Huntsville’s “Stonehenge”

By Lance Lowry

07-26-2024

Huntsville, Texas – In 2018 a 4 story 600 bed apartment building located near Sam Houston State University was planned to open at the start of the 2023 school year. The complex was going to feature multiple lounges, study spaces, a fitness center, and a pool house.

Now the lot at 1401 16th Street sits vacant with overgrown grass and concrete pillars rising up in the air. The eye sore in the Avenues is being dubbed by some locals as “Huntsville’s Stonehenge”.

The property is currently owned by Epoch Huntsville DST (Delaware Statutory Trust) who purchased the lots, which now comprise of 4.62 acres, evaluated at $251,610. The track of land sitting in the middle of Huntsville could be worth millions.

According to Walker County Appraisal District records, over $5,718.76 in back taxes is owed on this property for the 2023 tax year.

Filings with the U.S. Securities and Exchange Commission show the Administrative Trustee for the project is the Valeo Groupe Americas, who is now the recent subject on a possible lawsuit by the White Law Group out of Chicago, Illinois.

Recently the law firm announced on their webpage they were “investigating potential securities claims involving broker dealers who may have improperly recommended Valeo Groupe offerings to investors, including Epoch Huntsville, DST.”

Financial and legal problems arose during the initial construction phase of the project. Disagreements occurred between the project’s contractors and managing developer. Now there are over $882,649.49 in mechanics liens registered on this property after the contractors claimed lack of payments.

Development or sale of the property maybe tied up in litigation for years. The latest legal investigation may signal more complex Federal Court filings.

We reached out to the White Law Firm, who at the time, was unable to comment for this story.