AUSTIN | 99 Trinity Tower | 467 FEET | 38 FLOORS | Proposed - Page 10

GoldenBoot · #**181** Posted **Jan 9, 2016, 10:17 PM**

This comes to absolutely no surprise to me. WCC does not have the wherewithal to develop such a project (on their own).

East7thStreet · #**182** Posted **Jan 21, 2016, 3:52 AM**

This was posted on craigslist today in the business section. Nate Paul soliciting investors for 99 Trinity......on craigslist?

https://austin.craigslist.org/bfs/5411858064.html

urbancore · #**183** Posted **Jan 21, 2016, 4:43 AM**

Quote:

Originally Posted by East7thStreet

This was posted on craigslist today in the business section. Nate Paul soliciting investors for 99 Trinity......on craigslist?

https://austin.craigslist.org/bfs/5411858064.html

WOW

i know Nate, this is weird. It shows a pic of the JW. mmmmmm....something is rotten in Denmark. I hope it isn't as it appears.

austlar1 · #**184** Posted **Jan 21, 2016, 5:41 AM**

Could it be that somebody is having some fun at the expense of young Nate? Hard to believe it is a real solicitation for investors.

drummer · #**185** Posted **Jan 21, 2016, 6:16 AM**

^ That's awesome. Maybe we can make a similar add on CapMetro's behalf to get more rail...

The ATX · #**186** Posted **Jan 21, 2016, 7:21 AM**

How do we know it's for 99 Trinity? It's not obvious to me. A Cesar Chavez multi-family development could be on the other side of I-35.

KevinFromTexas · #**187** Posted **Jan 21, 2016, 8:03 AM**

I don't know. My guess would be that it isn't real, and that someone is trolling him. And what the hell is an "angel investor"?

The ATX · #**188** Posted **Jan 21, 2016, 8:36 AM**

Quote:

Originally Posted by KevinFromTexas

I don't know. My guess would be that it isn't real, and that someone is trolling him. And what the hell is an "angel investor"?

It's a real thing, and the term is used a lot when talking about startups:

http://www.investopedia.com/terms/a/angelinvestor.asp

hookem · #**189** Posted **Jan 21, 2016, 5:59 PM**

It could be a small investment company hoping to buy a group of condos to rent out or flip in a new development. I thought I saw some similar email pitch related to another new building -- maybe 5th and West? They mention cap rate, which would be logical for an investment like that.

Angel investors are smaller individual investors, who usually use their own money, to help finance a company when it is just starting. Once a company gets bigger, it looks to larger financing deals from VC or institutional investors rather than individuals.

GoldenBoot · #**190** Posted **Mar 8, 2016, 10:38 PM**

I wonder if this project was one of said investments?!?

Naughty Nate/WCCG???

KevinFromTexas · #**191** Posted **May 22, 2019, 6:41 PM**

https://austin.towers.net/99-trinity...s-foreclosure/

Quote:

99 Trinity Site Faces Foreclosure

JAMES RAMBIN MAY 22, 201

It’s been six years since the announcement of a residential tower project at 99 Trinity Street in downtown Austin, but landowner WC 1st and Trinity LP has another problem on its hands besides the development’s seemingly complete lack of progress — an imminent threat of foreclosure by its lender.

freerover · #**192** Posted **May 22, 2019, 6:54 PM**

Quote:

Originally Posted by KevinFromTexas

https://austin.towers.net/99-trinity...s-foreclosure/

They were paying 360k in property taxes just to sit on this lot. I wonder if they were waiting for the same environmental changes that Waller Creek Place is waiting for from the tunnel installation?

The current tax value for the land is almost 17 million. I imagine it'll sell for much higher than that due to development potential. Right next to the blue line, Rainey, convention center etc.

The ATX · #**193** Posted **May 22, 2019, 8:28 PM**

Quote:

Originally Posted by KevinFromTexas

https://austin.towers.net/99-trinity...s-foreclosure/

There was a lot of dust on this thread. This is good news. Now maybe a developer instead of a speculator will grab hold of the site.

urbancore · #**194** Posted **May 22, 2019, 8:41 PM**

My trusted source says not to worry about this.

The ATX · #**195** Posted **May 22, 2019, 8:45 PM**

Quote:

Originally Posted by urbancore

My trusted source says not to worry about this.

You mean it's a done deal that Nate Paul is letting this go? If not, I'm worried about it.

txtriathlete · #**196** Posted **May 22, 2019, 8:49 PM**

Quote:

Originally Posted by The ATX

You mean it's a done deal that Nate Paul is letting this go? If not, I'm worried about it.

I'd love to see a reputable developer snatch this prime downtown site and turn it into a nice mixed-use project that will contribute to our booming skyline.

clubtokyo · #**197** Posted **May 22, 2019, 9:46 PM**

Oh please let developer build something world class on it! No pun inteneded!

Dream Sequence · #**198** Posted **May 22, 2019, 9:48 PM**

His 2209 South 1st location received a similar notice in March though I don't think that has been foreclosed on (still shows as owned by WC on tax rolls).

What was odd is the lender on that is a hard money/high interest rate type lender. Though I guess folks do that when they need to close quickly and regular banks take forever...

The ATX · #**199** Posted **May 31, 2019, 8:13 PM**

Of course...

Quote:

World Class staves off 99 Trinity foreclosure sale
Site was also subject of a recent lawsuit

By Paul Thompson – Assistant managing editor, Austin Business Journal
May 31, 2019, 2:46pm CDT
A scheduled foreclosure sale for a World Class-affiliated parcel at 99 Trinity St. in downtown Austin has been pulled just days before the property was set to be auctioned.

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

mumu · #**200** Posted **May 31, 2019, 11:20 PM**

No surprise. Why would they let it go when the county is appraising (taxing) the property at 50% below market valuation?

How do I get a deal like that?