From time to time the acquisitions team comes across land opportunities in remarkable locations where the company is willing to take additional risk because there exists an opportunity for greater returns.
In certain instances, MLI will partner with municipalities in order to create unique developments that require an experienced mixed use developer. MLI specializes in these types of strategic partnerships in order to create extraordinary communities.
Recently the MLI team completed the rezoning and entitlements for a 1,000 acre tact on Galveston Island in the State of Texas. The MLI team worked with many of the Regulatory Agencies (i.e. U.S. Fish & Wildlife), environmental groups, and several municipal representatives in order to address environmental concerns as well as taking into account concerns from neighbors and the City in the creation of this special ocean front development.
The result is the Preserve at West Beach where over half of the property was set aside as open space resulting in a 4,000 unit approval including Hotel/Resort, high-rise condominium, mid-rise condominium, golf course, ocean front lots as well as some small boutique style retail.