Austin, TX
STRATUS PROPERTIES : ANNOUNCES CONSTRUCTION FINANCING FOR THE SAINT GEORGE, A MULTI-FAMILY PROJECT IN NORTH-CENTRAL AUSTIN – Form 8-K | MarketScreener
STRATUS PROPERTIES INC. ANNOUNCES CONSTRUCTION FINANCING
FOR THE SAINT GEORGE,
A MULTI-FAMILY PROJECT IN NORTH-CENTRAL AUSTIN
Building Set to Begin Later this Month
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AUSTIN, TX, July 21, 2022 – Stratus Properties Inc. (NASDAQ: STRS) (“Stratus” or the “Firm”) right this moment introduced that it has accomplished development financing for the event of The Saint George, a 316-unit luxurious wrap-style multi-family challenge to be constructed in north-central Austin on Burnet Highway. The Saint George challenge is positioned inside minutes of the College of Texas, downtown employers, Apple Inc.’s new North Austin campus, the Q2 Stadium-home to Austin’s main league soccer crew Austin FC-and The Area, an upscale retail, workplace and residential heart with greater than 100 shops and eating places. Building is predicted to start later this month.
William H. Armstrong III, Chairman of the Board and Chief Govt Officer of Stratus, acknowledged, “We’re happy to announce that now we have obtained development financing for The Saint George, one other Stratus multi-family challenge, positioned within the quickly rising Burnet hall in north-central Austin. The Saint George might be a high-quality addition to our portfolio, in the end including worth to our leasing operations. After challenge stabilization, we look ahead to contemplating monetization alternatives for this property.” |
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The Saint George |
The challenge is owned by The Saint George Flats, L.P., a Texas restricted partnership and a Stratus subsidiary. The development financing consists of a four-year development mortgage from Comerica Financial institution to the restricted partnership within the quantity of $56.8 million, which is secured by the challenge. Stratus offered a completion warranty and twenty-five % compensation warranty, which might be eradicated as soon as the challenge meets specified circumstances. The remaining estimated challenge prices are being funded by fairness contributed to the restricted partnership by Stratus (10%) and an unrelated fairness investor (90%). Stratus can even earn growth charges and administration charges on the challenge.
Stratus at present expects to realize substantial completion of The Saint George by mid-2024. Facilities will embody a rooftop deck, health heart, resort pool, bike room and group workspaces. Stratus has entered right into a voluntary restrictive covenant to supply 10 % of complete items as reasonably priced items. The challenge might be constructed in keeping with Stratus’ sustainability, wellness and conservation targets.
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About Stratus Properties Inc.
Stratus is a diversified actual property firm engaged primarily within the acquisition, entitlement, growth, administration, leasing and sale of multi-family and single-family residential actual property properties and industrial properties within the Austin, Texas space and different choose markets in Texas.
Ahead-Wanting Statements
This press launch comprises forward-looking statements wherein Stratus discusses elements it believes might have an effect on its future efficiency. Ahead-looking statements are all statements apart from statements of historic reality. The phrases “anticipates,” “might,” “can,” “might,” “plans,” “believes,” “potential,” “doable,” “estimates,” “expects,” “initiatives,” “targets,” “intends,” “doubtless,” “will,” “ought to,” “to be” and any related expressions are supposed to establish these assertions as forward-looking statements. Stratus cautions readers that forward-looking statements are usually not ensures of future efficiency, and its precise outcomes might differ materially from these anticipated, anticipated, projected or assumed within the forward-looking statements. Necessary elements that may trigger Stratus’ precise outcomes to vary materially from these anticipated within the forward-looking statements embody, however are usually not restricted to, Stratus’ capacity to execute profitably on its growth plan for The Saint George, Stratus’ capacity to proceed to successfully develop and execute its methods, together with its capacity to develop, finance, assemble, lease and promote properties on its anticipated schedule and at costs its Board of Administrators considers acceptable, the outcomes of Stratus’ strategic planning course of, adjustments within the demand for actual property within the choose markets in Texas the place Stratus operates, adjustments in financial, market and enterprise circumstances together with current inflation and provide chain constraints, and different elements described in additional element underneath the heading “Danger Elements” in Stratus’ Annual Report on Type 10-Okay for the 12 months ended December 31, 2021, and Quarterly Report on Type 10-Q for the quarter ended March 31, 2022, every filed with the U.S. Securities and Trade Fee.
Traders are cautioned that most of the assumptions upon which Stratus’ forward-looking statements are based mostly are more likely to change after the date the forward-looking statements are made. Additional, Stratus might make adjustments to its enterprise plans that might have an effect on its outcomes. Stratus cautions traders that it undertakes no obligation to replace any forward-looking statements, which communicate solely as of the date made, however any adjustments in its assumptions, enterprise plans, precise expertise, or different adjustments.
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A duplicate of this launch is out there on Stratus’ web site, stratusproperties.com.
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Austin, TX
Where to recycle your Christmas tree in Texas
TEXAS — Once the holidays have passed, you are encouraged to give your natural Christmas tree another life by recycling it at any number of locations in Texas.
Most drop-off sites open on Dec. 26, but check with your city or county ahead of time to confirm.
There are typically guidelines for tree mulching and recycling. Check with your local recycling location for specifics, but the following rules, provided by Travis County, usually apply:
- Only natural trees are accepted (no plastic/artificial trees)
- Remove all ornaments, decorations, lights and tree stands (wooden blocks)
- Remove all nails, screws, staples, wire and metal
- Trees sprayed with flocking or artificial snow are not accepted
- Do not place the tree in a “tree bag” or any plastic bag
- Netting or rope wrapped around the tree is not accepted
- Trees taller than 6 feet must be cut in half
Here are some locations where you can recycle your tree in Texas. The list isn’t exhaustive, so check online with your city or county for a location near you.
- For recycling in Travis County, click here.
- For the Austin area, click here.
- For San Antonio, click here.
- For Dallas, click here.
- For Fort Worth, click here.
- For El Paso, click here.
Austin, TX
Texas A&M vs USC preview: Scouting report, predictions for Las Vegas Bowl
Texas A&M football: A closer look at next opponent, USC
Tony Catalina sits down with Trojans Wire’s Adam Bradford to talk Aggies-Trojans.
All that’s left in the season for Texas A&M football is the Las Vegas Bowl. With one game left, the Aggies head west to take on the USC Trojans for the first time since 1977.
Texas A&M (8-4, 5-3 SEC) dropped out of the US LBM Coaches Poll at the end of the season, while the Aggies’ next opponent is fighting to finish above .500. USC is 6-6 overall and is 11th in the Big Ten at 4-5.
BUY TICKETS TO TEXAS A&M VS USC
Will A&M take care of business in the final game of 2024? Can they send off Year 1 under head coach Mike Elko on a good note? How will the Aggies fare down three key defenders up front? Can Elko and the Aggies secure a nine-win season for the first time since 2020?
Here’s a full scouting report for the Texas A&M Aggies vs the USC Trojans:
Texas A&M vs USC in Las Vegal Bowl
When: 9:30 p.m. Friday.
Where: Allegiant Stadium in Las Vegas.
TV: ESPN.
Radio: 1370 AM in Austin; 1150 AM, 93.7 FM in College Station.
Line: Texas A&M is favored by 3½.
Weather: Allegiant Stadium is a dome, rendering the weather to be a nonfactor.
Texas A&M vs USC history
All-time: USC leads 3-0.
Last meeting: 47-28 USC win (1977).
Most memorable meeting: It hasn’t been an extensive history between the two programs, and it hasn’t been a joyous one for the Aggies either. The latest matchup came in the 1977 Bluebonnet Bowl, played annually in Houston.
The final meeting between the Aggies and Trojans was also the last time A&M played in the bowl game. A&M lost to USC, 47-28, aided by a then-bowl record four-touchdown pass performance from USC’s Rob Hertel. Trojans’ running back Dwight Ford broke a school record with 94 rushing yards.
Know the foe: USC
Last game: 49-35 loss to Notre Dame.
Players to watch: Thanks to increased player movement, it’s oftentimes hard to get a beat on who will and won’t play in non-playoff bowl games. However, looking at the Trojans’ offense, their passing attack was led by sophomore wide receivers Makai Lemon and Zachariah Branch. The duo have combined for 93 receptions, 1168 yards and four touchdowns. Branch is in the transfer portal and is not expected to suit up against the Aggies.
The Trojans started the year with Miller Moss at quarterback, but thanks to USC making a switch, sophomore Jayden Maiava is the starting quarterback now. He has made the last three starts for the Trojans, while Moss has entered the transfer portal, reportedly joining Louisville ahead of the 2025 season.
As a starter, Maiava has totaled 840 passing yards, seven touchdown passes and three interceptions.
Central Texas connections: The USC Trojans football team is a national brand, and with that comes an extensive reach on the recruiting trail. As a result, the Trojans’ roster has its fair share of Texas natives. In total, 11 players call the Lone Star State home, including junior tight end Lake McRee who is from Austin and played at Lake Travis.
When Texas A&M has the ball
It will be interesting to see how the Aggies handle the Las Vegas Bowl, with 19 players reportedly in the transfer portal and at least Nic Scourton already forgoing the bowl game for NFL aspirations.
What Aggies fans can expect to see is Marcel Reed getting plenty of work with him being viewed as the unquestioned starting quarterback heading into the new season for the first time.
Also, preseason-projected starting running back Rueben Owens made his first appearance against the Longhorns in Week 14 following a knee injury that made him unavailable for most of the year. It will be interesting to see if they once again give him game action to close out the year.
Look for the Aggies to work in young players such as freshman wide receiver Ashton Bethal-Roman who finished the year with four receptions, 44 yards and one touchdown in limited action as they head into next season.
When USC has the ball
The Trojans’ passing game is well-documented. They enter the game with the 10th-best passing attack in the nation, averaging 291.7 yards a game. Maiava will be looking for Makai Lemon for much of the evening, while Austin native Lake McRee is also a viable option.
Even with all the attention being paid to their passing game, senior running back Woody Marks tallied 1,133 rushing yards and nine rushing touchdowns this year, and will be a problem the Aggies will need to contend with as well.
Texas A&M vs USC key matchup
Aggies’ defensive backs vs Trojans’ receivers
A&M’s secondary will have its hands full with this Trojans passing attack, and it will be up to Will Lee III, Dezz Ricks and BJ Mayes to limit the big-play ability of USC’s passing attack.
While teams have had success running on the Aggies recently, the Trojans’ strength lies in the passing game, and A&M should be prepared for an aerial attack during the season finale.
Texas A&M vs USC predictions
Tony Catalina: It’s hard to get a beat on how these non-playoff games will go with all the changes and uncertainty. However, Mike Elko has a chance to get his ninth win of the season, and there is still enough talent in the program and coming back that I think A&M is able to find a way. Texas A&M 27, USC 20.
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Austin, TX
Texas Longhorns HC Steve Sarkisian Prasies Clemson Tigers QB Cade Klubnik
The Clemson Tigers weren’t able to pull of the massive upset against the Texas Longhorns in the first-round of the College Football Playoff, resulting in their season coming to an end.
It was a really solid 2024 campaign for the Tigers. They were able to win 10 games, the ACC Title, and made the newly expanded CFP.
However, going on the road against the Longhorns proved to be no easy task. While it was a 14-point loss, the argument could be made that Clemson exceeded some expectations, especially on the offensive side of the ball.
Texas has one of the best defenses in the country, and certainly one of the best secondaries. Throwing the ball on the Longhorns has been something that few players have had success at this season. However, Cade Klubnik and the passing offense of the Tigers had one of their best games of the season in the big moment.
In the loss, Klubnik totaled 336 passing yards, three passing touchdowns, and one interception. Considering Texas was allowing less than 200 yards per game through the air, this was an impressive showing.
After the game, Longhorns head coach Steve Sarkisian spoke very highly of Klubnik and what he was able to do against the Texas defense.
“I’m proud of Cade,” Sarkisian said via Clemson Insider. “I’ve known him for a long time, been recruiting him I feel like forever when he was in high school, and the fact that his career didn’t start off maybe the way he would have liked at Clemson, and there was a lot of expectations for him there, but to come out and have the season that he had this year for them, to get them to the playoffs, to be ACC champs, that’s a credit to him. He’s a very good football player.”
After a mediocre sophomore season, the Tigers quarterback took a massive leap in 2024. Overall, Klubnik finished with 3,639 passing yards, 36 passing touchdowns, and just six interceptions. While a lot of the attention goes to him throwing the ball, he was also able to rush for nearly 500 yards with seven scores.
The junior quarterback quickly became one of the best players at the position in the country, and was a massive part of why Clemson achieved as much as they did this season.
Now, the hope will be for the Tigers that Klubnik returns for his senior season. If he does, they will be entering 2025 with one of the best passing offenses in the country.
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