No wonder we're working so hard on the parking garage district. It's every pedestrians dream to be flanked by garages...
No wonder we're working so hard on the parking garage district. It's every pedestrians dream to be flanked by garages...
I've learned that Mr. Cotter has passed away recently and so the building will have to change hands, which is not to say anything will be managed differently.
It's been Cotter and Sons for some time now.
He has 3 sons who have probably been doing the large majority of running that business for quite some time; all are based in San Antonio.
I doubt much will change here. Unfortunately.
BTW, James Sr. bought a $3.2 million house that backs up to Lake Arcadia in 2012.
Never heard much about him so no idea if he actually spent any / much time there.
I rode up the elevator there last week to the petroleum club, and thought it might fall down halfway. Lotts of work to do.
So this little discussion has shaken free some new info...
It seems the 3 brothers are fighting with Cotter's widow (their mother) and the bank that holds the mortgage is threatening to intercede.
There are interested parties hoping for that so they have a shot at buying.
Sweetness
It's general lack of upkeep. In terms of the lighting, the building was lit not all that long ago but the lighting slowly went out and was never repaired. It's all indicative of ownership that is only interested in doing the bare minimum in terms of maintaining the building. I agree with sooner88 that the elevator is in bad shape.
^
Especially since they went to the trouble to fix and turn on the lights, only have to go out again and stay off.
The building management (not the owner) has changed I believe 3 times since Mr Cotter passed away. Been a bit of a nuisance as a tenant and each one seems to have gotten worse. The elevators are just one issue, but there's lots of little maintenance issues all through the building that I'd love to see fixed to improve the building. It would also be great if the windows got washed for once and the landscaping was improved in addition to the lighting.
My understanding is that Mrs. Cotter and the sons are fueding, to the point there has been legal action (or threat thereof) to keep the sons out of the building.
I also understand the bank that holds the mortgage is worried about the property and are starting to position themselves as well.
Things there are likely to get worse before they get better.
There is a probate fight ongoing among the sons and the relatively new wife now widow. As tenants, we were very afraid that the maintenance would further deteriorate. Recently, CBRE was brought into manage the building and they are already starting to remedy some of the deferred maintenance issues. The long time broken doors have been fixed and the common areas seem a bit cleaner. Still a lot to be done, but some improvement is better than the past.
Now if we can just get rid of the political photos and hideous faux Chinese planters in the lobby....
^
Thanks for the info.
My understanding is that Cotter's widow is living in the mansion next to Lake Arcadia.
The timing of his death, this thread revival, and the NewsOK article coming out is pretty interesting...
He died in January according to that article. I heard about his death at a downtown meeting on Wednesday and so posted it. I'm sure those much more in the know about things downtown were aware of his death for months.
^^^^^^
Yes.
I office in the building. I noticed this week that our security "cowboys" are now dressed in traditional, tasteful security uniforms, sans cowboy hats. Baby steps.
The lights in the plaza on the flags have also been repaired. One had been broken out for years.
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