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Originally Posted by OKTX
Has anyone heard anything new on this one? Starting to think there may be some truth to the rumor that Cielo sold the property.
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I'd be really surprised if Cielo sold it but then again, the site is very inactive. If I recall correctly, we first thought January demo, then March, then we were pretty certain it would be April 11th. I know these things don't happen overnight (I mean Austin Proper was supposed to break ground in November and that's also when 5th and West was supposed to go vertical. Oh and Hotel Zaza is just about done). Anyway, I don't see why the music venue would close right before a sale, unless some other development is being fast tracked. Why not allow tenant revenue to flow in if it's going to sit vacant.
Solely based on hearing the Cielo CEO speak in a candid setting, doesn't seem like the type of company that pulls a T. Stacy.