Also, the city of Austin's approval during the quarter of a development agreement for 1,273 acres in the Circle C development allows Stratus to proceed there. The development agreement allows 1 million sf of commercial space and 1,730 residential units.
"We plan to commence development activities at Circle C by the end of 2002 and we believe our future lots at Circle C will represent a good complement to our estate-sized lots in the Barton Creek community," says chief executive William Armstrong in a statement.
For the quarter, Stratus posted a loss of $100,000, or $0.89 per share, on revenue of $4.6 million.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
