GALVESTON – (Realty News Report) – Austin-based developers Legend Communities and Tiki Time, LLC have announced plans to develop Tiki Island Residences and Boathouse Resort near Galveston.
The 6-acre project on Tiki Island be an upscale residential community with 80 residences, a yacht club and boathouse resort.
“This is a highly desirable location because The Village of Tiki Island does not allow any vacation rentals on the island, preserving the integrity of the property and making it the premier place to live and call home,” said Ron Cooper, owner of Tiki Time, LLC.
The developers are currently finalizing the site plan and conceptual design for the development.
Current plans for the resort community include:
‒ 75 condominium residences ranging from 1,500 to 1,700 square feet on five levels above an
elevated podium deck;
‒ five penthouses ranging up to 3,600 square feet each on the top two floors;
‒ a 5,500-7,000-square foot waterfront restaurant with indoor and outdoor seating;
‒ a waterfront ship’s store with retail space;
‒ marina rental slips and guest slip area for the restaurant and ship’s store;
‒ a boardwalk and pedestrian site for neighborhood connectivity;
‒ a boathouse structure that will house up to 220 boats on four levels; and
‒ parking for cars and golf carts.
Steven Biegel, architecture department director of Place Designers, will oversee the project’s site planning, architecture and redesign including landscape design. “This is the last remaining piece of waterfront real estate on Tiki and will be a flagship development,” said Biegel.
Tiki is a lacework island between Galveston and the south Texas coast.
The Village of Tiki Island, a town of only 1.5 square miles, is largely a man-made island located on a tiny peninsula in Jones Bay, five miles north of Galveston and only 45 miles south of downtown Houston via I-45. Originally a small fishing camp, Tiki Island evolved into a place for weekend homes, then into a village that was incorporated in 1982. It is comprised of upscale, primarily waterfront homes. In 2018, Tiki Island had a population 1,068 and 482 households, many of whom are affluent retirees and second homeowners.
The price for condominiums in the Tiki Island development will start in the $600s.
Developers estimate phase I of the project, which includes the boathouse and waterfront restaurant, will break ground by Fall 2020. The project’s residences are expected to break ground in Summer 2021.
Legend Communities develops single-family residential, multifamily, active adult communities and commercial projects in Texas, California and Colorado.
Haythem Dawlett, founder of Legend Communities, possesses extensive expertise working with property development agreements, particularly those with a waterfront element. Legend has developed a number of high-end residential properties in Texas, including Rough Hollow Lakeway, Tuscan Village Lakeway and Tuscan Village at Horseshoe Bay.
The Tiki Island resort will be Legend’s second project in the Galveston area. The company also developed 500-acre Harbor Walk resort community in Hitchcock.