A developer has purchased two parcels totaling over 1,200 acres of prime, undeveloped waterfront property on the Texas Gulf Coast.
One of the sites, totaling 554 acres, is located throughout several parcels of land in Port Aransas and Corpus Christi on Mustang Island, and features miles of waterfront land.
The second site, totaling 672 acres is a contiguous parcel of land located on the northern tip of South Padre Island and features miles of beach and bayfront.
The purchase makes ZOL Development one of the largest landowners of Texas waterfront property.
ZOL will develop two separate, large-scale master-planned residential communities called Renace and Deseo which will be complete with town centers, offering retail shops, services and restaurants. The two communities will be developed simultaneously, and exceed $9 billion in total sales.
Renace, on South Padre Island, is a contiguous parcel and will incorporate high-rise, mid-rise and cabana type homes. Long recognized as one of the world's premier beach destinations with lush unspoiled dunes, South Padre Island lies between the Gulf of Mexico and the Laguna Madre Bay near Brownsville. The carefully selected variety of residences will enrich the overall environment, with a special focus on maintaining the area's natural beauty.
Deseo, located on land in Port Aransas and Corpus Christi, on Mustang Island, encompasses a number of separate parcels, and will offer just as broad a variety of residential designs and complete set of community amenities, clustered around a mixed-use town center.
In both Renace and Deseo, the options for residential living are numerous. Owners may choose from several types of condominium residences located throughout each development. Single-family home buyers can purchase a home site and have the option of choosing from a portfolio of custom designed homes or selecting their own design team from a list of approved architects and builders.
"We expect to move ahead very quickly with our development plans for both of these exceptional communities on the Gulf of Mexico," said president Jose Lora. "There is no doubt that both of these master-planned communities will further the concept of North America's third coast."
Lora added: "With the economies of scale we will generate developing such substantial developments simultaneously, we are confident that our price points will be extremely competitive when compared with similar Gulf Coast communities from Florida to Texas. Deseo and Renace will simply offer the same lifestyle, for less."