SOUTH PADRE ISLAND (zoldevelopment.com) – Fred Zohouri, an Atlanta-based developer, and Jose Lora, a real estate industry executive, are not too afraid of hurricanes. The two partners of ZOL Development have become large-scale owners and developers of Texas waterfront property with their recent purchase of more than 1,200 undeveloped acres. 

 ZOL purchased 670 contiguous acres on South Padre Island, including miles of beach and bayfront. The rest of the purchased acreage is in Port Aransas and Corpus Christi on Mustang Island. The developers have in mind two master-planned residential communities called Renace and Deseo. Both will be complete with town centers, offering retail shops, services and restaurants.

 Renace on South Padre Island will incorporate high-rise, mid-rise and cabana-type homes. Deseo in Port Aransas and Corpus Christi encompasses a number of separate parcels. It will have a variety of residential designs and community amenities clustered around a mixed-use town center. The two communities will be developed simultaneously, and the developers expect they will exceed $9 billion in total sell-out.

 ZOL is opening a sales center in Houston in June as well as on-site centers at Renace and Deseo this fall.