I've heard Renovo is looking for another site in FW, glad that we haven't completely run them off.
Lancaster Corridor... Magnolia... ITC (or "Metro Center") surface lots... Sundance Lot... if it were about 5-8 years into the future, Panther Island...
Along West 7th:
- replace Enterprise Rent-A-Car and surface lot behind it
- replace the strip mall on the Northeast corner of Univ. & 7th
- build on top of the old "Into the West" site... maybe keep half the building and incorporate it into the new hotel... make it a highrise of at least 15 floors.
- build on the abandoned "Backwoods" site, use that entire section of the property, build up to the sidewalk while having a stacked, multi-level parking garage base and ground floor retail
The county recently purchased a full block for $6.18M. ST mentioned this as being a competitive price for a DT block. A block is about 1 acre, so DT land is roughly $6M per acre. The land that could be reclaimed by removing or relocating ramps is 22 acres. Assuming this land is 1/3 the value of lots closer to the core, $4M per acre, the potential return on selling the all land is $88M, likely enough to repay the capital costs of moving the ramps.
Currently this 22 acres, owned mostly by TXdot, generates no revenue. A few blocks north of this site is the Henderson Apartments. They were constructed in 1998, a basic style common around dense areas. In 2017 the property had an appraised value of $29.5M, paying $696k in property taxes. The property is 3 acres, dividing out to $232k per acre. Assuming 75% (16.5 acres) of land under the ramps gets developed in similar fashion the potential yearly property tax revenue is $3.83M per year from the entire site. This is based on a 20 years old building. West 7th's property tax per acre is nearing $1M per acre, so those numbers could be higher.