| | | | | | | |
|
|
|
|
ZOL SELLS SUNSHINE BY THE SEASHORE
1213 Views ::
12 Comments ::  :: South Padre Island, Investment, Economy |
ZOL SELLS SUNSHINE BY THE SEASHORE
SOUTH PADRE ISLAND (zoldevelopment.com) – Fred Zohouri, an Atlanta-based developer, and Jose Lora, a real estate industry executive, are not too afraid of hurricanes. The two partners of ZOL Development have become large-scale owners and developers of Texas waterfront property with their recent purchase of more than 1,200 undeveloped acres.
ZOL purchased 670 contiguous acres on South Padre Island, including miles of beach and bayfront. The rest of the purchased acreage is in Port Aransas and Corpus Christi on Mustang Island. The developers have in mind two master-planned residential communities called Renace and Deseo. Both will be complete with town centers, offering retail shops, services and restaurants.
Renace on South Padre Island will incorporate high-rise, mid-rise and cabana-type homes. Deseo in Port Aransas and Corpus Christi encompasses a number of separate parcels. It will have a variety of residential designs and community amenities clustered around a mixed-use town center. The two communities will be developed simultaneously, and the developers expect they will exceed $9 billion in total sell-out.
ZOL is opening a sales center in Houston in June as well as on-site centers at Renace and Deseo this fall. |
|
|
|
|
| Comments | |
By
Mike Stuart @
Wednesday, July 19, 2006 7:00 PM | |
This is a testimony to the future of the local market. I'm sure they would not make this large of an investment without a lot of research. |
|
|
|
ByKen @
Wednesday, July 26, 2006 8:34 AM | |
Which tract is this? Or is it south of beach access 6?
|
|
|
|
By
Mark Johnson @
Wednesday, September 20, 2006 2:05 PM | |
Watch out for the Atlanta elimate. This group is being investigated heavily |
|
|
|
By
wasakie @
Tuesday, January 30, 2007 9:07 PM | |
deal is in bankruptcy now |
|
|
|
By
Thomas Finkelstein @
Tuesday, March 13, 2007 4:57 AM | |
anyone have any more info on this. The developer, zohouri, approached us for services as it relates to this property, but we've been doing our diligence and its not coming up pretty. |
|
|
|
By
Eric @
Wednesday, March 28, 2007 6:36 PM | |
|
By
sungoddess @
Thursday, March 29, 2007 12:54 PM | |
FBI is finalizing their case, everything is foreclosed or in bankruptcy, look at Aquatera in FL and all the GA properties, |
|
|
|
By
TP @
Monday, July 30, 2007 12:26 PM | |
CAN ANYONE TELL ME EXACTLY WHERE THIS 700 ACRE TRACT IS LOCATED ON THE ISLAND |
|
|
|
By
host @
Monday, July 30, 2007 12:48 PM |
This 730 acres of land on the north-end of South Padre Island was sold at a live auction on Tuesday, July 24th in Corpus Christi for 81.5 million dollars by a group from Dubai.
The development site, situated three miles north of the city of South Padre, encompasses the full half-mile width of the island and provides approximately 7,785 feet of beachfront footage along the Gulf of Mexico and the Laguna Madre Bay. South Padre Island is a 34-mile long barrier reef island at the southernmost tip of the Texas Gulf Coast.
The Dubai group will be able to establish all zoning and master planning, which could include uses such as mixed-use, high-rise condominiums, multifamily, single-family, entertainment, lodging, recreation, marina and retail pad sites.
There wasn't a problem with the land. The developer went bankrupt on a corporate level because of cash-flow difficulties. He simply didn't have enough cash with all the investments he had around the country. |
|
|
|
By
host @
Tuesday, July 31, 2007 10:42 AM | |
Zohouri wasn't having difficulties, they were committing FRAUD. They are selling everything everywhere on every level because they finally got caught. |
|
|
|
Bygene price @
Friday, April 18, 2008 2:20 PM | |
I WANT TO GET THE CONTACT INFO FOR THE DUBAI GROUP , DO YOU HAVE IT OR KNOW WHERE I CAN GET IT. |
|
|
|
By
hostest @
Friday, May 02, 2008 3:16 PM | |
For info try Ahmad Ghiasy in Dubai City. He is the backer of the relocated Zohouri development company there iand in Abu Dabi |
|
|
Click here to post a comment |
|
| | | | | | | |
|
|