$540M Galveston Project Under Review
Sachs on the Seawall, a $540 million development project in Galveston, will learn its fate at the end of an upcoming Galveston Planning and Zoning Commission hearing.
The new development is set to feature a 216-room Marriott Renaissance Hotel, 150 luxury condominiums and 236 apartment units. It will also offer 70,000 square feet dedicated to retail and dining, complemented by four acres of public green space for community enjoyment. If approved, Sachs on the Seawall is poised to generate more than 2,300 jobs.
The applicant is Mohamed Eldawy with Royal Crown Investments. The architect is Steven Biegel, with PLACE Designers who has designed notable nearby projects including Diamond Beach, Tiara on the Beach, Ocean Front Resort, and others along the Texas Gulf Coast. If approved, the groundbreaking could come as soon as December 2026, and the first phase could be completed in 2029.
Missed hearing from the top developers, investors, owners, lenders, forecasters, and dealmakers that took the stage at Connect Texas Multifamily? Recordings of the event’s panel discussions are now available to purchase and watch on demand! Get access to the videos today for only $59 and get the market-shaping insights that were shared by Texas’ top names. How Distress is Rewriting the Texas Playbook | Buy, Build, Sell, Hold | Multifamily in Transition: Owner & Operator Perspectives | Navigating Multifamily Dealmaking Today | Texas Market Outlook: Economic Drivers & Regional Dynamics
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout