UPDATE: SpaceX residential buyout

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BROWNSVILLE, Texas – An offer extended for residents living near SpaceX facilities. The company was looking to buyout every property near Boca Chica Beach for three times an appraised value. Now, residents say that they have been given another shot of a second appraisal for a chance to negotiate what was once considered a non-negotiable offer.

What was supposed to be an untouched retirement area with vast natural resources is slowly becoming a nightmare for a select few. Residents living near SpaceX facilities now facing pressure to sell and give up their dream home or remain in fear of losing it all to eminent domain.

In a letter dated September 12, 2019 SpaceX CEO Elon Musk sought to buy every home near its newly formed facilities. The problem residents say is the appraisal value is not enough to buy a home in a similar condition.

Maria Pointer, resident, “When you go to buy a home, you have to pay for a view. When you are being squeezed out, they’re not going to pay you for that view.”

Their concern is not just the offer to sell their homes. Rather being forced out of their properties. Not being offered an alternative to live in similar conditions. All with little to no support from their elected officials. What made the area unique is the peace and tranquility. The Pointers are worried they will never live near a similar place ever again.

Rayford Pointer, resident, “For those folks out there who think we’re getting a windfall here, that three times the value, we should be able to take this money and run. You can buy a cheap property in Brownsville, somewhere and take $100,000 and put it in your pocket. That’s not why we’re out here. That’s not why we came out here. We came out here because we enjoy this area and decided to live here. We decided to upgrade our property and enjoy the ambience and to get to appreciate the peace and quiet.”

On September 28th Elon Musk himself met with families to talk about the buyout during his visit to Brownsville. Instead of re-assuring, the residents say they were left with more questions than answers.

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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