New marina planned for Tiki IslandPosted on
A partnership between marina developer Yacht Clubs of the Americas and a subsidiary of IBC Bank is behind a new Tiki Island, Texas marina, expected to yield 400 boat slips, with some accommodating megayachts.
Initially, Tiki Ventures Ltd. had planned to develop condominiums and 150 boat slips on the site, and IBC-Houston loaned money for the project, which never got off the ground, according to an article in the Galveston County Daily News.
IBC saw potential in a marina on Tiki Island, the closest point of entry to Galveston Bay for Houston-area boat owners, Jay Rogers, chairman and CEO of IBC-Houston, told the newspaper.
“Our intention is to create value and get this off the launch pad,” Rogers said.