Push Begins to Unload 419K-SF Hobby Building

Texas Sen. Kirk Watson (D-Austin) and Rep. Gina Hinojosa (D-Austin) filed companion bills in the Legislature that would begin the process of auctioning off the 419,000-square-foot Hobby building in downtown Austin. The 35-year-old building at 333 Guadalupe St. needs $50 million for repair of run-down conditions. However, it is located on valuable land, according to local experts.

If approved and signed, the auction process would take place after local government entities were allowed the opportunity to buy it first. State law points out that, the Texas Facilities Commission, which oversees state-owned buildings, requires the Legislature’s approval to put a property up for sale, if the Legislature is in session at the time.

Additionally, it could be a year and a half before any sale takes place. Even after governor approval, the property would have to undergo assessments, while accommodations for nearly 1,400 state employees who work in the complex would have to be arranged.

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