LAGUNA ISLES DEVELOPMENT

Transcription

1 DEVELOPMENT FOR SALE LAGUNA ISLES DEVELOPMENT State Highway 361 South of Downtown Port Aransas, Texas ACRES MIXED-USE DEVELOPMENT planned SF lots, most with bay or golf course frontage and a condo site for 120 units. + Located in Port Aransas, Texas in the heart of the Texas Riviera + Within a 4 hour drive of more than 12 million residents + Close proximity to major destinations: + Gulf of Mexico beaches: 1/2 mile + Central Port Aransas: 2 miles + Corpus Christi: 40 miles CONTACT US CARTER BREED Vice President carter.breed@cbre.com HUNTER BARRON Associate hunter.barron2@cbre.com

2 OFFERING SUMMARY PROPERTY DESCRIPTION Laguna Isles is a proposed canal-front development located in Port Aransas, Texas in the heart of the Texas Riviera The project is located around and across State Highway 361 from the well-regarded Palmilla Beach Golf Club. The development plan includes 300 single-family lots (typically 65 x100 ) and pads for 120 condominiums. Total land area for the proposed lots and condominium sites is +/ acres. Many proposed lots will have unobstructed views of Corpus Christi Bay, some are fairway front, and the majority are waterfront lots on an extensive proposed canal system. Laguna Isles, formerly known as Newport Landings was the Jewel in the Crown in the former Newport Beach and Golf master-planned community. The balance of the development along with the golf course, which is managed by Troon Golf, was purchased by Texas billionaire investor Red McCombs and renamed Palmilla Beach Resort and Golf Club. LOCATION The project is located on the west side of State Highway 361 and within a five-minute golf cart ride to the beach, marina, and restaurants and ten minutes to the shopping and extensive dining experiences of Port Aransas. Laguna Isles is located within easy access to major metropolitan areas in Texas containing well over 10 million people. It is less than 45 minutes from Corpus Christi (with a metropolitan area population of 450,000), 2.5 hours from San Antonio (2.4 million), and 3.5 hours from Austin (2 million) and Houston (6.6 million). Laguna Isles is located on Mustang Island in Port Aransas. Mustang Island is an eighteen-mile long barrier island that is connected to the mainland in the south by a causeway and to the north by an extensive ferry system. Port A, as it is commonly referred to, is one of the most desirable waterfront destinations on the Texas coast for vacationers, young families, and those seeking a vibrant retirement. AREA AMENITIES Port Aransas is a world- class fishing village and the only established town on Mustang Island, occupying eight miles of the 18 -mile long barrier island. Originally known as Tarpon, there are a number of fine restaurants, interesting shops and marinas. Port A is considered one of the three best beaches on the Texas Gulf Coast, along with Galveston and South Padre Island. The Port Aransas Ferry transports cars to Aransas Pass on the mainland daily 24/ 7. Each of the six ferry boats can transport 100 cars an hour. A causeway provides access from the south. The Mustang Beach Airport is a city- owned facility with a lighted, 3, 500 -foot runway that serves private aircraft. The full-time population of Port A is approximately 3,900 however, with great fishing, shelling, birding and beaches, the seasonal population swells during the summer months. An estimated 2. 5 to 3 million tourists visit Mustang Island annually, making it one of the most popular vacation spots in Texas. Most visitors come from San Antonio, Houston, Austin and Dallas- Fort Worth. Residents and visitors enjoy a year-round calendar of special events, as well as a number of community parks. Roberts Point Park, alongside the ship channel is a great fishing spot that hosts summer concerts and soccer games with magnificent views of passing ships, boats and ferries. Live stage productions are featured at the Port Aransas Community Theatre and the Port Aransas Museum offers unique views of the early days.

3 OFFERING SUMMARY ENTITLEMENTS The current ownership of Laguna Isles has received a wetlands determination from the US Army Corps of Engineers and has extensive plans for the construction of 300 canal-front and golf-course lots as well as for 120 condominium units on the southern portion of the site. OFFERING The ownership is seeking a partner or purchaser of the proposed development, in part or whole. DISCLAIMER The information contained herein was obtained from the Owner and from other sources deemed reliable. CBRE, Inc. makes no warranty, either express or implied as to the accuracy of information contained herein. Prospective purchasers should investigate the Property and its development suitability on their own.

4 AERIAL

5 REGIONAL DESCRIPTION Geographically, South Texas is generally regarded as everything south of San Antonio, framed by the Rio Grande running the state s western boundary and the Gulf of Mexico forming the eastern boundary. Three of the top five fastest growing cities in the U.S. are in South Texas; Houston, San Antonio and Austin. Corpus Christi is the next largest city in South Texas with approximately 280,000 people. SOUTH TEXAS Fishing is an important commercial and recreational activity in the Gulf. Offshore drilling rigs can also be found along the Gulf, as the continental shelf provides vast amounts of accessible oil. The majority (approximately 80%) of oceanfront property along the Texas Gulf cannot be developed, as it is comprised of federal and state parks, and includes approximately 150 miles of the Coastal Barrier Resources System. This represents a significant barrier to entry for future projects being contemplated along the Gulf. Regional transportation needs are met by a freeway network that includes Interstate 37, U.S. Highway 77 and U.S. Highway 59 which connects with Laredo to the southwest and Houston to the northeast. The city is accessed by two major bridges: the Harbor Bridge and the John F. Kennedy Causeway. Corpus Christi International Airport is situated five miles west of the Corpus Christi central business district and is owned by the City of Corpus Christi. The airport offers two runways, six gates and three major airlines (American, Continental and Southwest). The quality and affordability of oceanfront real estate in Port Aransas is one of the primary reasons people from all over the world who want a safe, relaxed lifestyle are buying primary and second homes on Mustang Island. Easy access to Texas major metropolitan areas, combined with clean beaches and excellent recreational amenities make Port Aransas and Mustang Island the preferred Texas location for coastal living. The area is particularly attractive to sport fishermen, given the abundant stocks of popular gamefish. RESIDENTIAL MARKET The vacation home market on Mustang Island and the Texas Gulf coast is closely tied to the major Texas markets of Houston, Austin, San Antonio and Dallas. The relative price stability in these markets has helped them avoid the extreme highs and lows seen elsewhere in the Country. Demand for quality residential development in the Port Aransas area along State Highway 361 has remained steady over the last several years. While there are a number of condominiums and small vacation home developments in the area, Laguna Isles primary competition comes from two nearby developments: The Palmilla Beach & Golf Club and Cinnamon Shore. Laguna Isles is also adjacent to the completed Island Moorings Canal and Marina Subdivisions.

6 REGIONAL DESCRIPTION CORPUS CHRISTI Corpus Christi is the county seat of Nueces County and overlaps into adjacent counties. The Port of Corpus Christi is the sixth largest U.S. port and the deepest inshore port on the Gulf of Mexico. The Port s primary trade includes oil and agricultural products. Due to its proximity to the bay, a large part of the local economy is fueled by fishing and boating services and retailers. Tourism and military also drive a significant portion of the economy. Corpus Christi is located just inland from Mustang Island, which stretches from the Corpus Christi area to Port Aransas. The southern part of the Island is designated as a state park. Padre Island is the world s longest barrier island. It occupies approximately 209 square miles and stretches approximately 130 miles long. Some of the most visited attractions in Corpus Christi are located on North Beach including the Texas State Aquarium and the USS Lexington. Other attractions include The Corpus Christi Museum of Science and History, the Texas Surf Museum and the South Texas Institute of Science and History. There are a number of professional sports teams in the area. The Corpus Christi Hooks play professional (AA) baseball, the Corpus Christi Ice Rays play professional hockey, the Corpus Christi Fury play professional arena football, and the Corpus Christi Crabs play professional rugby.

7 DRIVE-TIME MAP + Drive-Times: + San Antonio to Port A 175 miles; about 2.75 hours + Austin to Port A miles depending on the route; about 4 hours + Houston to Port A miles; about 3.75 hours

8 LAND PLAN

9 USACE WETLANDS DETERMINATION

10 USACE WETLANDS DETERMINATION REVESSER NEWPORT LANDINGS WATERS OF THE UNITED STATES

11 CONTACT US CARTER BREED Vice President HUNTER BARRON Associate CBRE, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners.