A new developer has announced plans for a $250 million mixed-use development on 16 acres of land in Galveston, located just across from the shoreline. The project will feature a variety of food and beverage options surrounding a central courtyard, as well as mid-rise condominiums with stunning views of the Gulf. Additionally, two apartment complexes and a medium-sized hotel will be included in the development.
According to reports from the Houston Business Journal, Mohamed Eldawy is teaming up with an offshore investment group for this venture and hopes to begin construction next year pending necessary permits from both Galveston city officials and the Army Corps of Engineers.
The first phase of development will consist of bars, restaurants, and a 10-12 story condo tower offering 270-300 units ranging between two or three bedrooms each.
In phase two, Eldawy plans to construct both a seven-story hotel featuring 120-150 rooms as well as senior-living apartments spanning seven stories with approximately eighty one or two-bedroom units available.
Finally in phase three comes another addition: A pair buildings housing an additional total number exceeding over nearly three hundred apartments.
