Sea Oats Group today announced a $1.3 billion, 300-acre expansion of Cinnamon Shore, Mustang Island’s premier new urbanism vacation community, featuring distinctive new home designs and a wide array of appealing amenities.
“Cinnamon Shore North has been enormously successful, with over $200 million in sales, and is now 85 percent sold out,” said Jeff Lamkin, CEO of Sea Oats Group, developers of Cinnamon Shore. “The phase II expansion will take place over 15 to 20 years and will more than quadruple the size of the existing community.”
Over the past decade, Port Aransas-based Sea Oats Group has been one of the most successful developers of coastal properties in any market nationwide, including the Texas Gulf Coast, where the value of its beachfront portfolio is unequalled.
Nestled behind 300 feet of protective dunes and just minutes from Corpus Christi, Cinnamon Shore is the ultimate expression of coastal living. The vibrant, master-planned new urban development on Texas’ Coastal Bend combines elegant housing, work spaces, retail amenities, parks and recreational facilities in a highly livable, walkable seaside resort community. Nearby activities include links-style golfing, unique shopping, parasailing and charters, all effortlessly booked for residents and guests through Cinnamon Shores’ exclusive concierge services.
Sea Oats Group began developing the 63-acre Cinnamon Shore North, phase I of its incomparable Texas Gulf Coast vacation community, in 2007. Its $275 million buildout includes home sales on 200 lots, 75 of which are multi-family residences, with a median price point of $1 million. Single-family homes start at around $636,000 and beachfront homes are priced from about $2.5 million.
The more than 250-acre phase II expansion will encompass Cinnamon Shore South, an $800 million investment, and Cinnamon Shore Bay Shore, projected to be a $500 million buildout. Lamkin said Sea Oats Group envisions four primary pillars of distinction for phase II: (1) home craftsmanship and a lifestyle unrivaled on the Gulf Coast; (2) a dining district with dozens of restaurants to please any palate or mood; (3) enticing destination retail; and (4) a health and wellness center.
Phase II will include a 3,300-foot wide beachfront, maintained daily – almost three times the size of the beach at Cinnamon Shore North. Eventually, the development will lie on both sides of State Highway 361, about a mile south of Cinnamon Shore North, with a golf cart bridge enabling residents to easily access amenities on both sides of the highway. Plans include multiple swimming pools and lakes to provide refuge and enhance the landscape on both sides of the roadway. A key feature of phase II – an approximately 10-acre lake, one of the largest on the Texas Gulf Coast – will be encircled by a mile-long boardwalk. The development will also feature honeymoon cottages, a spa, town centers for retail within each phase and a boutique hotel opening in 2018. Site work is already underway, and Sea Oats Group expects to begin building homes on the property in mid- to late-2018.
“We are proud of the community we have created with phase I of Cinnamon Shore and gratified by how well it has been received,” said Lamkin. “We plan to build on what has been a very successful model with this major phase II expansion. Full details, including the master plan for phase II, will be released later this year.”
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About Cinnamon Shore
Cinnamon Shore is a pedestrian-friendly planned community nestled behind the protective dunes on Mustang Island along the Texas Gulf Coast. It is the first new urbanism development for Sea Oats Group, which is fulfilling its vision of a traditional seaside village with a wide array of amenities and recreational facilities intertwined with beach cottages, luxury villas and vibrant town centers. Every detail of Cinnamon Shore is designed to embrace the natural ambience of Mustang Island and the slow-paced charm of a walking neighborhood. For more information, visit http://www.CinnamonShore.com, and follow us on Facebook, Instagram and Twitter (@CinnamonShore).
About Sea Oats Group
Port Aransas-based Sea Oats Group is one of the most successful developers of coastal properties in any market nationwide, including the Texas Gulf Coast, where the value of its beachfront portfolio is unequalled. The firm is dedicated to creating traditional neighborhood developments that provide residents with the highest possible quality of life, while preserving the integrity of the resort landscapes they occupy. By combining living spaces with retail areas in a walkable, connected plan, Sea Oats Group weaves together beautiful places to live, work and play. For more information, visit www.SeaOatsGroup.com.
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A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/3e4b7de7-e466-4689-940b-5df44e20b275
Attachments:
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/8767ab7b-aa57-4e11-9f30-a7ad9ad6819f
Attachments:
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/19a86574-b83d-4a8d-9682-f2ab4fa70fae