Doubling Down on Beach Towns in an Age of Monster Storms

In spite of climate change, developers continue to invest in beach town communities, protecting themselves with new building methods.

Section:
Property
Region:

(Bloomberg)—Developer Jeff Lamkin knew the risks when he paid $250 million for 63 acres of an island off the Texas coast. But he saw only upside in the quaint little beach town of Port Aransas.

Over the next 10 years he built Cinnamon Shore, a village of luxury vacation homes fortified by the latest hurricane-proof construction methods. Then Hurricane Harvey blasted ashore, leaving behind $125 billion of devastation along the Texas coast. It was the test every coastal investor dreads. But Cinnamon Shore passed with flying colors. Then Hurricane Harvey blasted ashore, leaving behind $125 billion of devastation along the Texas coast. It was the test every coastal investor dreads. But Cinnamon Shore passed with flying colors.Then Hurricane Harvey blasted ashore, leaving behind $125 billion of devastation along the Texas coast. It was the test every coastal investor dreads. But Cinnamon Shore passed with flying colors.

Read full article . . .