SpaceX Boca Chica Property Acquisition

[alugobi]

They definitely didn't pay $15M, typical hearsay.

That kind of value definitely requires some verification.

Pretty disappointed in RGV for just tossing that out.

[ChrisIVA]

I recently became aware that someone I know inherited lots 172167 and 172168. I was also notified by a buyer, working for a client that they cannot disclose, that they are interested in buying the property. After a couple of calls I am aware that SpaceX has been paying the property taxes. Do the forum members have information or advice that might be useful on how I should handle this situation?

[ChrisIVA]

Nothing showing in the county records yet for November, but this screen shot from the latest WAI video show ground work on the two non-SpaceX double lots 172167,172168 on the South Bay near the lower left corner.

Edit - Add a slightly older late October image from RGV aerial Photography Flyover Update 22 for comparison.

Okie Steve, I recently became aware that someone close to me inherited these lots and that SpaceX has been paying the property taxes on them. Do you have any updates on them or other knowledge?

[pyromatter]

I recently became aware that someone I know inherited lots 172167 and 172168. I was also notified by a buyer, working for a client that they cannot disclose, that they are interested in buying the property. After a couple of calls I am aware that SpaceX has been paying the property taxes. Do the forum members have information or advice that might be useful on how I should handle this situation?

Looking on https://cameron.prodigycad.com

SpaceX own 172167, deed dated 2023-10-18

https://cameron.prodigycad.com/property-detail/172167

And no updates on 172168

[pyromatter]

Proposed land swap.

https://tpwd.texas.gov/business/feedback/meetings/2024/0125/agenda/item.phtml?item=9

Thank you for sharing that very interesting news. Something had been expected for a while, but I wasn't expecting it yet.

Images from TPWD showing the location of the two areas for the land swap, and also the lots SpaceX will acquire from TPWD. I find it interesting the land they are swapping it for is some distance away in Cameron County, not part of the same state park / wildlife refuge.

In regards to that land swap, SpaceX have acquired the land
https://cameron.prodigycad.com/property-detail/118348
https://cameron.prodigycad.com/property-detail/118356

[danneely]

I recently became aware that someone I know inherited lots 172167 and 172168. I was also notified by a buyer, working for a client that they cannot disclose, that they are interested in buying the property. After a couple of calls I am aware that SpaceX has been paying the property taxes. Do the forum members have information or advice that might be useful on how I should handle this situation?

Looking on https://cameron.prodigycad.com

SpaceX own 172167, deed dated 2023-10-18

https://cameron.prodigycad.com/property-detail/172167

And no updates on 172168

Elaborating on "no updates", the '168 lot only has a deed record from 1972; to someone not named in any of the records for the '167 lot.  The oldest record for that lot is from 1984 though, so I assume someone else owned it originally but the older record wasn't digitized for some reason.

To Chris,

From across the internet I have no idea how to reconcile what records your family member (?) had vs the ones involved in the sale to SpaceX.   If none of the names on it look familiar enough to give some insight there's probably not much that could be done without consulting a real estate attorney.

Assuming clear title for the other lot SpaceX would almost certainly be interested in buying it.  Due to lack of public infrastructure they're effectively the only entity able to develop the area.  I understand that they have been buying lots for around the value assessed by the tax office; and haven't heard that anything has changed since the book values started going up significantly a few years ago.

https://cameron.prodigycad.com/property-detail/172168

[RedArkady]

Interesting to see that they are finally clearing the corner of Emerson made up of plots 173062-4. I thought, and the Cameron County map still shows, 62-3 in private hands. Same with some of the other plots that seem to be being worked on on Jude St (though I see they're still working around the Leland Phillips plots on that street and on Emerson).

We could do with an updated control map, especially if the swap has now gone ahead!

[ChrisIVA]

I recently became aware that someone I know inherited lots 172167 and 172168. I was also notified by a buyer, working for a client that they cannot disclose, that they are interested in buying the property. After a couple of calls I am aware that SpaceX has been paying the property taxes. Do the forum members have information or advice that might be useful on how I should handle this situation?

Looking on https://cameron.prodigycad.com

SpaceX own 172167, deed dated 2023-10-18

https://cameron.prodigycad.com/property-detail/172167

And no updates on 172168

Elaborating on "no updates", the '168 lot only has a deed record from 1972; to someone not named in any of the records for the '167 lot.  The oldest record for that lot is from 1984 though, so I assume someone else owned it originally but the older record wasn't digitized for some reason.

To Chris,

From across the internet I have no idea how to reconcile what records your family member (?) had vs the ones involved in the sale to SpaceX.   If none of the names on it look familiar enough to give some insight there's probably not much that could be done without consulting a real estate attorney.

Assuming clear title for the other lot SpaceX would almost certainly be interested in buying it.  Due to lack of public infrastructure they're effectively the only entity able to develop the area.  I understand that they have been buying lots for around the value assessed by the tax office; and haven't heard that anything has changed since the book values started going up significantly a few years ago.

https://cameron.prodigycad.com/property-detail/172168

Thank you for the information. Perhaps I am confused on what the "prospective buyer" was telling us. I looked up the deed with our relatives name and the the legal address of the property on the warranty deed is LAGUNA MADRE BEACH SUBDIVISION LTS 27 & 28 BLK 88. Perhaps this is only lot 172168?

Also, appraised tax value seems to be about $25k listed on the assessors site. Is it your opinion that is what it is worth? Reading through the posts I saw some saw up to 3x appraised value. Thank you again for all the help as we are just trying to find out all the information we can at this point.

[Nomadd]

Also, appraised tax value seems to be about $25k listed on the assessors site. Is it your opinion that is what it is worth? Reading through the posts I saw some saw up to 3x appraised value. Thank you again for all the help as we are just trying to find out all the information we can at this point.

Appraisals and assessments are all over the place. There are a few key sites that got good money from the Collective, but they don't go too high on lots they don't really need. The three times appraisal price was for homes. They used their own appraiser and some of them were pretty insulting but they negotiated.
 The county came out with some truly insane appraisals a while back, but nobody took them too seriously. The only way you'll find out what the company will offer is to contact them. Your lot is in the middle of the village they're building and might get a good offer if the title is clean.

[ChrisC]

And just so Chris knows who the source is, Nomadd is a former property owner in Boca Chica village, and was our resident local guy here for years.  (Mary is also local but sticks to photography for NSF, typically not appearing in this forum.)

[danneely]

I recently became aware that someone I know inherited lots 172167 and 172168. I was also notified by a buyer, working for a client that they cannot disclose, that they are interested in buying the property. After a couple of calls I am aware that SpaceX has been paying the property taxes. Do the forum members have information or advice that might be useful on how I should handle this situation?

Looking on https://cameron.prodigycad.com

SpaceX own 172167, deed dated 2023-10-18

https://cameron.prodigycad.com/property-detail/172167

And no updates on 172168

Elaborating on "no updates", the '168 lot only has a deed record from 1972; to someone not named in any of the records for the '167 lot.  The oldest record for that lot is from 1984 though, so I assume someone else owned it originally but the older record wasn't digitized for some reason.

To Chris,

From across the internet I have no idea how to reconcile what records your family member (?) had vs the ones involved in the sale to SpaceX.   If none of the names on it look familiar enough to give some insight there's probably not much that could be done without consulting a real estate attorney.

Assuming clear title for the other lot SpaceX would almost certainly be interested in buying it.  Due to lack of public infrastructure they're effectively the only entity able to develop the area.  I understand that they have been buying lots for around the value assessed by the tax office; and haven't heard that anything has changed since the book values started going up significantly a few years ago.

https://cameron.prodigycad.com/property-detail/172168

Thank you for the information. Perhaps I am confused on what the "prospective buyer" was telling us. I looked up the deed with our relatives name and the the legal address of the property on the warranty deed is LAGUNA MADRE BEACH SUBDIVISION LTS 27 & 28 BLK 88. Perhaps this is only lot 172168?

Also, appraised tax value seems to be about $25k listed on the assessors site. Is it your opinion that is what it is worth? Reading through the posts I saw some saw up to 3x appraised value. Thank you again for all the help as we are just trying to find out all the information we can at this point.

That description is only the '168 lot.  The '167 lot is LAGUNA MADRE BEACH SUBDIVISION LOTS 25-26 BLK 88.

[RedArkady]

Could someone clarify where things are up to with the land swap with Texas Parks & Wildlife? I can't get my head around the documents recently posted upthread, and it looks like the TP&W discussion that was linked to was subsequently 'withdrawn', whatever that means...

[pyromatter]

Could someone clarify where things are up to with the land swap with Texas Parks & Wildlife? I can't get my head around the documents recently posted upthread, and it looks like the TP&W discussion that was linked to was subsequently 'withdrawn', whatever that means...

The initial one was withdrawn in that post.

However the TPW brought it back on the agenda and passed/approved it.

https://tpwd.texas.gov/newsmedia/releases/?req=20240304b

"AUSTIN— Texas Parks and Wildlife Commission today authorized Texas Parks and Wildlife Department (TPWD) to pursue acquisition of approximately 477 acres for a new state park in exchange for approximately 43 noncontiguous acres from Boca Chica State Park."

SpaceX have now acquired the 477 acres from Bahia Grande Holdings to enable the land swap of 43 acres.

The land swap hasn't happened yet or public filings haven't been posted yet.

Also during the land swap meeting, it was stated that lots of environmental reviews would be needed etc.
It wasn't clear if the environmental reviews needed to be done before the land swap was finalised.

[RedArkady]

Ah interesting.

Anyone care to speculate on what Space X are likely to do with the land? I'm assuming they'll develop the various plots in the village into housing. But I'm quite curious as to how close to the launch sight they are willing to get by extending the build site/village in that direction onto the big plots of newly-acquired land.

[seb21051]

I too would be interested to see how close the 43 acres are to their current holdings.

[RedArkady]

I too would be interested to see how close the 43 acres are to their current holdings.

Oh they're very close- google 'Space x land swap map'. They're interdispered with or otherwise adjacent to their current holdings at both the build site and the launch site.