Beacon Island

Beacon Island is a 35-acre, gated island community concept located in the Bay Area of Houston on Clear Lake, equidistant between downtown Houston and Galveston Island. This multi-product development will feature up to 800 luxury primary residences with a distinctive Southern coastal architectural design, marina waterfront lifestyle and the best of contemporary amenities. At build-out, the property is valued at more than $300 million.

Beacon Island is a joint venture between The Verandah Companies and Crow Holdings Realty Partners JV, L.P.

Launch Beacon Island Website | Printable Version | Houston Business Journal

Caceres

Located near Memorial Park in Houston's emerging West End, between Memorial Drive and Washington Avenue just west of Shepherd, Caceres is an 8.3-acre, $80-plus million development of 125 custom homes, villas and townhomes by Rohe & Wright Builders and Yancey-Hausman.. The property was purchased from a local family who had, for many years, used the land to graze Shetland ponies.

Caceres is gate-guarded, with homes in the community surrounding six parks, including an oval central park nearly the size of a football field and featuring a large fountain. The land plan and architecture were inspired by the "pueblos blancos" found in Andalusia in Southern Spain. Construction is by Rohe & Wright Builders and Black Diamond Builders.

Launch Caceres Website | Printable Version | Houston Business Journal

Mosaic on Hermann Park

Mosaic on Hermann Park is a two-tower residential high-rise development located on the edge of Hermann Park near downtown Houston. The two 30-story towers, each with 394 residences, sit astride a seven-story structure of lobbies, parking garages, retail space and shared amenities.

Mosaic was developed by Tampa, Fla.-based Phillips Development at a cost of $203 million. The company originally financed the first tower as a rental property in order to secure funding from lenders who were uncertain about the local condo market. The affordable high-rise units have sold so quickly that development began on the second tower only a few months after the first tower was completed. In August 2007, the developer secured a $141 million loan from Corus Bankshares Inc. to refinance the first building and finance the second one.

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Market Square at Eldridge Parkway

Market Square at Eldridge Parkway is a 68-acre development stretching from Westheimer to Richmond at Eldridge Road in Houston. The site provides space for seven anchor tenants, including SuperTarget, TJ Maxx and Office Depot, as well as 100,000 sq. feet of small tenant lease space and 19 out-parcels for ground leases.

The site was originally divided into two properties. Property Commerce of Houston purchased 48 of the acres from Phillips Westheimer Road, L.P. for undisclosed terms. The other 20 acres was acquired from Amherst Land LP., an affiliated partnership of Richfield Investment Corp., for $13.9 million. Developers had been trying unsuccessfully to consolidate both properties for combined development for many years. Read more in the Business Journal.

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River Park Shopping Center, Sugar Land, Texas

The River Park Shopping Center transaction was one of the largest real estate sales in Ft. Bend County, Texas in 2007. The property, developed by The Ainbinder Company of Houston, was sold to Inland Western Sugar Land RiverPark, LP of Oak Brook, Illinois for more than $70 million. Located at the intersection of U.S. Hwy. 59 and the Grand Parkway, the property lies on 42 acres of land with 385,000 square feet of retail development. The center is anchored by an HEB grocery store and Gander Mountain. Other tenants include LA Fitness, Walgreens, Whataburger, Bank of America, Blockbuster, Chick-fil-A, Chili's, Joe's Crabshack, Saltgrass Steak House, Massage Envy, Smoothie Factory, Sports Clips, TGF Haircutters, Baskin Robins, RE/MAX and Pizza Hut.

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