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A hotel and mixed-use development tract on a prime spot in Galveston is up for sale. The 11.6-acre tract adjacent to Stewart Beach is zoned for hotel/condo/residential/recreational use.
Marketed by Marcus & Millichap, 2.4 acres have initially been approved for a 160-unit Residence Inn by Marriott hotel. The site is the only one with direct beach access along Galveston's Seawall Boulevard.
Galveston is an area focused on tourism. Drawing travelers from across the state and Louisiana, the Port of Galveston ranks as the fourth-busiest cruise port in the United States based upon embarkation. Over 1.2 million passengers boarded in 2015, and this number continues to grow.
The University of Texas Medical Branch, which employs over 8,000 people, along with American National Insurance Co., Landry's and Texas A&M University are major private sector employers on the island. Annually, entertainment venues bring hundreds of thousands of people to the island, including events such as Mardi Gras on the Island, the Victorian-themed Dickens on the Strand and the Galveston Island Jazz & Blues Festival.
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