A JV of Oldham Goodwin Group and MGroup is moving forward with a new multifamily project in the Lago Mar Development in Texas City.
Catalon at Lago Mar will be a 230-unit Class-A community at 6130 Lago Mar Blvd. The JV is attempting to benefit from the growth of the area, which is near Tanger Outlet Mall, planned retail, and a new 35-acre amusement park that features mini-golf, an outdoor ice skating rink, a water park, a boardwalk and an entertainment venue.
Founder of MGroup Mark Musemeche tells us this project is one of the first Class-A multifamily developments in the area. Most of the comparable products are four or five miles north, up toward League City.
Oldham Goodwin’s development services division will oversee the development and construction management and FCI Multi-Family Construction has been tapped to oversee construction.
The development will break ground on Feb. 1 and should complete in Q1 2017.
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