Galveston’s 1000-acre Pointe West sells for $1.65M

GALVESTON – The 948-acre Pointe West resort and residential development on the island’s western tip has been purchased at a foreclosure auction for $1.65 million by CRVI HPW TRS Inc., a wholly owned subsidiary of Cypress Real Estate Advisors.

Pointe West consists of 948 acres, 300 of which are developable. The original developer, Centex Corp., had planned more than 1,000 houses and condos. So far, about 252 condominium units, 57 cottages and 15 custom houses have been built at the property.