[Wattleigh]

Galveston

https://www.bizjournals.com/houston/...t-seawall.html

The 16 acres for Royal Crown Enterprise's $250 million mixed-use development are part of more than 50 undeveloped acres next to Courtyard and TownePlace Suits by Marriott Galveston Island at the western end of Seawall Boulevard.

LEE & ASSOCIATES

Local businessman plans $250M mixed-use development in western Galveston

By Florian Martin – Reporter, Houston Business Journal
Jan 29, 2024

A Friendswood-based financial adviser is planning a $250 million beachside mixed-use development in west Galveston for his first commercial real estate project.

Mohamed Eldawy, through his new company, Royal Crown Enterprise LLC, last month purchased about 16 acres on the western-most edge of the Seawall from members of the Maceo family, a famous Galveston clan that goes back to the island’s gambling and bootlegging era of the early 20th century.

The mixed-use development will be adjacent to Courtyard and TownePlace Suits by Marriott Galveston Island.

It will include restaurants and other food-and-beverage concepts around a courtyard, midrise condos with Gulf views, two apartment complexes and a midsize hotel, Eldawy told the Houston Business Journal.

The hope is to start construction at some point next year after securing necessary permits from the city of Galveston and the Army Corps of Engineers, which has regulatory control over the properties, part of which includes wetlands.

“It's going to be something different from anything else in Galveston,” Eldawy said. “It’s something really the city needed and the public needed.”

Phases of the mixed-use project

The project will be developed in phases, he said. The first phase will include bars and restaurants and a 10- to 12-story condo tower with 270 to 300 two- and three-bedrooms units.

The height for the buildings will depend on clearance from the Federal Aviation Administration, Eldawy said, because of the property’s proximity to Scholes International Airport.

For the second phase, Eldawy plans to build a seven-story hotel with 120 to 150 rooms and a seven-story senior-living apartment tower with 80 one- and two-bedroom units.

The third phase will be a two-building, 270-unit apartment complex. Among the amenities will be a swimming pool, gym, sports courts, media rooms and a meeting room.

Royal Crown Enterprise has engaged an architecture firm and marketing team, but Eldawy was not ready to name them.

The company purchased another 15 acres of the Maceo property adjacent to Seahorse Grill on Termini-San Luis Pass Road and across the street from Diamond Beach Condos in October 2021.

Royal Crown owns the property together with a partner that is based overseas, Eldawy said. While he declined to provide details, he said the vision may include a big resort hotel.

The mixed-use project is the first development for Eldawy, a financial adviser whose other companies include Royal Crown Wealth and Royal Crown Insurance Agency. A third, Royal Crown Property Management, is set to launch later this year.