Work will include public and private improvements on a 21-acre, 162-lot development between the Galveston Country Club and Galveston Island State Park. When complete, the property will have an estimated taxable value of $160 million.
The development’s first phase will include 11 waterfront town houses; a second-level private deck and swimming pool; and 67 covered boat slips.
Existing amenities include Waterman’s Restaurant, a marina, elevated viewing decks and a boat launch.
Public infrastructure is being funded by a city-authorized Public Improvement District. The district allows the Edwards to use tax-exempt bonds to build more than $7 million in public improvements. The development will have $9 million in privately funded amenities.
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