Fund Acquisitions

West Campus Land - Austin, TX

Longhorn Food Court

Property 610 W. MLK Blvd, 1901, 1903 and 1905 Rio Grande located in the West Campus Section of Austin, Texas.
Description An off-market assemblage of 4 separately owned parcels of Land located in the West Campus area of Austin Texas. It consists of approximately 28,000 sq. ft. of contiguous land area situated less than 4 blocks from the University of Texas Campus (“UT”), the second largest university in the United States. The property is located in the special zoning district covered by the University Neighborhood Overlay (“UNO”) guidelines which allow for both greater buildable height and density than would otherwise be permitted, thereby providing for a wide range of development possibilities.
Date Purchased June 12, 2008
Property

We believe the assemblage of the 4 parcels has added substantial value to this asset. Additionally, we intend on obtaining approved development plans which should further increase the value of the property. After carefully analyzing the market, construction costs, etc., we have engaged an architect to pursue constructing a 5 story building consisting of approximately 100,000 rentable sq. ft. It is anticipated that the building will consist of 100 – 150 residential units and approximately 12,500 square feet of ground level retail space, along with two levels of underground parking.

Longhorn Food Court

West Campus is dominated by the University of Texas (UT) and especially its football team, the Texas Longhorns. Due to the property’s close proximity to the football stadium (less than 4 blocks), to generate income until the start of construction, we have created a food court and have developed a site plan to accommodate 14 – 16 mobile vendors. Currently, we have signed license agreements with 8 vendors at average monthly rates in excess of $1,000 per vendor. Operations are planned to commence on September 1, 2010 with additional vendors to be phased in over the next 6 months.

Below is an excerpt from some of the press we have been receiving

Longhorn Food Court near UT Campus
The University of Texas Campus area is finally getting it’s own food trailer court… much like the grand-daddy trailer court that has been so popular on South Congress! Scheduled to open September 1st, the Longhorn Food Court will be located at the former site of Ivory Cleaners on Martin Luther King, Jr. Boulevard and Rio Grande. There will be room for 14 to 16 trailers with plenty of parking and covered seating. While the first eatery is scheduled to open on September 1, it is expected to take several months for a full cluster of dining trailers to be ready to vend their wares.

Duval Villa

Contact Info

Rolling Cash Equity Group
1430 Broadway - 14th floor
New York, N.Y. 10018
Tel: 646-519-8490
Fax: 646-519-8494
info@rollingcashequity.com