search

The Real Deal Logo

Trending

Tides’ original investors may be wiped out by preferred equity dealTides’ original investors may be wiped out by preferred equity dealLA court strikes down SB9 law allowing single-family lot splitsLA court strikes down SB9 law allowing single-family lot splitsBushburg buying Rudin’s half-empty FiDi office building for $160MBushburg buying Rudin’s half-empty FiDi office building for $160MDevelopers have a new tax break. Now they must figure it outDevelopers have a new tax break. Now they must figure it out
Development
Texas

Beachfront developments come for Houston

A spate of new project rise on the shores of the Bayou City

Oceanway in Beach City with Inspire Communities' Rick Andreen and Tiara on the Beach with Satya's Sunny Bathija

Oceanway in Beach City with Inspire Communities’ Rick Andreen and Tiara on the Beach with Satya’s Sunny Bathija (Inspire Communities,LinkedIn, Satya, Tiara on the Beach)

There’s a lot of development action around the beachfronts near Houston.

Inspire Communities is finishing renovations on a mobile home park in Beach City, just west of downtown Houston on the northern end of Trinity Bay. The 17-acre community, called Oceanway, is one of a spate of mobile home projects popping up across South Texas as home prices in the Houston area have neared record highs. Manufactured home production was up 17 percent in the region in 2022, according to the Texas Manufactured Housing Association. 

Inspire has owned Oceanway for two years, and in that time has added 30 new homes, streetlights, palm trees, and a park. It also built a fishing pier on the bay. 

Houses start at $140,000, with some bayside properties reaching $200,000. 

Meanwhile, down in League City, a suburb 25 miles southeast of Houston, developer Jerome Karam is building 30 townhouses at the former Marina del Sol off Twin Oaks Boulevard. Karam purchased the 314-slip marina last year for about $2 million.

The project will take shape as six buildings on 2.7 acres. Homes will range from $650,000 to $700,000. 

Sign Up for the undefined Newsletter

And then there are the condos. 

Legend Communities is building beachfront condos at 665 Tiki Drive on the Village of Tiki Island, a suburban outcropping into West Bay near Galveston. The Lakeway-based developer is planning 70 units across two condo towers and eight villas, with asking prices ranging between $1 million and $3 million. 

Homes range from two to four bedrooms and up to 3,000 square feet. Legend previously said the project is set to deliver in summer 2024, though development has reportedly slowed due to recent economic headwinds. 

Then, of course, there is luxury in Galveston. Houston developer Satya is planning Tiara on the Beach, a condo project the developer told the Houston Chronicle is based on Miami’s beachfront developments. The 10-story, 63-unit project at 10525 San Luis Pass Road in Galveston’s West End will have ocean views in every apartment. 

The project will rise on 3 acres, which Satya purchased in 2020, next to Diamond Beach condos. It is one of the first new condo projects in Galveston in about 15 years. Units will ask upwards of $1 million and run between one and three bedrooms, with the largest at 4,300 square feet. 

Tiara is expected to break ground at the end of 2023. 

Read more

Tags
beachfrontDevelopmentHouston