Longtime speculation that the entire vacant 104-acre site formerly occupied by the AstroWorld amusement park might someday be turned into some sort of singular mixed-use development took a hit yesterday as the Houston Livestock Show and Rodeo announced it is buying the entire western half of the property, which sits across the 610 Loop from Reliant Park. The charitable organization hopes to close on the 48-acre tract by the end of the year. The purchase price is listed on its website as approximately $42.8 million, or $20.50 per sq. ft., “after charitable considerations by the seller.” That’s a Dallas investment firm known as the Mallick Group, which has owned the vacant property since 2010.
What will it rodeo do on all that land?
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Park a lot of cars. The rodeo fit 3,800 leased spaces on the property in the last few years of its once-a-year event. Rodeo board chairman Steve Stevens Jr. tells Houston Business Journal editor Greg Barr that other uses might develop over time — “or we could use it to free up space on the original (Reliant Park) footprint . . . That’s about as far as it goes.” The rodeo’s new land includes the pedestrian bridge linking the site to Reliant Park. “Even if we end up selling this as an investment,” CEO Leroy Shafer comments to abc13 reporter Christine Dobbyn, “we’ll control what can be put there and that’s very important when it’s our front door.”
- Houston Rodeo buys $42M chunk of Astroworld property [Houston Business Journal]
- Houston Livestock Show & Rodeo buying half of ex-Astroworld property [abc13]
- Houston rodeo buying part of AstroWorld site [Houston Chronicle]
- Show Officials Authorize 48-acre Purchase of Astroworld Land [Houston Livestock Show and Rodeo]
- AstroWorld coverage [Swamplot]
Photo: Day and a Dream