Seabrook Town Centre construction begins after 3-year delay

Seabrook Town Centre will include a 320-unit apartment complex and 28,500 square feet of retail, restaurants and offices.

SEABROOK, Texas — More than three years after initially expected, construction finally began this month on a 19.5-acre mixed-use development in Seabrook on Galveston Bay.

Seabrook Town Centre will include a 320-unit apartment complex and 28,500 square feet of retail, restaurants and offices, giving the small waterfront town a true urban core.

Houston-based HS Development Group first announced the project after acquiring the property from Santa Barbara, California-based Pacific Ridge in July 2022.

But then development financing became a challenge.

“Interest rates skyrocketed, almost doubled, and the debt and equity markets just froze in our industry,” HS COO Steve Helm said. “So we couldn’t get the project financed until recently.”

The financial situation improved in the second half of last year, and banks came back into the market, he said. HS brought in Dallas-based NHK Real Estate Investments as its equity partner. Houston-based First Horizon Bank provided construction financing for the roughly $85 million project.

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