Astroworld land selloff not going so well

Tuesday, November 29, 2005 1:05 PM
http://www.khou.com/news/local/stories/khou051128_ac_astroworld.1f30d044.html

A new article and video that local Ch11 just put together. Of particular interest, they're now claiming the land sell could "fetch as much as $70 million". If you'll remember, in September when Six Flags announced their intentions to sell the property through Cushman and Wakefield they expected to get between "$95 and $145 million" (http://www.chron.com/disp/story.mpl/topstory/3351145.html) .

It really looks like someone made a pretty bad miscalculation and the land is only going to sell for about half of what Six Flags wanted. Way to go Burke, you nit!

I've heard some talk that the land sell has actually already gone through to a subdivision developer, but nothing confirmed yet. We'll know soon enough...

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Tuesday, November 29, 2005 1:30 PM
Actually, it was various real estate folk who were throwing around the different numbers for which they thought the land could sell. In the earlier article you link to, the county development guy gives the price of a million per acre (a frickin' million per frickin' acre???).

Of course, anyone could offer to sell anything for any price. It's what the buyer decides to give you that determines the final worth.

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Tuesday, November 29, 2005 3:52 PM
In some areas of South Florida $1 million an acre would be considered a bargain.
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Tuesday, November 29, 2005 3:58 PM
Yeah, it's amazing that people pay so much only to convert it into giant concrete boxes and cheaply built housing.

Land is priceless, but land values are a joke.

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Tuesday, November 29, 2005 5:59 PM
That's a heck of a lot of burgers you have to fry to get your investment back. Or a lot of those ugly 3 million dollar houses that were shown on that TV station's website.
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Tuesday, November 29, 2005 7:40 PM
Well, yeah, see, part of the reason the land was so valuable was because it was so close to AstroWorld, and now that place has closed, so naturally the land value has dropped a bit. You know how it is in real estate, location, location, location...... :)

--Dave Althoff, Jr.

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Tuesday, November 29, 2005 8:19 PM
We drove around the area a few weeks ago and I wasn't impressed with the area. Drive past the property a block or two opposite of the dome, and it's nothing special!
Real Cbuzz quote of the day - "The classes i take in collage are so mor adcanced then u could imagen. Dont talk about my emglihs" - Adamforce
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Tuesday, November 29, 2005 8:24 PM
So will Snyder's takeover of SF put a stop to the sell off? I know it'd cost a bit to put the park back together but I'd like to see it happen.

Negative-G Amusement Parks and Rollercoasters: www.Negative-G.com

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Tuesday, November 29, 2005 8:47 PM
Don't put money on it...
Me? I'm dishonest, and a dishonest man you can always trust to be dishonest. Honestly. It's the honest ones you want to watch out for, because you can never predict when they're going to do something incredibly... stupid.
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Wednesday, November 30, 2005 12:22 AM
Maybe just "Astroland" with all that's been moved elsewhere. :)

But I would be surprised if it sticks around even with Snyder in control.


"Life's What You Make It, So Let's Make It Rock!"
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Wednesday, November 30, 2005 12:31 AM
Since the rides are already being exported I would say that is highly unprobable. Besides, St. Louis really needs Dungeon Drop. ;)
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