I noticed a piece in the Monitor about the Alamo Draft House at the corner of Trenton and Jackcson Road. As you know it has been sitting partially completed for some time. (They did do some cleaning up of the area not long ago.) Apparently the builder is the same fellow that owns Frescos on North 10th. The name was mentioned but I don't recall. He is apparently a realtor. The article says he stopped construction on the draft house because he ran out of money. He is selling Frescos (maybe for money to complete the project?).

I was wondering if anyone had any more information. Some of the information in the article doesn't add up real well. Since this is inside the city of Edinburg, there is no telling!

From what I understand (it's more accurate to say 'from what I have heard'). He's in some legal trouble with the Drafthouse deal. Something about getting loans for that project and using it on others, which caused subs not to get paid, etc., etc.

I'm really hoping that the Alamo vibe of Austin will carry over to the one in McAllen, but I'll be willing to bet it's gonna just be another crappy Valley movie going experience.

Whoop coo ca choo

I hope that this project gets up and running again. I have been to a theater like this in Plano area and it was a lot of fun. Considering the size of the entire project, I am sure that it involves lots of money. It is hard to imagine the banks/financial folks allowing this to begin without the financing in place.

I think somewhere in some older threads we've talked about this project before. To say there are litigation issues is just scratching the surface of another new failed project in Edinburg.

I have their proposed rent rolls and marketing info, of what their project was going to look like and what tenants were supposed to be there. All of it doesn't matter now anyway, as those tenants did not have to do anything without the center being open and certainly without ADH as the anchor in limbo.

Without being too specific, the project has a debt of 8 figures, and they're still looking for several mil more to get it up and running. If you ask me, I know there are better ways to get value out of that kind of cash.

I keep wondering if the new Edinburg multi-story condo on the Expressway is going to go the same way. Seems like Edinburg likes to help fund these kind of projects with tax dollars. Oops, now I've done it!

Experience is a MF, isn't it oldvalleyrat.
You know what's coming, because you've seen it over and over, but those who pull the strings let the same old shjt happen anyway.

My favorite failed Edinburg project is the water park that was going to attract Mexican nationals.

...or the Edinburg Airport out near Hargill,
...or the Edinburg Baseball park,...and the water park, all built with city tax dollars.

The Edinburg City Council actually believes that the growth that the city is having is due to it's forward looking policies.

If the County Courthouse and their multimillion dollar payroll were moved to another city, Edinburg would look like Alamo, no slight meant to Alamo.

If Edinburg had never been the county seat it would probably be another Edcouch/Elsa.

I believe they're starting construction back up soon.

what makes you believe this???

They're negotiating with their third builder right now. I bet there's activity at the site later on this month.

I drive by the Draft House every day since it is near my house. I haven't noticed any activity, but I have my fingers crossed. I have gone to the one in the Plano area on a couple of occasions and thought it was a great idea.

Do you know who the primary contractor/architect is on the project? I noticed that there was some damage from Dolly and there has been some vandalism over the intervening months.

[This message has been edited by oldvalleyrat (edited 9/11/2008 10:19p).]

Article in the Monitor about the Alamo Draft House today. Looks like a real mess.

http://www.themonitor.com/articles/drafthouse_19293___article.html/edinburg_developer.html

I told you all so, this project has been a disaster from the beginning.

On top of all of that, ADH is out as of this past week. Whomever comes out as the new owner has to try to convince ADH to come back into the picture

When I drove by the partially completed Alamo Draft house yesterday, I saw stirrings of equipment. I think I saw three of four big pieces of equipment on the SW corner of the property and they seemed to be clearing ground.

I also saw an article in the last week about CVS Pharmacy. They were supposed to be part of the ADH development. They were saying that they were again looking for property to build on after other properties had fallen through.

Somone may just be building something on the corner. Given the fact that it is Edinburg, one never knows!

its a CVS - the firm I work for is doing the site planning.

Thats good. I hope that they are good. If so, I'll move my prescriptions to CVS from Walgreens. If will be so much closer.