According to Yancey-Hausman senior associate David Crawford, whoheads the firm's land and investment sales division, the propertiesconsist of a 26-acre parcel, an 11-acre tract and five contiguousparcels totaling about 16 acres. Including about 1,600 feet ofseawall frontage with direct views of the Gulf of Mexico, theparcels are zoned for residential, recreation or planneddevelopment use and would support most types of residential andresort uses.

"With its prime location, the Maceo family's property is ideallysuited for significant new development that will further enhanceGalveston's appeal as a resort community," Crawford tellsGlobeSt.com.

Located near 99th Street, the properties are surrounded by newdevelopment and renovation projects, including the $65-millionDiamond Beach Resort to the west and Galveston Municipal GolfCourse, currently undergoing a $14.6-million renovation, to thenorth. Crawford says a recently developed condominium project tothe east has sold out, with units priced at $300,000 to $400,000.The nearby 247-unit Regatta Condominiums are currently selling for$450,000 to $700,000.