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Ballet Austin Pays $3.5M for CBD Ticket

AUSTIN-The arts group possibly won its bid for the 28,000-sf building because it intends to remodel rather than raze. Occupancy is a few years out since the plan is to rehab. For now, it will be more storage space.

By Tim Green | Updated on October 01, 2002

AUSTIN-Ballet Austin is buying the Aus-Tex Printing and Mailing Co. building in downtown Austin. The nonprofit organization will use the building, to be called the Dance Education Center, for offices, classes, rehearsal and performances.

The move adds another piece to a gathering arts district on the west side of the CBD. The Austin Museum of Art is to build on a city block next to the Aus-Tex building and the Long Center for the Performing Arts is set for a spot just across Town Lake.

While fund-raising for those facilities has slowed because of the slow economy, the downturn became an advantage for Ballet Austin. It paid $3.5 million for the 28,000-sf building, about $700,000 over its assessed market value as determined by the Travis Central Appraisal District.

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