Galveston Plaza will break at the end this month or early May, Duke Carrigan with the Houston office of Minneapolis-based NorthMarq Capital Inc. tells GlobeSt.com. The retail project, which will include restaurants, is positioned in a trade area with the University of Texas Medical School at Galveston. The plaza will deliver in early 2004 while Sunhill weighs whether to use part of the land for a student housing project aimed at the medical center community.
Carrigan says the land, which is located along the Seawall at the intersection of University Boulevard and Broadway, was bought from Houston-based Bunker Hill Developments. Carrigan and Jay Nowlin, former vice president with NorthMarq, arranged the construction and acquisition loan, which carries an 18-month term.
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