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WATERFRONT EXPERT
Port Aransas/Mustang Island
Condos and Waterfront Properties
This season may be the best time in a long time for buying and selling real estate properties. We have many listed properties and many "back pocket listings" that we hope you will call us about. We have three condo penthouse back pocket listings and a canal front home plus a 2/1 condo just steps to the beach that are all priced at or below market and each one offering shop stopper views. Given the volatile economic market, the best investments today are in real estate! Let's talk.
LOTS OF GOOD NEWS FOR THE LOCAL REAL ESTATE MARKET:
The local real estate market is beginning to be heavily influenced by reports of the proposed new Schlitterbahn Beach Country Village and the proposed new smaller-scale San Antonio River Walk that are being planned for Padre Island and are due to open next year.
If Corpus Christi builds an $8.5 million bridge on the island using funds that augment the $1.4 million bond program approved by voters in the 2004 bond package) Schlitterbahn will build the water park. And that is happening. Mr. Schexnaider, a developer of the project with Schlitterbahn will extend and enlarge the current canal that ends just north of Whitecap to the bridge, crossing SPID at a point near the current 11th green on Padre Isles Country Club.
The canal would flow from Packery Channel through Lake Padre and into the island canal system and connect the Gypsy canal with the bridge. Doing so was recently challenged by some Padre Island residents who claimed the bond program did not include the project as now being planned. However, the Corpus Christi City Council recently voted to approve the needed $1.3 million from reserve funds and the extension project is now back on track.
The waterpark should be ready to open by Spring Break 2013. Paul Schnexnaider, of the Asset Development Corp. owns about 500 acres on the west side of Park Road 22 where the park will be located.
The Council's decision to provide funds to pay to complete the 50 foot wide Aquarius extension means that there will be a new sidewalk, bike trails and a median of about 20 feet through what is now vacant area behind the Padre Island Country Club. The Aquarius extension will connect Aquarius where it now intersects with Dasmarinas on the south to a point that is across Commodores from the existing fire stations. The new section of the road is scheduled to be finished by May 2012.
The 80' wide bridge with an overhead 14' clearance, near Park Road 22, would span a 60' wide canal that does not currently exist, and when built, would include wide pedestrian walkways along the canal establishing the River Walk project. The canal would also provide direct access to the Gulf of Mexico effectively finishing what Packery Channel was supposed to start. Without this, fishing boats would have to travel through the Laguna Madre to Corpus Christi Bay to the Gulf of Mexico .
The plans and the funds for the bridge, approved by voters citywide, are now in place.
The waterpark site has been selected and will encompass some of the Padre Isles Country Club Golf Course. Plans now are to displace nine of the holes on the golf course by the new development with three new holes to be added to the west side of the course.
Once built, Schlitterbahn should add about 300,000 more annual visitors, 3,000 more per day, adding to the 7 million tourists who come to the island each year.
Visiting families will be anxious to enjoy the park but will most likely reserve rooms at the many island beachfront condos rather than at the inner city hotels or condos in Corpus Christi. SO- it is time to consider the purchase of one or more of these condos. Several investors are doing just that and sheltering their hard earned dollars in real estate purchases. One seasoned area investor recently bought 100 condos on Padre Island in anticipation of the increase in business.
BUT_ The eagerly awaited economic bonanza doesn't stop there. The South Texas Eagle Ford horizontal crude oil play in this area is proving to be one of the largest domestic crude oil and natural gas discoveries in more than 40 years. According to the Caller Times, "The Eagle Ford shale, a geological formation, is a 50 mile wide and 400 miles long underground ribbon of oil and gas deposits trending northwest for about 400 miles from the Rio Grande to Central Texas and beyond" covering 24 Texas counties.
Many, many companies are finding huge pools of oil and natural gas. Much of this production has been so successful that the companies are busy acquiring increasing acreage. We shall soon be seeing a substantial increase in the number of wells placed in production this year and in subsequent years. The money being made in this venture is gradually being translated into both sales and acquisition of area real estate and considerable employment opportunities..
A recent oil and gas jobs fair in Corpus Christi scheduled by Eagle Ford Shale industry companies worked to fill 2,300 jobs. Another jobs fair is scheduled for January 30th.
If you drive down the highways and back roads from Austin to this area you will be amazed at the hundreds and hundreds of tractor-trailers, pickups, oil field vehicles, packed restaurants and overflowing parking lots along the way. Lots of money is being made, thousands of new employment opportunities are being created and filled and many new investors are coming to the area, some for the first time, looking for wise investments. In fact, we plan to open a satellite office in Kenedy to capitalize on the growth and development in the area. Sales Associate Peggy Baker will be the Office Manager/ Sales Associate.
Given the uncertain economy today and the volatile stock market, as well as the limited ways we have to invest money for good returns, this may well be the prime time to explore the area's excellent real estate investment opportunities. There are some great opportunities out there for investing in Port Aransas and the surrounding area.
The soft real estate market we have experienced here for some time is beginning to turn around, and given what is happening here, there is still time to take advantage of some good buys. In fact, this may be the BEST time in a long time for you to find some historical bargains, motivated sellers, amazingly low mortgage rates and many more good reasons to think real estate.
We specialize in the island's best waterfront condos and townhomes near or on beach properties, canal front homes and home sites, businesses, acreage and good income properties. Many are priced below or at market. We also have some listings that are not even on the open market so we may be able to help you find what you are looking for that may not be publicly available. With some 40 years of experience in the area's real estate market and as the former two term Mayor Pro Tem and two term Mayor of Corpus Christi, I have the contacts, the experience, and the knowledge to provide you with some invaluable investment ideas and little known information about this market. Why not give me or my great Sales Associate Jeanne Klein a call? Thank you.
---------- Betty
On a final note- I have several back pocket condo listings and house listings- some penthouse units, canal front listings and near beach listings if interested.
ALSO- Check out some of our featured properties and their virtual tours on this website and email us to let us know what you are looking for.
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