All kinds of development is taking place around Port Aransas right now, according to city hall and folks in the real estate industry. Port Aransas Real Estate (see homes for sale) residential home development is booming, and some sizeable changes are poised to take place on commercial properties along State Hwy. 361.
When building permit valuations hit $795,400 for January 2005 alone, city officials saw that as something of a boom. But valuations for January last year were more than three times bigger, at $2,837,537, according to Port Aransas City Hall and January this year mushroomed even larger, with permit valuations topping out at $5,533,823. Most of it has been for residential construction, said City Manager Dave Parsons.
Title companies are very busy due to increase growth factors such as low interest rates and the oil and gas drilling from the Eagle Ford Shale project. People are more confident in their real estate investing for the long term. Many people come to Port Aransas because they like the community and the beach and fishing, so they’re investing.”
In other development news, development firm of Koontz McCombs appears to be in the process of purchasing Newport Dunes Golf Club, a 36 hole Arnold Palmer Signature links course located across from the Port Aransas Realty ofc. on hwy. 361.
Koontz McCombs was founded in 1997 by San Antonio businessmen Bart C. Koontz and Billy Joe “Red” Mc- Combs. McCombs is a billion- aire who is co-founder of Clear Channel Communications, owner of the Red McCombs Automotive group and former owner of the San Antonio Spurs. He has various interests in energy and real estate.
Further down State Hwy. 361, reports indicate that ground likely will be broken within the next few months on the planned Schlitterbahn water park on North Padre Island. The 65-acre resort is to be built west of Park Road 22. This will have a significant impact on condo and homes sales in North Padre.
Schlitterbahn could boost tourism in Port Aransas, with visitors coming to the area for the water park and staying in Port Aransas lodgings, or traveling here mainly for Port Aransas attractions and staying an extra day to visit Schlitterbahn.