broken link)

Lawsuit claims former Concordia University site has become an 'undeveloped wasteland'

Firm plans four Austin apartment complexes worth $200 million

current owners: Cypress Real Estate Advisors
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Old 07-07-2012, 09:45 AM
 
625 posts, read 1,133,651 times
Reputation: 250
Default Fraud charges

Update on the Concordia development, University Park.

Developers to plead guility to fraud charges related to stalled Concordia project

Explanation for that crater of ""undeveloped wasteland" overrun with rubbish and dying vegetation," you've noticed off the upper deck for several years.
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