Avalon condo tower units for sale
By PRISCILLA FRULLA
pfrulla@sunherald.com
COURTESY GCID/
A rendering of Avalon, a 198-unit condotel under construction on U.S. 90 in Biloxi near Interstate 110. The 10-story building was formerly Gulf Towers.
Units at Avalon are for sale. Developers are launching a marketing campaign for the 10-story tower on U.S. 90 near I-110 today.
The building at 940 Beach Blvd. in Biloxi, formerly known as Gulf Towers, has been completely gutted since receiving severe damage from Hurricane Katrina. Strategic Capital Partners of Chicago and Wilton Partners of Los Angeles purchased the property in 2006 and are beginning a complete renovation. The total project cost is estimated at $37 million.
The tower will have 198 condotel units, a rooftop restaurant, an infinity-edge pool and lobby and rooftop lounges. Plasma televisions, granite workstations and mahogany furnishings are among the unit amenities.
Laurie Smith of SCP said Avalon's location, diagonally across from Beau Rivage and Hard Rock casinos, is one of its most important features.
The units will range in square footage from 430 to 800 and sell for $199,000 to $500,000, said Smith. The project is scheduled to be completed by fall 2008.
Crescent Management Co., Washington, D.C., will have an on-site office to rent out units. Construction will be done by Rawlins Co. of Houston.
Biloxi-based GCID helped broker the deal and the company's real estate division is listing the units.
Originally published in Mississippi's the Sun-Herald.
