Residences at Tiki Island’s prospective condominium buyers can now visit the future development to pick their desired floor plans and designs as the developer prepares to break ground.
Houston-based Nan & Co. Properties set up a mobile sales gallery in the roughly 1,000-resident island community outside of Galveston. Austin-based developer Legend Communities expects to break ground on Phase 1 of the more than $70 million Residences at Tiki Island this summer after securing funding through more condo sales. Completion is expected by summer 2024.
The condominium community will consist of a six-story building with a total of 70 two- to four-bedroom condos, ranging from 1,200 to more than 3,000 square feet. That includes 15 two-story penthouse units with optional elevators, ranging from 2,000 to just under 4,000 square feet.
The condos start in the $800,000s. Amenities include a fitness center, pool with outdoor kitchen and barbecue grills, and a dog park.
Since the community was announced last summer, several condos have been reserved for purchase, and there’s a waitlist with more than 400 potential buyers, Nan Properties said.
Those on the list were given first opportunity to schedule one-on sales presentations at the gallery, which is open five days a week, said Betty Harbourt, executive vice president of Nan & Co.’s Nan Properties Developer Services division.
“We have a dedicated specialist who is selling the residences,” she said. “It takes about an hour and a half to go through a very specific presentation about what we’re building, about the
floorplan options that we have, the finishes, and working one-one with interested buyers.”
The sales gallery is open Wednesdays through Saturdays from 10 a.m. to 6 p.m., Sundays from noon to 5 p.m., and by appointment Mondays and Tuesdays. Appointments can be scheduled online at
residencesattikiisland.com/schedule-appointment.
Harbourt said interested buyers include some current Tiki Island residents, who may be ready to move into a newer home. This is the first new development on the small island in 14 years, she said.
Harbourt expects to have sold all condos within the next six to eight months.
Round Rock, Texas-based PLACE designers inc designed the condos.
Phase 2 of the 6-acre development includes eight elevated, two-story single-family villas just under 2,000 square feet in size and priced around $1 million. Also part of the development is a marina and boardwalk with a 5,000- to 7,000-square-foot restaurant and ship store as well as a boathouse for up to 200 boats with valet service.
Legend Communities COO Bill Hayes hopes Phase 2 will be able to break ground by summer 2023. When the company initially announced the development in April 2020, the plan was to start construction on the condos in summer 2021, but Hayes acknowledged that was an “overly optimistic timeline.”