All in the family: Austin American-Statesman sells propertyAll in the family: Austin American-Statesman sells propertyhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=115262015-12-16T06:00:00Z2015-12-16T17:00:00Z

AUSTIN - The Austin American-Statesman is selling its prime waterfront property to a family entity associated with Cox Enterprises, the privately held company that owns the Statesman, the company announced. ​

The 18.9-acre property is located on Lady Bird Lake at​ 305 S. Congress Ave.

Real estate experts say the transaction could put the site  in play for a large-scale, mixed-use development.

"It's pretty clear that, by selling it to family members, they are positioning the site for future development," said Victor Young, owner of Greenbelt Commercial LLC, an Austin-based commercial real estate firm.

​Cox Enterprises, based in Atlanta, has owned the American-Statesman since 1976 and will continue to own and operate the newspaper, its websites and other media businesses.

"The Statesman will remain a part of Cox Enterprises, is not for sale and will continue operating at this location," Statesman Publisher Susie Gray said in an email to employees. ​

Austin American-Statesman
Austin-Round Rock
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