The expansion of the Cinnamon Shore Resort in Port Aransas on Hwy 361 is estimated over a Billion dollars.
The billion-dollar project is underway on Highway 361, out on Mustang Island. Developer Jeff Lamkin says the company plans to sell a thousand homes at an average price of one-millions dollars each, 300 units have already been sold.
Cinnamon Shore is the first all-inclusive new urbanism resort on the Texas coast, and people like it.
Lamkin says he expects demand for the homes to skyrocket, “We’ve got 4,000 renters a year that are coming down, the families are telling their friends. It’s a stable investment for good long-term place.”
The Port Aransas Chamber of Commerce also expects the development to bring more tourists and more revenue to the area.
Cinnamon Shore continues to outsell the rest of Port Aransas, showing a 13% gain at end of 2015, while Port A showed -8%.
Watch news video: www.kristv.com/story/31058509/cinnamon-shore-resort-expansion-is-underway