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Planned Austin condos go into Ch. 11

June 18, 2010 By pratfield

Hope remains for 1155 Barton Springs

The development arm behind a luxury condo complex planned for Barton Springs Road, across the street and about 200 feet west of the Palmer Events Center, filed for bankruptcy protection this month after its lender decided not to renew its loan.

Despite the setback, PPT Development LP principal Steffen Waltz said the $40 million development called 1155 Barton Springs is merely in hibernation, not dead.

PPT Development is seeking Chapter 11 protection, filed at the end of May, claiming its assets and debts each range from $1 million to $10 million, according to records that did not include a complete list of creditors.

The company’s largest creditor is San Antonio-based Overland Partners, the lead architect on the project, which is owed about $1 million, according to court records

Read more: Planned Austin condos go into Ch. 11 – Austin Business Journal

Filed Under: Austin Area News, Real Estate News, Real Estate Statistics, Texas Tagged With: Austin Real Estate News

Ratfield Real Estate LLC

6400 Lohman Ford
Lago Vista, TX 78645
Fax: 512-267-0623
Pamela Mobile: 512-663-2660
Office: 512-267-4261

Pamela Ratfield, e-Pro, GRI, ABR, CRS

Phone: 512-267-4261
pratfield@me.com

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About Ratfieldteam

Hello and thank you for visiting! It is our goal as your full service real estate company specializing in the Lago Vista, Round Rock, Cedar Park and all of the Austin areas, to provide you with superior service at all times. Our local expertise and extensive real estate experience will benefit you whether you are serious about buying or selling a home at this time, or are a returning client checking out the many homeowner resources we offer.
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