SMU to buy Mrs. Baird's Plant

[Dooby]

Originally posted by Cheesesteak:
Damon'sDaMan and others...

[b]"SMU has quietly acquired a lot of property around campus already."

What other property has SMU acquired around campus? Thanks in advance. [/b]

Somebody told me that SMU bought the UA Cine property, too.

BTW, the article says the tax value of the Plant is $7M. I bet SMU paid a lot more for it than that. What do you think the lot value of 6.6 acres in Highland Park is?

[abezontar]

I remember when we used to practice in Owenby my freshman year (band), when practice was right after dinner it was horrible because the smell always made me want to go stuff myself, and when practice was before dinner it was all I could do to keep from walking off the field to go eat. Man I miss that.

[MrMustang1965]

Originally posted by Dooby:

Originally posted by Cheesesteak:
[b] Damon'sDaMan and others...

[b]"SMU has quietly acquired a lot of property around campus already."

What other property has SMU acquired around campus? Thanks in advance. [/b]

Somebody told me that SMU bought the UA Cine property, too.

BTW, the article says the tax value of the Plant is $7M. I bet SMU paid a lot more for it than that. What do you think the lot value of 6.6 acres in Highland Park is? [/b]

BornRed&Blue: that's your cue! (she's in real estate in Big D and knows her stuff...she just this month SOLD both of my parents' houses! woo hoo! :w00t: )

[Eddie P]

SMU does own the old movie theatre and it's surrounding parking lots on Yale Blvd. I'm curious what they will do with that, as that particular piece of land is sandwiched between a few people who aren't selling anytime soon...

[Eddie P]

And although I don't know for certain, I think they may have tried to acquire the Coker Automotive facilities across the street from Jack's Pub right there on the Dart Rail line, also on Yale. At least, someone who we were bidding against for that property was willing to seriously overpay for it to the point that it became silly to continue...

<small>[ 11-21-2003, 11:20 AM: Message edited by: Eddie P ]</small>

[abezontar]

maybe they could work some kind of imminent domain kind of deal if they are thinking about using it for the library.

<small>[ 11-21-2003, 11:21 AM: Message edited by: abezontar ]</small>

[Eddie P]

Good idea, in theory. That might knock out someone small like Jack's Pub but I doubt it would fly against Radisson or against the Gaedeke Landers office building, considering how much real estate Gaedeke Landers owns in Dallas.

[abezontar]

Does anyone know the political affiliation of the person who runs Gaedeke Landers? If they are republican supporters, and they want to build the library there, I am sure they would be willing to compromise for the sake of their party leader's commerorative library.

[OldPony]

Ah Eddie P.- Anyone who beats you out of a bid must havw "seriously overpaid". That has always been one of OP's favorite standby's about the development business. OP's opinion----"Anyone who wins in a bid contest just paid more than market value because there is no one else who will pay that much".

[Stallion]

I don't think a private university would have the power to enforce an eminent domain proceeding. The whole basis for eminent domain is that the Governmental entity can't take private property without just compensation.

[abezontar]

Right, but I'm assuming (don't know if I am correctly) that the presidential libraries are paid for and maintained by the government. Also, what is considered just payment can very greatly from entity to entity and if one has connections to government office holders the value of any particular piece of property can be adjusted as needed, through legislation and government decree (again assumption, I don't what law actually dictates).

[Dooby]

Originally posted by abezontar:
Right, but I'm assuming (don't know if I am correctly) that the presidential libraries are paid for and maintained by the government. Also, what is considered just payment can very greatly from entity to entity and if one has connections to government office holders the value of any particular piece of property can be adjusted as needed, through legislation and government decree (again assumption, I don't what law actually dictates).

Presidential Libraries are built with private donations. They are, however, operated and maintained with federal money.

[Stallion]

...a condemnation proceeding is actually a trial with certain percisely perscribed interests subject to compensation-others that one might think are valuable attributes of a property are not compensatable. The right to just compensation stems from the Texas Constitution and other statutory law. Basically, its a trial of expert real estate appraisers giving their opinions on the fair market value of certain compensatable interests in the property.

<small>[ 11-21-2003, 12:54 PM: Message edited by: Stallion ]</small>

[Eddie P]

Stallion pretty much answered all the eminent domain/ condemnation questions.

As far as the political affiliation of the Gaedeke Landers company, well, I'll ask the next time I see a principal. However, they are a European(German) backed company. So take that for whatever it's worth regarding political persuasion.

Old Pony-

Good quote. However, when I said it got silly, I mean it really got silly. Sometimes it's better just to punt. You don't make money by throwing it away.

<small>[ 11-21-2003, 01:22 PM: Message edited by: Eddie P ]</small>

[mrydel]

In Little Rock they designated the Clinton Library as a Park so they could pay for it thru the Parks and Recreation Department funds. Guess it is worth it since we will get to see the Blue dress on display.