Here’s what’s going to fill those empty Broadway lots near Pig Stand (San Antonio: insurance)

[elnina]

There are tons of developments and revitalization projects that will change the landscape of San Antonio.

Here are program presentations:

https://shopcompanies.com/properties/broadway-east-besa

https://www.mysanantonio.com/busines...t-18419875.php

https://sanantonioreport.org/san-ant...ojects-update/

[rynetwo]

Between that and the post I made in the other thread that area is gonna a lot more mature development wise.

[RadiantBaby]

A lot of this was first mentioned as far back as 2017.

GrayStreet has a habit of creating pretty renderings, but never actually building anything.

I remain suspect. Let's see if they actually have the money to do this.

[chud]

Interesting...

[Remington Steel]

Good.

[supfromthesite]

Word on the street is there is a HUGE development planned in the area that will involve tax payer dollars.

[RadiantBaby]

https://www.expressnews.com/business...s-18438571.php

Called it. This is what GrayStreet does.

Every. Single. Time.

Give them less and give Weston more. At least he has the capital to complete major projects.

[yadigggski]

Originally Posted by RadiantBaby

https://www.expressnews.com/business...s-18438571.php

Called it. This is what GrayStreet does.

Every. Single. Time.

Give them less and give Weston more. At least he has the capital to complete major projects.

Agree. It's a shame. Are they just in the business of flipping land? Makes no sense to me why they do what they do.

[RadiantBaby]

Originally Posted by yadigggski

Are they just in the business of flipping land?

Yes, and the tax-breaks that comes from buying the land and making promises with promotional material that never moves beyond renderings.

Like I've said before in other online places, I'd love to see someone do a deep dive on their finances and see where they're actually at. I have always said they don't have the bottom-line capital to see a project through on their own.

Their main mode of operation has been pretty straight-forward: They have likely made a nice profit on buying rundown parcels of land and just sitting on them for upwards of a decade while the neighborhood around them (hopefully) gentrifies. They then flip the land to people who can actually afford to build.

If the neighborhood doesn't improve, as was the case with Lone Star, they hope for the best... Like a massive fire that was absolutely able to be filed as an insurance claim.

While there's no legal way to stop them from these business practices, they should be discussed.

[resonator]

The sweetest deal is the way they avoid the annual local taxes. File papers to declare it a bird sanctuary. Promise to throw out some feed every week.