Construction at the $900 million Langtree at the Lake development is set to begin in coming months, about a year behind schedule. Developer Rick Howard blames the economy for stalling the mixed-use project but says momentum is shifting in his favor.
An international hotel developer gave Langtree a shot in the arm when he announced in March his intention to start building an Embassy Suites and convention center at Langtree. John Q. Hammons Hotels Inc. also plans to buy an additional 3 acres for future expansion.
The first building set for construction is a 24-unit condo building called The Residence at Langtree. Howard says a few $1 million-plus condos sold early on. Most of the units also will be 15% to 20% smaller than initially planned. “We’re going back and listening to the market,” he says. “For the consumer, it will be easier to get financing.”
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See Also: Langtree At the Lake, This Place Will be Awesome!
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