Condos Catching Galveston Breezes and Buyers

Houston Business Journal, July 21, 2006, by K. Pica Kahn

Angela Brown, spokeswoman for the Downtown Strand Partnership, confirms what others have seen - that the Island City is booming. The industry is hot right now for both new and resell, but it seems that what people really want are high-rises. As historic as Galveston is, there is also a desire for new modern high-rises right on the beach. For the first time in almost two decades such a project is under way. Palisade Palms, a high-rise development which is 85% sold out, is located on East Beach. With two 27- story modern curvilinear towers designed to provide each condominium with panoramic views of the Gulf of Mexico and Galveston Bay, the 288 units, valued at approximately $167 million, range from 1,044 to almost 3,000 square feet. After seeing the effects of the fierce 2005 hurricane season, buyers appreciate the benefits of high-rise ownership on the East End of Galveston's shoreline.