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5/02/24
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Satya has secured $100 mil in construction money for construction of Tiara on The Beach, a 63-unit condo project in Galveston, TX. The loan is being funded through International Bank of Commerce. The 10-story development represents Galveston’s first new condominium on the Island in more than 15 years.
Tiara on the Beach will be a limited collection of 63 luxury Gulf-front residences located on Galveston’s West End, at 10525 San Luis Pass Rd. Each light-filled residence features 10 to 11-foot ceilings and flexible floorplans ranging from 1.7k sf to 4.3k sf. Upscale finishes and quality craftsmanship will set a new standard for quality on Galveston Island.
Extensive resort-style amenities include a negative edge resort-style pool, outdoor grilling, a state-of-the art fitness center with a yoga studio, pickleball courts and private walkways to 300 linear feet of beachfront. There is a game room, a media room, wine tasting room and climate-controlled storage units for every resident.
PLACE Designers is the architect of record for the development project, and Ludlow & Associates will serve as the general contractor. Dune construction for the luxury condominium project has been completed and the project is slated to break ground in summer 2024.
Prices for the units are expected to start at $1.2 mil. Marketing is being handled by Nan Properties Developer Services.
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