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Doug@RECounsel.net
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Principal Activities

The following two projects represent our most recent principal investment activities.

Coconut Grove Residences, Fort Lauderdale, FL

CGR PhotoCoconut Grove Residences is a 64-unit luxury condominium tower built on the beach in Fort Lauderdale, Florida.  The property is immediately adjacent, to the South, of the Marriott Harbor Beach Resort, and provides some of the most spectacular coastline views in all of South Florida.  The land was acquired from a co-op which was home to twenty local families.  Construction began in June of 2005, at a cost of $85 million, and a projected sellout value of $130 million.  The top floor penthouse was sold for $10.5 million and represented the highest valued condominium sale in Fort Lauderdale's history.  Construction was completed in December of 2007, and sales are nearly complete.

Monterrey Village, San Antonio, TX

Monterrey Village AerialMonterrey Village is a 240-acre mixed-use master-planned community, located at the intersection of Highway 151 and Loop 410, in San Antonio, Texas.  The property was acquired in December of 2005 and possessed a mixture of zoning classifications and land uses.  A new land plan was developed in 2006 and entails approximately 1,100 units of multi-family units, nearly 1.0 million square feet of freeway fronting retail, more than 350,000 square feet of medical office, and two limited service hotels.  With new zoning approvals in place, specific plat maps were processed during 2007 for various commercial and residential properties.  The vertical development of those properties is on-going, with a planned build-out value in excess of $300 million, and scheduled completion in 2017.