Luxury towers adding new dimension to coastal skylines

By Carrie Alexander
SPECIAL TO THE AMERICAN-STATESMAN
Sunday, March 02, 2008

Condominium developers along the Texas Gulf Coast are doing something strange these days: They’re continuing to build.

As a housing slump grips much of the nation, beachfront development in long-hot locales such as Florida and California has g

round nearly to a halt. But the real estate market on the Texas coast — and specifically, the condo market — has managed to stay strong.

“We did feel the downturn, but not the devastation some markets have had,” says Alice Donahue, a real estate broker who o

perates TexasGulfCoastOnline.com, a site that tracks real estate trends in the area.

Jim Gaines, a research economist at the Real Estate Center at Texas A&M University, says that while the national credit crunch has had an impact on the Texas Gulf Coast condo market, most developers “still feel things are pretty good.”

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Tags: building, condos, real estate, where to buy //