Waterpoint: Developer Going Out In Style- If Waterpoint at Lake Conroe is to be Jim Winkler’s last lakefront development, he’s going out in style.
Winkler has broken ground on the $80 million project that will include 200 luxury condominiums ranging in price from $200,000 to $1 million. Located on a 14-acre site at Texas 105 and Tejas Boulevard, Waterpoint also provides 90,000 square feet of retail, restaurant and office space.
That combination of mixed-use development – plus a 2,000-foot-long lakefront boardwalk – has Winkler convinced Waterpoint will become a “hot spot” for both Lake Conroe residents and visitors.
“We’re getting some incredible feedback,” he said. “We’re getting 15 to 20 calls a day from people who drive by and ask us about the project.
“We also think Waterpoint will become the premier destination for serving the Lake Conroe market,” he said.
About 60 percent of the retail space has been leased to a well-known lineup of national companies, including CVS Pharmacy, Starbucks, Snap Fitness, Marble Slab Creamery and Smoothie Factory.
Winkler, president of Winkler & Associates Inc., said negotiations are underway with a couple of nationally known restaurants that will be located on the waterfront.
“I think having the retail is what’s going to be a big plus. The condominium owners are going to enjoy being able to take a short walk to eat and shop,” he said. “It has turned into a pretty big project. We wanted to bring in the retail and be assured it was coming in before we started on the condominiums.”
Waterpoint is a joint venture between Winkler and Houston-based Gordon Partners LLC. The latter company master planned the entire company and is handling the leasing of the retail center.
“No longer will (Lake Conroe) residents have to travel 20 miles roundtrip for a quality shopping environment,” said Scott Gordon, of Gordon Partners.
Construction on the first phase of Waterpoint – a 63-unit section known as the Beach Club at Waterpoint – is slated to start in October, Winkler said. That section will include three exterior pools, barbecue areas, fire pits, a sand beach and children’s amenities.
Beach Club residents are scheduled for move-in around November 2008, he said.
Winkler’s marketing approach to Waterpoint will be that of a “condotel.” Each unit will be privately owned, but owners have the option to put their condos into a rental pool, managed by Winkler’s firm.
“This isn’t like timeshare, where you buy one week out of a year,” he said. “Nor do the owners have to participate in the program. But if they decide to do so, our onsite management company will help those who want to earn some income on the side as well.”
The condos will range from one to four bedrooms and in size from 1,000 to 2,800 square feet, Winkler said. Boat slips are available with more than one to each condo.
Winkler has developed custom homes and communities on Lake Conroe for the past 15 years. In 2005 he constructed Paradise Point Condominiums, a 48-unit development less a quarter-mile west of Waterpoint.
Winkler admits the amount of Lake Conroe shoreline available for development is dwindling.
“That’s the big question,” he said. “There are lots of developers looking to grab tracks of land, but there’s nothing left, unless you want to dig canals.”
Howard Roden can be reached at firstname.lastname@example.org