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El Lago has
the charm of being a very small town with its own police force
and mostly single family homes with large lots. It is perhaps
the smallest and most charming community on the lake. The larger
site is the only site on the entire lake with water views to
both the north, (Taylor Lake), and to the south, (Clear Lake).
In addition, both my sites in El Lago have existing marinas. Our
target market is the active empty nesters and baby boomers who
want to live the good life on the waterfront. The close
proximity to the two currently expanding medical centers, the
Johnson Space Center, downtown Houston, Galveston, Kemah
Boardwalk and Hobby airport make this the ideal location.
We are seeking either a joint venture equity partner or a
participating pre-development loan. The two developments can be
packaged together or separately. It is my desire to develop 4011
NASA Rd 1 first, because of the existing water and sewer
entitlements, the lower cost of construction, timing and
affordability. The larger site is the more spectacular site, but
has more complex architectural issues, and is best suited for
high-rise development. |
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