web analytics

Megatel Homes Begins Construction of $2 Billion Lagoon Community in Houston

Feature Illustration: Rendering of the lagoon anchoring Megatel Homes’ AnaCapri development in Anna.

Posted: 6-16-2022

Houston (Harris County)Megatel Homes LLC, one of the largest private homebuilders in the nation, has announced it has broken ground on Saint Tropez, a world-class  lagoon community. 

It will be one of 12 master-planned lagoon communities with resort-style amenities in development by Megatel. Pre-selling of the first phase of Saint Tropez is expected to begin within the next 60 days.

“Lagoon communities have proven to be an extraordinarily popular residential option throughout Texas, with heavy demand for these amenity-rich developments,” said Zach Ipour, co-founder. “As a result of this significant demand, Megatel is pursuing the development of a dozen such communities throughout Texas and expanding to other states.”

The $2 billion Saint Tropez residential community spans over 1,000 acres and will feature an enormous man made lagoon with white sand beaches and luxurious amenities for the whole family to enjoy including paddleboarding, kayaking, a swim-up bar, FlowRider surf simulator, a water slide tower, a playground, cabanas, a soundstage, a splash park, and much more. 

The new community’s entertainment district will offer residents and the public a restaurant, bar, adult lounge, teen arcade, bowling alley and a children’s immersive indoor play area. 

Residents will also have access to additional amenities that include a fitness and yoga studio, event spaces and a home design center to choose design selections for their future home.

The lagoon community will include 4,500 single-family lots and multifamily units. Single-family homes will range in size from 1,500 square feet to 4,000 square feet and sell for between $350,000 to $700,000 each. 

Multifamily rental units will include one-, two- and three-bedroom options with rental rates expected to begin at $1,200 per month.

This development is part of Megatel’s plan to accommodate exponential growth in the Houston area. 

“Megatel Homes has been searching for the optimum opportunity to gain re-entry into the Houston housing market,” added Ipour. “We are excited to bring this revolutionary residential experience to the Houston area.”

Megatel was able to acquire the land for this development at a reasonable price, as the value of the land has nearly doubled since purchase. Megatel is also able to significantly expand operations due to the unique financing structure through MCI Invest.

Phase I of the Saint Tropez development is expected to be completed by the first quarter of 2023.

Edited from news release.


art@virtualbx.com

Related Images

Industry News
By |2022-06-16T20:33:46-05:00June 16th, 2022|Feature Story, Industry News|

About the Author:

Art Benavidez (Construction News Reporter, Central Texas) is a seasoned journalist with over 15-years of experience in writing breaking news and in-depth features at the local level. He honed his research and reporting skills in newspapers and magazines throughout South and West Texas along with expertise in crafting digital content as Managing Editor of New Image Marketing Research Corporation. Benevidez is a Texas native and graduate of UT-RGV.

Leave A Comment