{"id":3602,"date":"2025-10-14T21:26:46","date_gmt":"2025-10-14T21:26:46","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-tx\/3602\/"},"modified":"2025-10-14T21:26:46","modified_gmt":"2025-10-14T21:26:46","slug":"no-bidders-at-auction-for-one-shoreline-plaza-hope-of-redevelopment-remains","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-tx\/3602\/","title":{"rendered":"No bidders at auction for One Shoreline Plaza, hope of redevelopment remains"},"content":{"rendered":"

Local experts say the building\u2019s size, age and maintenance costs could be what\u2019s keeping buyers away.<\/p>\n

CORPUS CHRISTI, Texas \u2014 The foreclosure auction for One Shoreline Plaza, the twin towers that have defined the Corpus Christi skyline for decades, \u00a0ended Tuesday morning with no bids.\u00a0<\/p>\n

The towers, built in the 1980s, have faced mounting financial struggles in recent years. The failed auction leaves their future uncertain.<\/p>\n

\u201cI’ve seen proposals from architects who are thinking of transforming one portion of it to residential and one portion of it to office, but it’s really gonna need the right vision,\u201d said Will Storbeck, a commercial real estate agent with Keller Williams. \u201cBut I certainly think it would be more cost effective to keep the existing structure there rather than tear it down \u2014 and keep that part of Corpus Christi history too would be great to see.\u201d<\/p>\n

RELATED: Corpus Christi development project delayed as tariffs drive up construction costs across region<\/a><\/p>\n

Local real estate experts say the building\u2019s size and age could be what\u2019s keeping buyers away.<\/p>\n

\u201cSay you can afford to buy the building,\u201d said Matthew Cravey, owner and president of Cravey Real Estate Services. \u201cNow you’ve got to worry about not running into the same problems that subsequent owners had as finding tenants and then fixing all the problems that the building has. It’s got a lot of issues. It was built back in the 80s, and things will wear out.\u201d<\/p>\n

Cravey, who once managed leasing at One Shoreline Plaza, said there are still potential buyers, but only at the right price.<\/p>\n

\u201cI’ve got a group of buyers that are ready to buy the building for the right price, once they know what they’re buying,\u201d he said. \u201cBut they’re willing to take a chance on the building. I mean, it’s one thing that it has going for it over any office \u2014 it’s got location, and it’s an iconic design.\u201d<\/p>\n

James Magill, vice president at DH Realty Partners and a member of the Nueces County Appraisal District board, believes redeveloping the property could have a major ripple effect downtown.<\/p>\n

\u201cA development of this size in the location that it’s in downtown Corpus Christi could truly spur a catalytic impact not only for the downtown but the region,\u201d Magill said. \u201cBy inviting other developers and investors to come to Corpus Christi \u2014 seeing that we had a major success here \u2014 and that’s something I hope we can get behind as a city.\u201d<\/p>\n

For now, One Shoreline Plaza remains unsold, making it a microcosm of both the challenges and opportunities in the heart of Corpus Christi\u2019s downtown.<\/p>\n","protected":false},"excerpt":{"rendered":"Local experts say the building\u2019s size, age and maintenance costs could be what\u2019s keeping buyers away. CORPUS CHRISTI,…\n","protected":false},"author":2,"featured_media":3603,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[155,157,156],"class_list":["post-3602","post","type-post","status-publish","format-standard","has-post-thumbnail","category-corpus-christi","tag-corpus-christi","tag-corpus-christi-headlines","tag-corpus-christi-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/3602","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/comments?post=3602"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/3602\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media\/3603"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media?parent=3602"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/categories?post=3602"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/tags?post=3602"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}