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TMC3 Development Corporation, TX -- Moody's assigns Aa1 to TMC3 Development Corporation's (TX) 2020 lease revenue bonds (TAMUS); outlook stable

USE OF PROCEEDS

The proceeds will be used to construct, improve and equip the System's leasehold interest in the shared Collaborative Building on the TMC3 BioResearch Campus and to pay the costs of issuance.

Edited by Lux
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Texas Medical Center, TX -- Moody's assigns A1 to Texas Medical Center, TX's Series 2020 A&B; outlook stable


USE OF PROCEEDS

Proceeds from the Series 2020A bonds are expected to be used to pay a portion of the site development costs associated with the TMC3 campus and costs of issuance. Proceeds from the Series 2020B bonds will be used to pay TMC's share of a collaborative research building, underground parking including capitalized interest and costs of issuance.

 

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16 hours ago, HNathoo said:

So TMC is really just a giant parking company? 

 

On one of the pods, they mentioned they run the largest parking lot and the biggest transportation from a parking lot to the workplace in North America. This is supposed to curb some of that, I can't imagine that is sustainable for the type of growth they have in mind. Also, parking in/around the med center is/was getting expensive for alot of health practices and their employees.

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11 hours ago, Highrise Tower said:

State of The Texas Medical Center 2020 was held this week. This year was different than last, not many buildings to show off. More about COVID-19. There was a segment dedicated to the TMC3 which McKeon narrated. There were two interviews from and David Manfredi, and Mikyoung Kim.

 

This year's campus walk through. Baylor's medical school and research building look awesome. The hotel is bigger than I thought.  What is that in the back? wow!

 

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This is very very impressive. A real gem for our great metro area. Have they announced when digging is to begin? 

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A while back I made a thread in the transportation forum: Silly idea - realign red line to serve TMC 3

 

With this scale of development it's not right that the closest Red Line stop is between a half to 3/4 mile way away at Smith Lands. It wouldn't be that impossible IMO to shift the line over to Fannin for that brief stretch and then implement a station midway between OST and Braeswood (and spruce up one of the cross streets going east like St Agnes or Swanson into a pedestrian and bike friendly corridor). That would put all development in a comfortable quarter-mile walk from a future LRT station AND it would actually shorten the total length of the red line by several hundred feet.

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Wouldn't it be cheaper/easier to setup a circulator like the former greenlink downtown?  I'm not a fan of changing LRT routes for a single development(yes I know this one is Yuge).  One of the reasons developers love LRT is because they know it's fixed.  METRO has even said in their meetings that LRT is as much a public utility as it is a means to drive development.  If TMC wants to chip in some money to do this then I'd be more inclined for this change.

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  • The title was changed to TMC|3, Texas Medical Center BioResearch Campus
On 12/18/2020 at 6:04 PM, Highrise Tower said:

Today we have financially closed on the TMC3 Collaborative Building and Helix Gardens. Thank you to everyone who has put time, hard work & effort into this continued partnership to help bring this project to fruition.

 

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https://www.instagram.com/thetexasmedicalcenter/

 

!

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Minor news: The medical center has issued $35 million in bonds to help finance construction of the Collaborative Building. These bonds are based on Texas A&M Univ. Systems anticipated lease payments and will be used for TAMU's portion of the building. Happened a few weeks ago.

https://news.google.com/articles/CBMiVGh0dHBzOi8vZmluYW5jZS55YWhvby5jb20vbmV3cy90bWMzLWRldmVsb3BtZW50LWNvcnBvcmF0aW9uLXR4LW1vb2R5cy0yMjIwMTc2MTQuaHRtbNIBXGh0dHBzOi8vZmluYW5jZS55YWhvby5jb20vYW1waHRtbC9uZXdzL3RtYzMtZGV2ZWxvcG1lbnQtY29ycG9yYXRpb24tdHgtbW9vZHlzLTIyMjAxNzYxNC5odG1s?hl=en-US&gl=US&ceid=US%3Aen

Edited by H-Town Man
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More bonds sold: $66 million to cover development costs of TMC3 site and underground parking, $74 million for TMC's share in cost of Collaborative Building. Article says that TMC's parking revenue has fallen this year due to Covid but they've done a good job of balancing expenditures.

Edited by H-Town Man
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