The Ruins was a planned downtown luxury condo tower with a heliport that never materialized.
Now, Nexbank, which loaned money on the property at Peach Street and Lexington Avenue, has foreclosed on the developer, Fort Worth architect Ken Schaumburg, deed records show.Schaumburg, who began talking about the project in 2004, borrowed $1.6 million from Nexbank in March 2007. The foreclosure took place April 3.Schaumburg was behind several proposed condo projects at that time. The Ruins was going to be a $48 million, 23-story tower overlooking the Trinity River on downtown's western edge. Planned were 49 units, averaging about 3,500 square feet. Prices were going to run about $250 a square foot.The Ruins was based on postmodern architecture influenced by ancient Roman ruins and was a sister project to the Summit Ruins, a project Schaumburg had planned at Seventh Street and Summit Avenue years before.Medical district hotelThe long-awaited hotel in the Midtown development off Interstate 30 and Forest Park Boulevard has opened.The Hilton Garden Inn Fort Worth/Medical Center, 912 Northton St., was developed and is operated by Raymond Management Co.The 157-room hotel is just minutes from the city's medical district, including Plaza Medical Center, Cook Children's Medical Center, Texas Health Harris Methodist Hospital Fort Worth and Baylor All Saints Medical Center.Jim Rickards is the hotel's general manager.Former Goodyear store soldThe former 8,000-square-foot Goodyear automotive repair and tire shop at 400 E. South St. in Arlington has been sold.The sale included the 24,000-square-foot lot.The property was sold by Cribbs Investments to an entity called New Year Llc., which is registered to Fort Worth attorney Gregory Monroe, secretary of state's records show.Coy Garrett with Coy E. Garrett & Associates negotiated the deal.Transactions740-820 Green Oaks Blvd., ArlingtonNina's Z Room, a dance studio specializing in Zumba classes, has leased 5,369 square feet at Matlock Oaks Crossing. Steve Gray and Blake Shipp with the Weitzman Group represented the landlord.1521 N. Cooper St., ArlingtonCash America has leased 6,538 square feet of office space at Skymark Tower. Pat McDowell with Jones Lang LaSalle represented Cash America. Kurt Cherry and Brittany Ricketts with PM Realty Group represented the landlord, Arlington Owner Corp.Texas 114 and Kimball Avenue, SouthlakeSam 114-Kimball Commercial has bought 6 acres north of Texas 114 and east of Kimball Avenue for an office development. The property was sold by Morrison Supply Co. Mark Howe with Howe/Wood & Co., represented the seller. Don Phifer with Phifer & Associates represented the buyer.2815 W. Southlake Blvd., SouthlakeVikram Capital in Southlake has bought 2 acres south of Southlake Boulevard near the Watermere development for a possible medical-related project.The land was sold by Southlake Watermark Holding. Mark Howe with Howe/Wood & Co. negotiated the deal.Have more to add? News tip? Tell us
