$95M deal to purchase land round Austonian within the works



AUSTIN (Austin Business Journal) — A downtown Austin web site on the middle of a years-long lawsuit is on the verge of being bought for $95 million.

According to courtroom data, an organization known as Third and Congress Owner LLC has agreed to buy three downtown parcels owned by WC third and Congress LP — an entity owned by World Class Holdings, Nate Paul’s embattled actual property funding agency.

The deal can be for 53,920 sq. toes on two sides of The Austonian condominium tower, however that comparatively small area might maintain over 1 million sq. toes of towering workplace or residential area. The land is presently occupied by a floor car parking zone fronting Third Street and low-rise buildings on the nook of Colorado and Second streets. The deal nonetheless requires the approval of a Travis County choose. It’s unclear what Wildcat’s plans are for the location if the sale goes by; makes an attempt to achieve Wildcat for remark had been unsuccessful.

Read the complete story on the Austin Business Journal’s web site.

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