The Jerome Karam Houston Real Estate Empire Expands with Big News for League City  

The Old Galveston and League City communities are about to see some big changes to apartments, changes led by Jerome Karam, Houston real estate developer and attorney.

Karam (who some say now owns the most amount of commercial property in the county) has recently acquired a couple of new properties that he intends to breathe new life into.

The two apartment buildings were purchased at 717 and 725 Broadway, a couple of smaller Galveston apartment buildings that haven’t been touched or redeveloped in some time.

Karam says that he has plans to transform these units into shorter-term rentals when the original leases expire, moving through a transition process. He’s also committed not to kick anyone out before the leases officially eclipse.

The odds are good that those involved in the real estate world will recognize the name, Jerome Karam. Houston properties have been overhauled by this developer for some time, including a couple of major projects at some landmark locations.

Not all of these projects make the news, but there’s one development that the community associates with Jerome Karam. Houston has a lot of older buildings in need of renovation, but none have been as successfully rehabbed and repurposed the way the Falstaff Brewery on Church Street has been.

Before taking over the property, the building had been allowed to deteriorate significantly over years of misuse and neglect. Karam invested a tremendous amount of money and resources into the building, overhauling it from top to bottom and transforming the space into an event center with storage.

More development is happening at that property as we speak, with a team of contractors establishing a boutique hotel on the site. Plans for apartments to be added are in the works as well, with this sure to be another home run for the Jerome Karam Houston real estate empire.

In Old Galveston East, and is focused on transforming the older apartment properties into shorter-term rental options. A lot of this is driven by the popularity of platforms like Airbnb, but the proximity of these rentals to the beach as well as the University of Texas – Medical Branch makes them picture-perfect for nonpermanent residents of the community.

Each of these units is intended to have a unique theme that fits perfectly with the Old Galveston community, its history, and its tradition while at the same time enjoying significant upgrades and updates across the board.

League City Luxury Apartment Project Underway

There had been rumors floating around the real estate community that used in-based developers or making a big splash in the League City area, with most of the talk surrounding what was proposed as a luxury apartment development that was going to land near Pinnacle Park.

Well, we can now safely say that those rumors look like they have some significant legs!

An announcement from the League City Council made mention of a major new 300+ luxury apartment complex being developed in the area near Pinnacle Park – a project intended to be led by David Hoover, the director of planning and development.

Some in the community aren’t crazy about the idea of new luxury apartments being built near Pinnacle Park, instead of hoping that more multifamily units were going to start popping up in League City.

Unfortunately, the reputation that League City has as being slightly hostile to multifamily developments is going to get a bit of a bolstering with this decision.

The Council says that they don’t want those kinds of properties for fear that it would attract crime, depress property values, and generate a lot more traffic and have decided instead to move forward with this luxury apartment project instead.

Groundbreaking is supposed to start in early 2022, and the project is supposed to be a mixed-use development that will bring Cabela’s into the mix on the retail side of things.