Like much of Texas, the real estate market in Galveston is red-hot and shows no sign of cooling. To that end, a Houston-based developer, Wan Bridge, has announced plans to develop a build-to-rent community in the area. Palm Bay on Galveston Island will boast 94 single family homes in the Bayside at Waterman’s community.
Located at the 4500 block of Stewart Road, Palm Bay is located on Lake Como, an inlet of Galveston Bay that features Galveston Country Club, the only golf club on the island.
Construction is set to begin in December 2020.
Homes will offer up a signature island aesthetic that will evoke the architectural style of other Gulf Coast resort communities such as Seaside, Texas, and Water Color, Florida, according to a press release.
Palm Bay will feature both three- and four-bedrooms options with 2.5 bathrooms and living areas spanning 1,600 to 1,800 square feet. More than 20 condominiums located in the neighborhood’s “Fish Camp Reserve” are also planned.
Seafaring tenants can access amenities including access to the beach and direct access to the bay, plus boat rentals. With Palm Bay’s close proximity to the country club, state park, and Waterman’s Marina and Restaurant, tenants can lead an active lifestyle, without the hassle of homeownership, per a press release.
“Bringing the first BTR community to Galveston Island is an honor that we are excited about,” said Kevin Stuckey, senior vice president of development for Wan Bridge, in a statement. “Whether an island newcomer or longtime resident, we look forward to offering both long-term rental homes and condominiums that are always in demand on Galveston Island.”