|
|
|
|
My "HSB Beacon" Articles.
Last Updated: 02/24/2007 HSB: Historical Accounts & Thoughts on Its Future Growth. 8) HSB’s NEW MOMENTUM – Part 2: 9/7/06. 12) RELOOKING AT THE SEDONA-HSB COMPARISON: 10/5/06. 14) CRUDE OIL PRICE WATCH: 12/14/06. 16) BASED ON FORTUNE'S FINDINGS, HSB AIN’T SEEN NOTHING YET! 12/28/06. 17) LOOKING BACK TO 1/1/86: HSB Ranked with America's Most Elite. 1/4/07. 18) WHY HSB’s SETTING IS ESPECIALLY SPECIAL: A Perfect Collection of Extraordinary 19) ESCONDIDO: A MAGNIFICENT ADDITION TO HSB! 1/18/07. 20) OIL PRICES DROP BELOW $50 PER BARREL. What's Up? 1/25/07. 22) HSB FACTS EVERYONE SHOULD KNOW - (Part 1). 3/22/07. 23) HSB FACTS EVERYONE SHOULD KNOW - (Part 2). 3/29/07. 24) WON’T YOU HE'P ME? – 5/3/07. 25) HSB RESORT SIGNS #1 PICK: G. Michael Thomas. 5/10-07. 26) MARBLE FALLS' MAIN STREET – from lemon to Lemonade! 5/17/07. 19) ESCONDIDO: A MAGNIFICENT ADDITION TO HSB! It welcomed in 2007 already 77% sold out. The ranch was located on RR 2147 between HSB Proper and HSB West and was bounded on the north by Lake LBJ and Pecan Creek. It set atop rolling terrain with granite outcroppings, a spring fed creek that flowed year around, and featured centuries-old Live Oak trees. Wayne knew the rectangular-shaped tract was one of the most prized undeveloped properties in the northern Hill Country – the Hill Country's prettiest, most colorful, most interesting, and most valuable portion. He had held the property for several years while awaiting a real estate Rebound – certain HSB would fully recover from the doldrums that began in 1986. He was equally certain the rebound would attract someone with Five-Star plans, and with the capacity to carry them out. Brady convinced Wayne he was the guy and Wayne sold him the ranch on May 28, 2004. Brady had seen enough of the Hill Country to be confident the Ranch was his destiny – believing it was the best possible site for his dream project in all the Texas. He was drawn to the Ranch by its location on America's lake of choice and by it being in such close proximity - like dead center – to an already established, exceptionally high-end community such as HSB. He broke ground on his grand project immediately thereafter, and would call it Escondido. We know Brady today as Escondido’s Founder, Developer, and General Partner. Escondido’s Limited Partners are Terry Horton and his son Trent. The three men make up an extraordinarily effective and well-funded team. Prior to becoming involved at Escondido, Terry Horton established himself as part of the executive team at D.R. Horton Homes, the nation's largest home-builder. It is a Fortune-500 company, builds in 27 states, and is Texas-based. Brady and the Hortons look to establish themselves firmly among America’s top developers of premier golf course communities by pointing to Escondido – which they see as their flagship. They expect it to be the first of many such up-scale developments the group plans to create, both inside and outside the bounds of Texas. With that long-term objective in mind, Brady had truly great plans for the ranch. In fact, his stated goal from was to build "Texas' premier luxury community where the private club lifestyle and unprecedented level of concierge service will create a prestigious enclave in the heart of the Texas Hill Country." It would feature lakeside living, championship golf and fine dining of the highest quality, all as if the community were rooted deep in the midst of Tuscany. Today, less than three years later, he has essentially pulled it off, even though his masterpiece is not quite complete. Although much was accomplished during 2006 - the development's fabulous perimeter Rock Wall was completed, as were its Main Entry and Gatehouse, its Fazio Golf Course and Comfort Stations, its Roadways and other Infrastructure, and its La Hacienda Practice Facility – two pieces were still missing, the "Lake Club" and the "Clubhouse." Nevertheless, it was absolutely clear that Escondido is on tract to be among the country’s finest private golfing retreats. It will be a fabulous addition to HSB. The Lake Club, which will open this summer, is being built on Escondido's Lake LBJ waterfront. It will feature a cabana with bar and grill, a swimming pool and hot tub, and a well-appointed party pavilion for gatherings and cook-outs. It will also be home to about 30 courtesy Day Docks for residents not living on the lake and home to Escondido's Rod and Canoe Club, providing Escondido Members with complimentary bait, tackle, and canoes - daily. Construction of Escondido's Clubhouse - approximately 30,000 square feet in size,
including a 6,000-foot Cart Barn in its basement - will begin this summer. Brady The clubhouse will be home to a spectacular resort pool with Olympic-like lap lanes, clay tennis courts, a well-equipped fitness center, a sumptuous spa, richly-appointed locker rooms, a lounge, grill and multiple dining areas, indoors and out. The PGA Tour recognizes the clubhouse at Castle Pines - located in the Rocky Mountain’s foothills just south of Denver - as being the Tour’s overall finest, featuring a magnificent men’s locker room and lounge widely recognized as the country’s best. Brady expects Escondido’s Clubhouse to be its equal, and actually has hopes it might surpass it. The Clubhouse will also feature finer dining/cuisine than available anywhere else among PGA-associated facilities in the nation. Wow, how’s that you say? Well, one way to insure that is to hire the executive chef who won the PGA Tour’s Annual Award for serving the Tour's Best Food several years running. And, you guessed it again! Brady just got the guy - Executive Chef Marco Arguellas. Not satisfied in just having the best Country Club Chef in America, Brady went one step further and hired Andrew Weissman, Owner and Executive Chef of San Antonio’s "Restaurant Le Reve" – ranked by the prestigious Gayot Survey in its "Annual Review of America’s Restaurants" as Best in Texas for the past three years. He will be a consultant to Escondido's kitchen, advising on food preparation and menus. The two chefs had their first chance to perform on the night of January 12th, working out of Escondido’s La Hacienda's grill – which though well equipped, has nothing compared with what the chefs will be working with after the Clubhouse kitchen opens. Nevertheless, they blew out the crowd on their initial try, delivering several courses the guests found to be among the best tasting and most nicely prepared they'd ever encountered. If they can be that good on their first try, Escondido's dining appears on tract to be an exceptional treat, to say the least. Escondido's La Hacienda, recently completed, is a spectacular golf practice and training facility. The facility was intended to be among the country's best and has seemingly made the grade. Built to make one believe it has sat where it is for centuries while evoking Tuscany at every turn, it is no doubt among the country's finest. It serves those using Escondido’s driving range, short-game practice area and putting green. It’s also there to accommodate those looking to get serious about improving their golfing fundamentals by housing state-of-the-art training facilities, including a 600 square foot indoor Hitting Bay with doors 15-feet wide that open onto the driving range. The Hitting Bay contains a V-1 Video Swing Analysis System that features a Computerized Monitoring Package incorporating four cameras. It also has a Vector Launch Monitor for fitting golf clubs. In addition, La Hacienda features a bistro-style grill, a well-stocked bar and additional lockers. It also contains a doubly private, "members only" cigar room called El Corazon. This quaint room is for cigar smoking, card playing and watching sporting events on its 50" flat screen HDTV. And to make certain the cigars are well cared for, El Corazon contains 54 "cigar lockers," 40 of which have been committed out on one-time membership fees of $3,500. Escondido's homes are another matter deserving notice. They are being built following the strictest of architectural controls to assure that Escondido connotes the "warmth and harmony of the Tuscan countryside, invigorated with a little Texas maverick spirit. They will exemplify the rustic luxury seen in the great country houses of Provence, Spain and Tuscany." Considering that some 350 lots are platted for development at Escondido, its Tuscany feeling will grow all the more authentic as the community is built out. More than a dozen homes are at or nearing completion and they are indeed delivering the Tuscany feeling, attesting to the merit and success of Escondido's architectural controls. Regarding golf, Brady brought in one of the golfing world’s foremost golf course architects - Tom Fazio - to build Escondido's course. It was up and fully playable by this past spring, all in less than two years. PGA Pro J. L. Lewis, formerly of HSB, says it is destined to be one of Fazio's best – being the talk on the Tour. Fazio tells locals a large budget is the main ingredient required to produce a great course. He says he had that budget at Escondido. PGA Pro Fred Funk will represent Escondido on the Tour and plans to call Escondido his home. Escondido’s Director of Golf is Bruce Cotton. He came to Escondido having served most recently as Director of Golf for the Bent Tree Country Club in Dallas and the Wichita Falls Country Club, both being high-end private clubs like Escondido. Escondido’s Golf Course Superintendent is Scott Hamilton. He came from The Woodlands, located outside Houston. The Woodlands has two outstanding public-accessible courses – one 4-1/2-Star and one 4-Star. Escondido's fairways are sodded with Zeon Zoysia – a new variety. Escondido is one of only two courses in Texas now using it. The first cut of rough is sodded with Jammer Zoysia, which has a healthy, thicker blade. The second cut is sprigged Buffalo Grass - a heat resistant, low-maintenance grass. A full collection of seasonal Texas wildflowers are mixed within the Buffalo. The bunkers at Escondido are sodded with Vijay Zoysia and the tee boxes are in Emerald Bermuda - the same grass used on Wimbledon's grass tennis courts. The Greens feature the A1-A4-G6 variety of Bent Grass, which is like that used at Augusta. They are underlain with an underground, air-movement system. Escondido's infrastructure is not only substantially built out, the development itself is in many respects practically sold out. Only 23% of its 350 lots remained available as of the end of 2006. Listed below is a summary of where Escondido’s sales effort stood at the end of 2006. Positioned elsewhere of this page is a MAP OF ESCONDIDO showing the development’s layout. ESTATE LOTS (220 Platted): Almost all of Escondido's Estate lots, which are about 1/2-acre in size, are located on either the golf course or the Pecan Creek arm of Lake LBJ. By year-end 2006, approximately 160 Estate Lots had been sold. A large majority of the 60 or so remaining were part of Escondido’s most recent and final release. Most of the remaining lots are golf course located along the east side of #9 fairway and the south side of #14. A few are available as re-sales. Prices along #9 range from $485,000 to $750,000 while prices along #14 range from $310,000 to $385,000. Estate lots located on the navigable portion of the Pecan Creek arm of Lake LBJ are priced from $675,000 to $1,210,000. Eight of these remained available as of year end, 2006. Estate lots located on the non-navigable portion of Pecan Creek are priced around $615,000. About six of these remain available. Escondido's first 75 buyers - its Founders - got a membership valued at $60,000 free of cost, plus got to make great buys golf course lots for around $250,000 per. Many of these lots have since doubled in value, if not more. The Founders' Program was restricted to Estate lots located on Escondido’s back nine, which occupies the development’s south half. The north half was totally undeveloped at the time. This Program had completely sold out by the end of 2004. VILLA LOTS (63 Platted): The 63 Villa lots, averaging a little more than 1/3rd acre in size, were not put on the market until the spring of 2005. All located in the development’s southwestern corner - separated from the lakefront and the golf course. The Villa lots sold out in about three months. Five re-sales were available at year-end, priced from $245,000 to $275,000 – up 20 to 30 percent. CASITAS (67): Escondido released 13 of its Casita lots this past Labor Day. They went fast, and 44 more went on sale November 18, 2006. All are located in close proximity to the Club House and have either spectacular golf views or gorgeous nature settings, if not both. Only four were left at year end. Prices range from $215,000 to $310,000. Ten are being held back for future development. Brady’s other local real estate project is known as Lago Escondido - a sister residential development. Lago’s lot owners have full privileges to the amenities located at Lago Escondido is a 27-acre, 37-lot development located in HSB West. It occupies the huge granite knob that juts into Lake LBJ immediately upstream from Applehead Island and is accessed from Apache Tears. Twenty-four of the 37 are on LBJ’s lakefront. All but six have the preferred eastern exposure. Here’s where the sales effort of Escondido’s sister development stood at the end of 2006. LAGO ESCONDIDO’s LAKEFRONT LOTS (24): These 24 half-acre lots didn’t go on the market until Memorial Day, yet all but six were committed by year end at prices as high as $2,200,000. Prices for the remaining six range from $1,600,000 to $1,900,000, up about 10 percent since the initial offering. LAGO ESCONDIDO’s VIEW LOTS (13): Eight of the 13 remain available, priced from $405,000 to $835,000. Considering that both developments have equal rights to Escondido’s amenities, Escondido’s collective membership will total approximately 500 members. Currently sixty percent are from outside HSB, though most are Texans. The 60/40 percentage will likely reverse over the next five years or so as many will move here full time. A surprising number are from outside the state, reflecting the national attention the developments have garnered. In conclusion, look for Escondido’s course to be rated as one of America’s finest new courses when the development holds its Grand Opening in a couple of years - after the Clubhouse opens. Also, look for Lago Escondido to be one of HSB finest, most upscale residential developments, competing with The Peninsula for top billing. Brady’s arrival in HSB has been a god-send. What he has done with the two properties and what he has done to improve values across the entirety of HSB is far beyond what anyone might have imagined or thought possible. But Brady is not taking off to rest on laurels. He’s busy chasing other possible projects in the area, as well as elsewhere. Here’s hoping he finds another equally fine one close by that will further enhance our extraordinarily special community. It’s wonderful knowing that the Doug, Douglas and Jordan Jaffe, Wayne Hurd, Brady Oman, and now Sam Martin are all busy working to enhance the community. It is also wonderful knowing Mayor Lambert and HSB’s City Council are in place to see that everything comes together in the best possible manner while operating with the realization that if HSB doesn’t continually grow and upgrade itself, it drops behind by default and declines to the detriment of everyone in HSB. 20) OIL PRICES DROP BELOW $50 PER BARREL. WHAT’S UP? As the accompanying chart of year-ending prices shows, crude oil closed out 2006 at $61.15 per barrel, up from $61.14 per barrel at the end of 2005. However, the price has fallen as low as $49.90 in the three weeks since and was at $55.04 on Tuesday, the 23rd. Last summer, crude prices reached a high near $78 a barrel and most analysts were predicting further gains to $80 and even $100. WHAT’S UP? Well, what’s known for certain is that there’s been more oil floating around than the market could absorb and in such oversupply situations, the price always goes down. What is not known is the cause. It could be weather-related (October, November and December were much warmer than normal), cheating among OPEC members, or weakened demand from Asia’s economic powerhouses - China and India. There’s also thought that the Saudis and their Persian Gulf oil-kingdom friends, all being Sunni, are looking for ways to damage Iran financially by overproducing and driving the price down. Interestingly, low oil prices hurt Iran more than any other major OPEC producer. Iran is financially stressed by its nuclear, terrorism and Middle East domination ambitions. It has let itself get in this bind by funding these projects at the expense oil fields. By neglecting Mother Goose, it finds itself unable to produce its production quota. Accordingly, Iran’s ability to continue funding world terrorism, continue its nuclear ambitions, and meet its basic needs is seriously impacted when oil falls below $60. Iran is also in a fix by letting itself become seriously deficient in refining capacity. It is therefore heavily dependent on foreign imports as a means to meet its gasoline needs. This situation is considered Iran’s Achilles heal as these vital imports are vulnerable to curtailment, and curtailment would bring Iran to a standstill practically overnight. The U.S. is in a position to apply this strategy against Iran. We used it to great success again Germany during World War II. Iran appears far more vulnerable. PRODUCTION CUTS? OPEC agreed last September to cut production by 1,200,000 barrels a day starting November 1st, citing rising stockpiles. However, only about half of the proposed cutback has been realized. Although OPEC’s member states are noted for failing to fully honor mandated production cutbacks, those most noted for honoring cuts in the past are the ones overproducing today. As oil prices made their 18% decline to $49.90 from the start of the year and 36% plunge since the price peak last summer, OPEC members see the decline as being relatively short term. This is evidenced by their aggressive push to invest billions to boost capacity to meet growing demand, especially from Asia’s economic powerhouses - India and China. AS OIL PRICES DECLINED, THE U.S. DOLLAR STRENGTHENED. While oil prices were declining to the low of $49.90, which w as actually reached on the 18th, the U.S. dollar was rebounding nicely, climbing over 2% against both the euro and yen. This led some analysts with pessimistic views on the price of oil to rethink their previous forecasts for a continued decline of the dollar. Don’t believe a word of it! Our economy is too oil-based, our nation’s oil supply is too dependent on foreign imports, and America is too indebted for our dollar’s strengthening to continue. So for this reason alone, and there are many others, the price of oil won’t stay down for long! When the oil price works its way back to OPEC’s target price, between $60 and $70 per barrel, the U.S. dollar’s long-term decline will get back on tract. And with oil being priced in U.S. dollars, as our dollar’s decline continues, the price of oil will rise in step. And as the price of oil goes, so goes the Texas economy in general and HSB in particular. And why is it that HSB benefits more than the Texas economy in general, or practically anywhere else for that matter? Because HSB is finally receiving the acclaim it has long deserved. It is finally being seen as the absolutely unique, extraordinarily special, laid-back and friendly, one-of-a-kind treasure the Hurds’ recognized it could be when they saw it in the raw, 37 years ago. And because of that, more and more people are acting as if they can’t get here fast enough! Retiring to or having second homes in HSB is becoming more and more where Texans aspire to be, and others are catching on fast. Having a home in HSB is becoming more and more recognized as a coveted badge of accomplishment. In that regard, I’ve often wondered if people ever look at HSB as possibly being somewhat like the retreat Ayn Rand had in mind when describing “Galt’s Gulch” in her 1957 masterpiece, “Atlas Shrugged.” And as HSB’s recognition continues to grow, it’s investment temperature continues to rise. The supply of parties newly interested in HSB - either for investment or as a homeowner - has seemingly increased with every passing day since it last bottomed in 2003, following 9/11. And as the historical Oil Price Chart clearly illustrates, America’s oil business still works well at the $50 per barrel level. So don’t expect it or HSB to slack off much, even if the Saudis continue to overproduce a little while longer. NOTE: For those wanting to know what’s really happening in the Middle East, go to www.Debka.Com. It’s an Israeli website that covers political analysis, espionage, The depth of the American press’ failure to cover issues paramount to a fair understanding of America’s Middle East policy is truly mind boggling. It’s a wonder the polls aren’t 100% against President Bush’s view of why we must succeed in the area. POST SCRIPT: “Atlas Shrugged” is the second-most-influential book of all time, a distant second to the Bible, according to a survey of 5,000 Book-of-the-Month Club members taken a decade ago for the Library of Congress. It was one of America’s top sellers during the late 1950s and early 60s. 21) HSB: GOING FROM THE BEST IN TEXAS TO THE BEST IN AMERICA. We’ve also learned that oil is a commodity traded on the world market and that it is priced in U.S. dollars. And we’ve noticed that the price of oil rises as the dollar declines in value, and vice versa. Unfortunately for the U.S., there hasn’t been much vice versa and none is foreseen. Let’s take a closer look at the relationship. COMPARING THE DOW TO THE PRICE OF GOLD: We’ll start with a chart that weighs the price of gold against the Dow Jones Industrial Average over the seven-year period from 1-3-2000 to 2-6-2007. The chart shows how much gold the Dow could purchase at any point in time within the period. We're using gold because it's the only true form of money. But mind you, since gold reflects the value of our greenback, this chart is reflecting the purchasing power of the Dow in terms of the U.S. dollar. Now put this chart into context. On 1-3-2000 the Dow was trading at 11,357. Put another way, if you bought every stock in the Dow back then, you’d have invested $11,357.
However, in terms of the Dow’s purchasing power, the Dow of 2-6-07 only buys 19.4 ounces of gold. In other words, the Dow had lost 50% of its purchasing power when measured in real money! COMPARING THE DOW TO HOME PRICES: In early 2000, the median home price in the U.S. was $169,000. If you had $1,135,700 invested in the Dow back then, you could have bought 6.72 median-priced homes. Today, the median price of a home is $221,000. And your $1,135,700 in the Dow is worth $1,266,000. Yet in terms of the number of homes your investment in the Dow will purchase, you can only buy 5.72 homes today ... that’s 16% less purchasing power. And remember, that’s just the national median home price. If you live in California, New York, Florida, or New England, the investment you made in the Dow back in 2000 buys only 2.5 homes or less today. Put another way, the Dow buys you 50% to 70% less in terms of real estate. COMPARING THE DOW TO BUILDING COSTS, SCHOOL TUITION, METALS, GRAINS & FOREIGN STOCK MARKETS: Some people might argue that these are just isolated cases of asset prices going through the roof at a much faster pace than the Dow’s appreciation. But that's not the case; everywhere you look, it’s the same result. Based on the Turner Construction Cost Index, a measure of the cost of building commercial and residential properties, the Dow now builds 30.4% less than it did in 2000.
The Dow now buys 55% less silver than it did in 2000 … 63% less copper … 45% less corn … 37% less wheat … 43% less rice! And if that doesn’t convince you, consider the loss of purchasing power in the Dow compared to foreign stocks. Today’s Dow will purchase 12% less of Spain’s Ibex 35 than it did in early 2000 … 41% less of Australia’s All Ordinaries Index … and 42.6% less of Shanghai’s A Index. COMPARING THE DOW TO GASOLINE COSTS: The Dow has failed to keep pace with rising energy costs, too. In January 2000, the national average for a gallon of unleaded gas was $1.45. The Dow would have purchased 8,832 gallons back then. Today, despite its 1,309 point rise, the Dow will only buy 5,556 gallons, based on the national average of $2.30 a gallon. So, the Dow has lost 37% of its purchasing power when it comes to unleaded gas. COMPARING THE DOW TO CRUDE OIL PRICES: The discrepancy is even worse when you look at crude oil. In January 2000, the Dow purchased 430 barrels of crude. Today it purchases exactly half that amount of oil, 215 barrels. That’s a whopping 50% decline in the Dow’s purchasing power of crude oil in only seven years – a 7.1% per year decline. Put another way, the price of oil has been increasing at the rate of 7.1% per year during the period, just for this reason alone. Think about projecting a 7.1% annual increase into the future. Crude oil prices will double every 10 years for that single reason without any help from tightening demand or additional terrorism – both of which are more than likely.
WHY HSB IS BEING DRIVEN TO THE NEXT LEVEL: 1) We've learned that with oil priced in U.S. dollars, oil prices must rise as our dollar declines to maintain market value for the producing countries that supply us. Although other factors such as supply/demand and terrorism influence world oil prices, most don’t realize the dollar’s importance 2) Although higher oil prices hurt the overall U.S. economy, the economies of major oil producing states like Texas, Oklahoma and Louisiana benefit immensely. The exact opposite occurs when the price of oil falls to the base of its pricing cycle, as HSB experienced beginning with the oil-price crash at the end of 1985 and lasting until 2003. 3) The economies of oil producing states benefit from higher oil prices through the higher margins our in-state producers receive. That extra cash for the same-sized barrel of oil they sold during the downturn lifts the economy of the producing region as the producer invests in new projects, buys new oil and gas leases, drills more wells, drills deeper wells, lays pipelines, buy drilling rigs, heavy duty trucks, employs more people, ad infinitum. 4) The benefits pass through many hands as they trickle down through untold layers to the local lumber yard, neighborhood furniture store, your local car dealer, your travel agent, your favorite restaurant, your dentist, et cetera as people buy new homes, new furniture, new cars, take vacations, go out on the town, take better care of their health, et cetera. 5) Today’s producers have their businesses pretty much back in shape and are beginning to treat/reward themselves, such as looking for second homes, for example. And where will they go for that? 6) They're coming to HSB because: a) its no more than 3.5 hours driving time from Austin, San Antonio, Houston, Ft. Worth and Dallas - five of the country's 19 largest cities; b) we have the finest public-accessible golf in the state; and c) HSB sets on the shore of Lake LBJ, America's lake of choice for lake-side enjoyment/living. 7) HSB also has one of the country’s finest private airports, meaning more distant cities like El Paso (the country's 21st largest city), and Midland/Odessa/Lubbock (home to many of Texas’ independent oil men) are also within range. 8) Furthermore, HSB is blessed to be located in Texas' "sweet-spot" - that small area in the heart of Texas where the four most attractive sectors of central Texas overlap - namely the Texas Hill Country, the Llano Uplift, the Central Mineral Region and the Highland Lakes. 9) In an article published in the 12-25-06 issue of Fortune Magazine, the state of Texas was predicted to see its real estate values appreciate more than elsewhere in the country for the next couple of years. There’s actually no reason to believe this advantage for Texas won't continue for a long, long time, especially considering Texas’ real estate was been depressed for almost two decades. 10) For the above reasons, the successful producers are coming to HSB in record numbers, not just to buy a second home. They’re coming in knowing they’re making a sound investment as well. They know that while their oil businesses struggled for almost 20 years, Texas' real estate did likewise. Our economy was too weak to keep our real estate values in line with the rest of the country. Predictably, our real estate became grossly undervalued. Although our declining dollar is steadily weakening our country and is indeed worrisome, there are still places in America that are not in decline, where one can still enjoy the bountiful American way of life, and where one can take advantage of overall weakening going on outside the oil patch – like, MOVE TO TEXAS! IN SUMMARY: Being that HSB is Texas' most attractive draw, HSB is where the state's greatest demand for real estate will be focused long-term. Accordingly, HSB is positioned to be among, if not lead, those select American cities that will see the greatest appreciation of its real estate over the next few decades – for as long as our country’s economy and lifestyle remain based on crude oil. Everything is pointing to HSB being not just the BEST IN TEXAS, but regaining the stature it had attained at the end of 1985, right before the crash – namely, the BEST IN AMERICA! 22) HSB FACTS EVERYONE SHOULD KNOW (Part 1). GROWTH – PAST, PRESENT & FUTURE. A) When HSB’s completed the build out of its basic infrastructure in 1985, it had more world-class offerings than any other resort in America, as follows: a) three 4.5-Star or better golf course when no other had more than two; b) America’s largest private airport; c) a location within 3½ hours driving time of five of America’s 19 largest cities; d) situated in a world renown geological paradise; e) occupied the “sweet- spot” of the spectacular Texas Hill Country; f) positioned on the world’s largest B) Although there were four resorts that stood out at the end of 1985 as HSB’s major competitors (California’s Pebble Beach, Colorado Springs’ Broadmoor, Tampa’s Innisbrook and Myrtle Beach’s Grand National), neither they or any other could match these HSB attributes, meaning HSB stood out then as AMERICA’s BEST DESTINATION, whether for a weekend or a lifetime. C) HSB’s private airport opened in 1972 as America’s largest, and remains that today as the most country’s most complete private facility, though it no longer has the longest airstrip. D) Although HSB had been in business for about 180 months and was at peak health when impacted by the Oil Crash of 1986, it was overwhelmed and fell from the peak of the resort world to a boarded-up state in a period of mere months as almost everyone in Texas, Louisiana and Oklahoma found themselves severely hurt financially by the Crash and huge numbers abandoned the oil patch and fled to adjoining states in search of jobs, leaving high-end second-home communities and resorts like HSB’s practically abandoned. E) HSB’s comeback, which began in 1999 as the price of oil began to rise off a 14-year bottom, but was setback twice, first by the stock market crash in March of 2000 followed by 9/11 in late 2001, did not begin its current up trend until the recovery from 9/11 that began in 2003. F) Many of the musicians that make Austin the “Live Music Capital of the World” live in the HSB-Marble Falls area, which nicely augments the two communities’ joint efforts toward becoming a regional cultural center -featuring live music, fine art, crafts, and theater (both community and Opry). G) Close to $3 billion of new projects have been announced for the HSB triangle – that 20 square mile area bounded by US 281, Texas 71, the Colorado River, and Sandy- Walnut creeks – since the market crash of March 2000 and more than half of that is now underway. H) The HSB-Marble Falls area was recognized in 2005 as being one of the nation’s 100 fastest growing Agurbs, yet fundamental investment in the area has increased substantially since then. I) Fortune Magazine predicted in late 2006 that real estate values would grow faster in Texas for the foreseeable future than in any other state. J) Considering that HSB is Texas’ principal draw, being blessed as it is with such extraordinary attractions and having such an advantageous location to five of America’s largest cities, it is on tract to regain its late 1985 spot as America’s most desirable destination by 2012 - whether for a weekend or a lifetime. K) Based on its prior history, HSB may be more sensitive to the price of crude oil than any other locale in the country, which bodes well for its future well being, considering that the country’s economy will likely remain principally oil-based for decades and oil prices will likely remain exceptionally strong throughout the period. HSB’s GOLF A) America’s largest Robert Trent Jones Sr golfing complex is located at HSB. B) HSB’S Ramrock Golf Course has been widely recognized as the toughest in Texas since it opened in 1981. C) The Slickrock course, completed in 1973, is built entirely on igneous (granite) terrain, whereas Ramrock is confined entirely to metamorphic terrain. D) “GOLF DIGEST” ranked HSB’s Applerock Golf Course as America’s Best New Resort Course in America for 1985. E) The Applerock course is built 75% over metamorphic terrain and 25% over granite (igneous) terrain. F) In 2006, “GOLF DIGEST” ranked the three-county region centered on HSB as its third highest among the Top-18 areas in America recognized as emerging retirement golfing meccas. G) The Dallas Morning News ranked Escondido’s Tom Fazio Signature Golf Course as the finest new course that opened in Texas during 2006. H) Eighty percent of the Escondido course is built over granite; 20% over metamorphics. I) With the completion of Skywater’s Jack Nicklaus Signature Golf Course in late 2008, HSB will have more 4.5-Star or better public-accessible golf than any other city of its size in the nation. J) The Nicklaus course will offer by far the most varied geology of the five courses, crossing the major HSB-Marble Falls Fault, an older and much smaller thrust fault, and being underlain by all three major categories of rock – igneous, metamorphic and sedimentary. K) The Nicklaus course is the only one of the five that traverses sedimentary rock, with more than half of it being underlain by the Ellenberger Limestone. L) The Nicklaus people think the Nicklaus course’s natural setting gives it a legitimate shot at ranking among Nicklaus’ best and talk of it possibly measuring up with the likes of his best - Muirfield. M) Today, even without the Nicklaus course, where construction got underway in February, 2007, HSB has more public accessible 4½-Star golf than any other city or resort in Texas. N) Only two other cities (Austin and San Antonio) and two other resorts (Barton Creek and La Cantera) have as many as two 4½-Star courses. O) By itself, our small community is home to 1/8th of the public-accessible 4½-Star courses in the entire state, which is huge considering that Texas is home to six of America’s 21 largest cities. P) Folks, by considering that HSB’s youngest public accessible course - Applerock – is 22 years old and that we nevertheless still rank this strong 22 years later, one can better appreciate how much stronger we were then and how we could have led America’s entire resort golfing world at the end of 1985. Q) At the end of 1984, HSB had the only 4½-Star public accessible courses in the entire state – namely, Slickrock and Ramrock. R) At the end of 1985, there were five 4½-Stars in Texas; HSB had three of the five. S) When the Nicklaus course - certain to be at least a 4½-Star course - is completed in late 2008, HSB will rank as having more public accessible 4½-Star golf than any other city of its size in the country, save for one, that being Kiawah Island, South Carolina, which has five. Next week, we’ll get into one-sentence facts that involve the following subjects: 1) Local Geology, 2) Lake LBJ & Texas’ six other Highland Lakes, and 3) Climate, comparing HSB’s with Scottsdale’s. 23) HSB FACTS EVERYONE SHOULD KNOW (Part 2). LOCAL GEOLOGY 1. A 10-mile diameter area centered on the northwestern corner of HSB is a world-renown Geological Paradise that affords one of the world’s best and 2. Marble Falls’ five-mile long Canyon of the Colorado, which confines the downstream portion of Lake Marble Falls, is 50 times older than the Grand Canyon, which is a mere five million years old. 3. The Canyon of the Colorado has had two lives: it carried sediment off the Llano Uplift for 130 million years (from 120 to 250 million years ago); was buried and out of commission for the next 100 million years (from 20 to 120 million years ago), and re-emerged 20 million years ago to regain its function as the principal conduit through which erosional detritus from the Llano Uplift was carried to the ancestral Gulf of Mexico. 4. Some 200 million years ago, the downstream end of Canyon of the Colorado was probably home to a truly magnificent waterfall, its fall measuring around 400 feet when measured to the base of its underlying scour hole, which remains carved 125’ deep and 500’ wide into the base of the river’s channel – said depression known today as “Bluebonnet Hole.” 5. The Marble Falls Limestone is the hardest rock in the Llano Uplift. 6. The waterfalls on the Colorado at Marble Falls, on the Pedernales just east of Johnson City and on Cypress Creek at Cypress Mills are all produced by the same rock formation – the Marble Falls Limestone. 7. The “marble” falls at Marble Falls are not marble; they’re the product of hard limestone ledges that river-borne fine sand particles have polished over the eons. 8. HSB is unique in that it and Kingsland are the only cities located within Texas’ Sweet-spot – the small area in the heart of Texas that encompasses central Texas’ four most favored regions: The Texas Hill Country, The Llano Uplift, The Central Mineral Region, and The Highland Lakes. 9. Texas’ Central Mineral Region is one of the most commercially barren potential mineral regions in America. 10. Due to its porous granite gravel soils, HSB seldom has any standing water, which means mosquitoes seldom have places to breed, which makes HSB one of most mosquito-free lakeside communities in the eastern two-thirds of America. 11. The Llano Uplift is one of the most earthquake-free areas in the world, having not experienced an significant earthquake in 200 million years. 12. The HSB-Marble Falls Fault demonstrates more vertical movement - over 4,000 feet of displacement – than any fault other seen in Texas. 13. About 250 million years ago, the site of today’s Austin was 30,000 feet above sea level – as high as today’s Himalayan Mountains, the world’s highest. 14. Whereas the state of Louisiana has with rare exception no rocks at its surface, the HSB-Marble Falls area has a greater variety of rocks than practically anywhere else in America. 15. Sixty million years ago, HSB and Marble Falls were buried under sediment about one-half mile deep. 16. HSB’s geologic window offers America’s most complete look at a practically continuous 1.26 billion year period of time, dating back from 100 million years ago to 1.36 billion years ago. 17. The granite plutons of the Llano Uplift – the Enchanted Rock and Granite Mountain plutons being among the best known – are among the world’s finest examples of an underlying massive granite batholith fingering upward into so many distinctly separate plutonic cylinders. 18. Compared to the 1,360,000,000 year old metamorphic rocks that make up much of the Llano Uplift’s core, the Texas Hill Country is a Johnny-come-lately, forming only 20,000,000 million years ago, after the Balcones Fault Zone developed along a trend extending from Waco through Austin to San Antonio before turning westward, giving rise to the Edwards Plateau and separating it from the Gulf Coastal Plain. LAKE LBJ & TEXAS’ SIX OTHER “HIGHLAND LAKES” 1. A GOOGLE search documents there’s no larger lake in the world that is maintained at a more constant level than Lake LBJ. 2. Lake LBJ, where one can get exceptionally up close with the lake, is America’s choice for lakefront living for those who know of its unique, one-of-a-kind features. 3. Lake LBJ makes HSB literally unmatchable – without the possibility of being duplicated! 4. Texas’ Highland Lakes, a chain of seven lakes located on the Colorado River, one above another, beginning with lowermost Town Lake in Austin, extends up river to Lake Austin, Lake Travis, Lake Marble Falls, Lake LBJ, Ink Lakes to Lake Buchanan. 5 All of the lakes are pass-through lakes except for Lake Travis and Lake Buchanan, which function as flood control lakes, with Lake Buchanan releasing water as needed to keep Lake LBJ constant in periods of drought and Lake Travis serving as a catch pool to dump water into when needed. 6. Lake LBJ is maintained to not exceed 2.9 feet above its 825’ pool level (save for situations exceeding 100-year flood conditions) to satisfy the turbine cooling needs of a natural-gas driven power plant located on its shore, as well as to protect thousands of lakeside homes built as close as four feet above the 825’ pool level. 7. All but Austin’s Town Lake are operated by the Lower Colorado River Authority (“LCRA”). CLIMATE (Comparing HSB’s with Scottsdale’s) A) Llano County has apparently had a semi-arid climate for the past 250 million years. B) In semi-arid climates, physical erosion dominates over rain-induced chemical erosion, meaning that many fine-grained sedimentary rocks like the limestone and sandstone formations present in the HSB-Marble Falls area, are more resistant and weather more slowly, forming the local topographic highs, than do the coarser grained rocks like granite, a weather to topographic lows, relatively speaking. C) The Resort's Prime Season runs for 8½ months, from mid-March through November, featuring our warmer spring, summer and fall months and covering a majority of our school-age children's normal vacation time, making HSB Resort a family-friendly destination. D) During HSB's coldest months - December, January and February - the mean daily high and low temperatures are comfortable 61 and 41 degrees, respectively. E) On the other hand, HSB is also still reasonably comfortable at its hottest, which occurs annually between June 10th and September 12th, when the average high temperature ranges between 90 and 96 degrees and average lows range from 66 to 71. F) HSB's spring and fall months are nothing short of ideal, with HSB receiving an ample 30 inches of average rainfall annually. G) HSB's relative humidity averages a very comfortable, tough-to-beat 40% (www.marblefalls.org/areainfo/demographics.html). H) Many consider HSB's year-around climate better than that found at Scottsdale. I) Between June 5th and September 10th, Scottsdale's average daily high temperatures range between 100 and 107 degrees and average daily lows range from 67 to 80. J) Scottsdale's coldest months also occur during December, January and February, when its average daily highs and lows are a very comfortable 68 and 47, respectively, and also like at HSB, the intervening spring and fall months are ideal. K) Scottsdale's Prime Season features its eight coldest months, extending from mid-September to mid-May, circumventing more than three months of 100+ summer-time temperatures. L) When Scottsdale is "In Season," children are in school, unavailable for vacations, limiting Scottsdale to more of an adult attraction than family destination. These are all good talking points. Try working a few into your conversations. There’s so much of special interest about HSB that many don’t know about, understand or appreciate. And have another great day in HSB! Since joining the BEACON’s staff last July as a 70-year old cub reporter, I’ve worked real hard to be a credit to my employer. I’d been unemployed for several years and it was with great satisfaction that I finally landed the reporting job after being rejected as being too old - time and time again - by cocky, know-it-all twerps half the age of my grandkids that were processing my job applications. I’ll must admit that being a reporter has not been the cushy desk job I’d imagined. I’m slow at developing themes and slow at converting thoughts to the page. Worse yet, I’m so slow finding keys on the typewriter that I often forget what I had in mind when trying to finish out sentences containing more than a half-dozen or so words. Fortunately, with my golf handicap now pushing 35 and with my sexual handicap now twice that, at 70+, I do have plenty of time on my hands. The extra time has helped me somewhat offset my aforementioned cub-reporter shortcomings. But I not only sense, I know I’m falling far short of delivering the type of news that apparently sells newspapers – so short that I must voice a community-wide appeal: "Won't you he'p me?" I remember when I was a cub geologist in New Orleans back in the early 1960s, a man by the name of John McKeithen made the same plea - "Won't you he'p me?" It came with a promise to "clean up the mess in Baton Rouge." It worked for him. It helped him win election as Governor of Louisiana in 1964. I’m aware that most reporters who have risen to Star category, if not to Pulitzer status, did so because they made money for their publishing company. And I’ve grown to understand that those who‘ve met with such success invariably followed the adage that the best news is the most negative news. I’m aware I’ve failed miserably in this regard and I’m frustrated to no end. It finally got to me yesterday. I got to looking over the collection of articles I’ve written on various aspects of HSB that the BEACON has published over the past nine months. When including those written under pen names, there were about 60. Not a single one had the slightest negative connotation! And the one they chose to run in this issue, concurrently with the appeal I’m making herewith, is also positive. As hard as I’ve tried, finding negative news on the beat I’ve been working has been extremely difficult. At this stage, they’d dare not put me on another. And that’s my problem. That’s why I need your help. Please consider this a solicitation to forward any negative HSB news of community-wide interest that any of you might care to share to the following email address: KMartin@Moment.Net. Don’t worry about subject matter. If you can’t think of anything, ask your kids or grandkids. They’ll know what’s going on. And if you’re bilingual, and I’m not, check out what’s happening in the Hispanic sector. But then again, that might not be such a good idea. You’ll recall the recent article we wrote on how HSB has a shortage of workers, which means those that are here are getting paid a lot more now than last year and will likely be doing even better next year. And although we’re having to pay them more, even that isn’t negative news. We’re actually benefiting because it’s driving HSB’s home values up 10% or so. I’m certain you’ll want to help, y’all are so laid back and friendly, but I just don’t know what to tell you other than: Damn it! It’s just not fair!! It’s not my fault!!! I’m retired, getting older by the day, haven’t slept well in weeks, my wife looks 15 years younger, our two pets prefer sleeping with her (and vice versa), she owns the house, my truck’s got nearly 265,000 miles on it, and the damn 2002 Taurus is in her name! And now my job’s at stake! I say again: “Won't you he'p me?” 25) HSB RESORT SIGNS #1 PICK: G. Michael Thomas. WOW! What a move. While everyone was focused on the run up to the NFL Draft, the Resort’s Chief Executive - Douglas Jaffe III - slipped off to Austin, sold HSB over the Resort’s #1 rival, and signed up a perceived untouchable: G. Michael Thomas, Barton Creek Resort’s highly successful President and Chief Operating Officer. D-III has a well-conceived vision for the resort that the family has bought into. It has been built with counsel provided by several of the nation’s leading authorities – as demonstrated at the “Town Meeting” held by the Resort this past March at the Marriott. The 54-year old Thomas, who had been at the Club Corp facility since 2001 and was also one of Club Corp’s regional vice-presidents, ranks as an All-American among executives working to maximize resort operations. He likes what he sees. HSB will be the 10th stop of his 33-year career. All ten are listed among America’s leading resorts. Before arriving in Texas in 2001, his prior eight stops were all located along the East Coast. The eight east coast stops were at the following locations, listed chronologically, first to last: Sea Pines on Hilton Head Island, South Carolina (4-Star/4-Diamond); Wintergreen, Virginia; Virginia Beach, Virginia; Sawgrass, Ponte Vedra, Florida (4-Star/4-Diamond; Hammock Dunes, Palm Coast, Florida (AAA/4-Diamond; Fisher Island, Miami Beach, Florida (5-Star/5-Diamond); The Tides, Irvington, Virginia; and Daufuskie Island, Hilton Head Island, South Carolina (AAA/4-Diamond). Thomas, who prefers Michael over Mike and over whatever “G” stands for, got into the business while still in college. He worked summers at Sea Pines Resort on Hilton Head Island while attending South Carolina’s Wofford College. He made such a favorable impression that Sea Pines hired him upon graduating at the age of 21 to manage the Reception Center for its 1,252 Villa units. Passing that test in record time, he was quickl5 elevated to National Sales Manager and Director of Tour & Travel - Sea Pines youngest executive. Sea Pines is Host site of the PGA Tour Heritage Classic Golf Tournament. It was not long before East Coast resorts recognized him as an operations and management specialist. Those looking to reorganize and/or rebuild sought him out. The fact that his first eight assignments lasted an average of only 3.4 years testifies to the prompt success of each mission. Save for Sea Pines, his entry assignment, and Wintergreen, where ex-Sea Pines’ executives hired him to help build this new facility and where his work helped him get elected President of HSMA-Virginia for 1981-1982, the other six stops were full-scale reorganizations. For those not familiar with the importance of some of these assignments, he’s credited with turning around Sawgrass – home of the PGA Tour and Host of the TPC Championship - over a 45-month period completed in March 1988. Although it don’t get much bigger than that, he earned this major assignment at the early age of 31! From there he went to Hammock Dunes, a Sheraton/ITT resort. This turnaround came so soon that it received the Sheraton Resort of the Year Award in his first year. It also helped him get elected President of Southern Innkeepers Association for 1991-1992. That success attracted Fisher Island Club’s attention. He came in to reorganize and manage this prestigious resort, developed new leadership, raised all service levels consistent with 5-star/5-diamond quality, and dramatically improved financial results over three years while catering to elite domestic and international clientele and celebrities. The Tides (Tides Inn, Tides Lodge & Tides Marinas), a family-owned Virginia resort in need of reorganization called next. His turn-around effort produced positive financial results in year one, resort expansion in year two, and the take-over of a “sister resort” in year three. It also got him elected to Virginia Hospitality Association’s Board and as its President-elect for 1998. This string of successes caught the eye of Club Corp. They brought him in to re-position Daufuskie Island, located among seasoned Hilton Island resorts, which it had recently purchased. Dramatic improvements in services, facilities and financial results occurred over a three-year period. Club Corp recognized Thomas’ accomplishments by awarding him its Special Achievement Award for 2000. While there, he was appointed Vice Chairman of Hilton Head Island CVB and elected to the Board of South Carolina’s Hospitality Association. Upon completion of this project in December 2001, he got his first opportunity to become a Texan. Club Corp asked him to take over operations at Barton Creek (AAA/4-Diamond). He came over to check it out – his first look at central Texas – and was so taken by Austin and the Texas Hill Country that he’s been apologizing ever since that it took him so long to get here! Here’s what he did for Barton Creek. During 2002, occupancy was 52%, revenue was $40 million and profit was $8 million. After reorganizing, during 2006 occupancy was 76%, revenue was $61.4 million and profit was $16.3 million. The Governor’s office appointed him to the Texas Tourism Advisory Committee, he was elected to Austin’s CVB Board, he received the “Keep Austin Beautiful Industry Leader Award for both 2004 and 2005, and achieved Club Corp’s “Circle of Excellence Award” for 2003, 2004, 2005 and 2006. Barton Creek Resort was awarded the “National Environmental Steward Award for Resort Courses” and all four of its golf courses were certified as “Audubon International Signature Sanctuary” courses. Thomas was happy as could be at Barton Creek. His wife, Jean, a Ph.D, and their 18-year old son, a senior in high school with plans to attend Southwestern in Georgetown next fall, love the area. He had grown to believe his passion, vision, ethics and fairness were the basis for his success. He has always liked to lead by example and enjoys working with all components of his team. He believes in the importance of getting involved with local community efforts and maintains an extensive network within state and national hospitality organizations. He’s found that helping a property reach its potential can be best implemented when one’s confidence in business goals is blended with sincere respect for others and that this is especially important at the high-end, premier property that serves the affluent guest and membership clientele. Never before had he had a chance to help take a major resort, and its associated community, back to the top of the Resort world. Never before had he seen so much pent up energy and money directed at such a lofty objective. Never before had he seen private ownership so dedicated to make it happen. Douglas Jaffe Jr, the Resort’s owner and Chairman of its Board, tells the BEACON that it was D-III’s idea to bring in such a heavy hitter. He wanted to rest assured that the family’s dream would get realized, and recognized operational expertise like that for which Thomas is noted would be essential to insure it happened in a timely three-to-five year fashion. So now you know. Treat G. Michael Thomas, who comes across as a really real and really good guy, with the utmost of respect, and protect him at all costs. He’s the vehicle through which the Jaffes’ dreams and visions will get implemented. He’s the insurance policy – our guarantee the Resort will regain its 5-Star status. 26) MARBLE FALLS' MAIN STREET - from Lemon to Lemonade. Marble Falls' Main Street did not become as "main" as probably imagined initially. When laid out 150 or so years ago, it no doubt made considerable sense to line it up with the best location for a Colorado River ferry landing, said point being on the natural lake located immediately up river from the “Marble” Falls. And so it was. But the street has fallen far short of making a positive statement - say like Fredericksburg's did. And it has fallen far short of becoming the city’s main drag – say like Fredericksburg's did. When the bridge builders arrived, they didn’t like the ferry location and built the river’s first bridge immediately downriver from the Falls, secured by the adjacent rock walls. Marble Falls’ Main Street went from active to by-passed, overnight, and has remained by-passed ever since, as all successor bridges were built in that same downriver location. Today, Marble Falls’ main drag is a five-mile long strip mall on it way to being a 10-mile strip mall - where 20,000 vehicles pass daily, fueled by the Colorado River bridge. Marble Falls’ main street today is Highway 281. Highway 281 reduced Main Street to by-water status, with hardly a 1/20th of 281’s traffic. Nevertheless, the by-water has shown a resiliency to escape a series of death pronouncements that would make the most daring alley cat proud. Main Street’s most recent reawakening has been largely sparked by the vision of two couples: Russell Buster and Linda Callaway and Toby and Vicky McWilliams. Both recognized that although Main Street had been a sleepy by-water for the better part of a century, it could represent great opportunity once the timing was right. Russell and Linda found Marble Falls first, arriving in 1990. They found the street practically stone dead. Five storefronts were empty and several buildings were used simply for storage. They stayed for six years, leaving for Tennessee in late 1996, where they were active on the Nashville music scene for several years. They returned in mid-2003. In all their years in Marble Falls, they’ve focused their efforts on the block of Main between 2nd and 3rd, where they’ve owned and/or refurbished about 75% of those privately owned. Their vision ultimately centered on the southwest the corner of Main and 3rd, where they’ve made their biggest splash. There they bought out Susan Spitzer, who managed to keep the Marble Theater alive as an almost first-run movie venue, single-handedly, over a period spanning 20 years - until Russell and Linda took it over in 2003 when the new Driftwood Theater opened. They promptly refurbished the 65-year old structure, converting it into the performing Uptown Marble Theater, featuring live entertainment. With the help of local directors, the Uptown Marble Arts Alliance - a non-profit 501(c)(3) organization – was formed to support the local arts community and provide a venue for use by other community organizations. Through the Alliance, they produce a variety of weekend productions, typically weekly, with The Hill Country Opry being a regular monthly happening. After completing work on the theater, they continued their conversion efforts by turning the rear of the theater into the R-Bar & Grill, which has become a community gathering spot. Toby and his wife came to Marble Falls in the mid-1990s. Their vision for the neglected area led them to focus on Foxworth-Galbraith’s lumber yard, located streets on the east side of Main between 3rd and 4th, which was relocating to one of the city’s industrial districts. They converted the existing, century-old, two-story rock-faced building at Main and 3rds northeast corner, which had served as Foxworth’s office and retail outlet, into Aunt Bee’s Candle Factory. They followed by demolishing its lumberyard at the Main and 4th corner to make room for a new structure - the Old Oak Plaza Mall. They eventually sold the candle operation and converted the building into another mall-like entity. Together these two buildings today house about 20 locally-owned retail shops and boutiques. The block-long complex, now known as Old Oak Square and now owned by Marc Serif, is Marble Falls’ most easily accessed and most popular shopping district. Centrally located among the potential the two couples envisioned was Marble Falls’ Central Police Station. Time would tell whether it would prove an asset or a liability. Scattered today among what has become an increasingly attractive 2½-block oasis are three extraordinary restaurants: Cafe 909, Patton’s on the Main, and Cecil & Company. Patton’s and Café 909 have been open for the past three or four years, whereas Cecil’s opened about a year ago. Austin’s American-Statesman ranks Cafe 909 as the sixth best restaurant in central Texas, and gives it very close to a 5-Star ranking, of which there are only four. Patton’s is ranked among its top-50. Cecil’s is a nice alternative to both and has a pleasant, laid back setting. It’s big on seafood and will prepare every entrée to match your palate – whether it be grilled, blackened, sautéed, broiled or fried. They chose to locate their operation adjacent to the Police Station, which has proven an unexpected plus for the district - amounting to a security guarantee for the district’s increasingly upscale clientele. The Tavern proved just the thing to help enhance our not very main, Main Street. It features an impressive 80-foot long bar and has several TVs lined up along all four walls. Early this summer, the Tavern will expand into the building immediately south. This space will compliment the Tavern nicely, serving a full menu and providing a quainter, more intimate U-shaped bar for the less sporting. The building’s front half will be a smoke-free restaurant, whereas the rear portion will be have a game-room atmosphere with four pool tables, two dart boards, shuffleboard and video games. Both sections will connect with the Tavern. Its restaurant will offer an interesting new service for the area – a late-night breakfast buffet, featuring free coffee. This past March, a new nightclub called Lorraine’s opened one block west of Main and 3rd, catty-cornered across from the R-Bar. It has nicely embellished the district’s northwest corner. It is a Grant Dean development – operated by Debbi Walton and Julie Sckittone. This attractive live-music venue, which seats 250 people, hosts a wonderful variety of musicians and bands, good for easy listening while nursing a drink, with plenty of space for the dancer – avid or otherwise. Darcy’s Deli will be opening next door, soon. One - “The House of Blue Lights” – will have a 30-foot bar. It will feature hamburgers and live music. It will operate out of a remodeled house at 112 Main Street, directly across from Marble Falls’ Library, 1½ blocks south of Old Oak Square. It is owned and will be managed by Matt and Cherry Curry and will seat over 200 in a covered but substantially open-air, rather rustic setting. Like Lorraine’s, it will offer almost all types of music. You’ll be pleased to know that rap and heavy-metal music are not being offered anywhere in the district. The other new Main Street venue will be known as “The Falls Bistro and Wine Cellar.” It’s under construction across from Patton’s under the ownership and management of Leslie Haley and Susan Yewell. It will fit it nicely with the district’s three other fine restaurants while offering a substantially different though equally upscale theme, entitled: “Flavors of Spain; influenced by ingredients from interior Mexico; prepared in the French tradition; offered in both fine dining and urban lounge settings.” It will feature traditional Spanish plates for the sharing called “tapas,” along with specially prepared entrées, changing nightly, by Chef Rafael Garcia of “Wild Horse” fame – the highly successful restaurant that preceded Patton’s - which went down suddenly and unexpectedly, with front office mismanagement rumored as the cause. The third new venue, to be called “The Deck,” is located just outside the district, though still within walking distance. It’s about 2½ blocks southeast and is a Paul Brady and John Kemper (the latter of Bluebonnet fame) development. This live music, bar and grill establishment, which will seat 250, is under construction overhanging Lake Marble Falls behind their River City Grill, next to Chili’s. It will open in early summer. The River City Grill also offers live music every Tuesday night - featuring Mike Blakely and a TexAmericana sound. Blakely is one of the better-known local musicians. He’s also a major, award-winning Western novelist. Scattered between these live-music “dance halls” are two outdoor live-music “watering holes.” These two venues seem mathematically placed as if to insure a successful stroll across the practically traffic-free district without the fear of running out of “fuel.” One is located on Main Street, under the 500–year-old Oak Tree at the Old Oak Plaza, next to Cecil’s. The other is behind Patton’s. Both are outdoor settings and their music offers nice background for relaxing strolls through the district, making them all the more pleasurable. Marble Falls’ Main Street appears to have finally found its niche. Free of crime and heavy traffic, it is proving perfect in its new role as a neat, safe and trendy shopping, dining and entertainment district catering to the upscale adult. It’s a natural progression that all this is occurring. With Austin being the “Live Music Capital of the World,” it was only a matter of time before Marble Falls emerged as the “Live Music Capital of the Hill Country,” since many of the musicians that make Austin’s music live in the local area. Folks, if you haven’t sampled our new “by-water adult entertainment district,” you must! It makes for an excellent, laid back night-time outing, with some of the best food, best theater, and best live music you can find in such a small, safe and friendly stretch – a mere 2½ blocks long. The district is also a wonderful example of the smart, quality developments the HSB-Marble Falls area is attracting. If you’re not into dancing or if you’ve already had your fill of fine food for a given evening, you’ll nevertheless enjoy promenading the Main at dusk. Some of the local diehard strollers will tell you: “It beats walking the aisles of Wal-Mart. And it’s safer – no carts.” Don’t let a powerful recommendation like that go untested. Who said things can’t get no better? RETURN TO HSB BEACON ARTICLES INDEX
|
||
Though we strive for accuracy in our reporting, we do not guarantee it, so check things out before acting. For further information, call 512/755-6226 or email us at kmartin@moment.net. |
At that time, the same $11,357 could have also bought you 39.3 ounces of gold. About seven years later, on 2-6-2007, the Dow was trading at 12,666. In pure nominal terms, the Dow had gained 1,309 points since 1-3-2000, or 11.5% - only 1.6% per year, not too swift.
The average in-state tuition for a four-year public university was $1,500 per academic year in 2000. Today, it’s $5,836. So while the Dow would have bought 7.57 years worth of college tuition in 2000, today it buys only 2.17 years. That’s a whopping 71.3% decline!
WHAT'S DRIVING THIS? Despite a rise of 1,309 points in the last seven years, the purchasing power of the Dow is getting slaughtered by just about every asset under the sun. The same goes for the NASDAQ and the S&P 500.
The primary force behind all this is the falling value of the U.S. dollar. As the value of the dollar has plunged since early 2000, the value of tangible assets has risen correspondingly.