Astroworld site bought for $77 million

The site where AstroWorld once was has been bought by Angel/McIver Interests, a Conroe real estate firm. According to the Chronicle, the new owner said the property will be a "mixed-use" development. No more plans for the property will be disclosed until the deal is finalized Wednesday.

Angel/McIver Interests has operated quietly for years, amassing 1,300 acres of land around Houston. This will be the firm's highest profile acquisition. Michael McIver, one of the company's principals, said: "I would hope the project would be something the city and the people of Houston would be proud of."

The site is a valuable 104 acres on the 610 Loop across from Reliant Park. Other developers, including gated community savant Vincent Kickerillo, competed for the property. Kickerillo offered $8 million more than Angel/McIver's final offer, wanting to build a "master-planned development with shops, apartments, townhomes and other uses". The deal foundered after Kickerillo wanted time to inspect the property. Good thing, too--"master-planned" is much less intriguing than "mixed-use."

Photo from flicker user Newscaster