Exclusive: Luxury home island in League City up for sale again
Beacon Island, a man-made island in Houston’s bay area long planned for luxury homes, is up for sale again.
ARA Newmark Houston has listed the 35-acre island, which sits at the end of Lighthouse Boulevard off FM 2094 in League City. The island, which juts out into Clear Lake, is near the South Shore Harbour Resort and Conference Center.
Since the 1980s, several developers have sought to build a high-end southern coastal village on Beacon Island.
The island was originally developed by South Shore Harbour Development Ltd., an affiliate of American National Insurance Co., which developed the 2,200-acre South Shore Harbour master-planned community in League City. At the time, the island was called Lighthouse Island, named for a 1983 replica of the Cape Canaveral lighthouse in Florida that sits on the north tip of the property.
In 2006, the island was purchased by a joint venture between The Verandah Cos. of Houston and Crow Holdings Realty Partners IV LP of Dallas. At the time, the joint venture worked with Ziegler Cooper Architects of Houston to envision a Carolina-style community with homes from $300,000 to $3 million as well as a boardwalk promenade, boat slips, a large interior park with meandering trails and streets lined with gazebos and fountains. The former owners constructed the perimeter bulkhead, promenade, streets and underground utilities, but they were unable to complete the project amid the Great Recession.
First Bank of Missouri took possession of Beacon Island in the summer of 2010 as part of a settlement with Verandah. A year later, the island was purchased by Isola Ventura LLC, led by luxury homebuilder Murphy Yates, president of League City-based Harbour Classic Builders.
There are four luxury homes built on Beacon Island, with one home still under construction. The island is zoned for 37 waterfront homes, 32 patio homes, 95 townhomes, 301 midrise condo units and 385 high- rise condo units.
Beacon Island can also accommodate up to 80 boat slips as well as individual docks for homeowners. There are no commercial plans for the island.
Interested buyers can purchase up to four sections of the island: multifamily on the east side, townhomes in the center, patio homes on the center-west side and waterfront homes on the west side. A listing price was not issued.
Paul Takahashi – Reporter
Houston Business Journal