Lack of Development

Well Ladies and Gentlemen,

Due to the recent economy, suffice to say, there hasn't been much to post on this blog.

So, I'd like your help. If you know of any developments in your area, please email me (alephew at gmail.com) so you can share the good news with everyone! Now since there is much un-development happening, let's report on that as well.

When I created this blog (my first), I did it to help out my previous employers (condo developers) find localized information. This was to aide them in making purchasing decisions, as well as create bank packages to apply for mezzanine funding. My first blog has stretched it's legs since then.

Let's pool our resources to help those who still want to open business in our communities. Anything that you think will help others succeed, or save them from making a poor choice, send it! Pictures, stories, articles, you send it, we'll post it, and of course provide the source (unless anonymity is requested).

Email alephew at gmail.com

Photographer: Unknown

Mixed-Use Condo in Galveston, Laffite's Cove

Houston Business Journal - by Jennifer Dawson Houston Business Journal

A major league investor group has assembled 35 acres in Galveston with plans to develop high-end condominiums and a new marina and dry-stack boat storage, as well as to refurbish the old Stewart Mansion.

The majority investors are Todd Edwards and Robert Schwartz, who own Houston-based Stonehenge Real Estate Investment Co.

Other players in the deal include Roy Oswalt, pitcher for the Houston Astros; former Astros pitcher Woody Williams; Steve Sparks, former pitcher for the Arizona Diamondbacks; and Houston real estate broker Jimmy Pappas. The all-star investor lineup originated in Houston's Memorial area, where Edwards, Pappas and cousins Schwartz and Williams grew up. Edwards met Sparks at Texas A&M University, where both played baseball. And the men met Oswalt through his former teammate, Williams.

The group is teaming up to develop Laffite's Harbor -- a 35-unit condo project and 104-boat covered sling slip marina on Galveston's west end by Pirate's Cove and Laffite's Cove. Homes in the waterfront community will range from $760,000 for a 1,900-square-foot unit to $1.6 million for a 4,000-square-foot penthouse.

CLICK HERE to read an article in from the Galveston, TX newspaper.

CLICK HERE to read an article in from the Houston, TX newspaper.