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Timeshare possible for historic downtown building - The Galveston County Daily News: Biz Buzz / Buzz Blog

December 3, 2016

Timeshare possible for historic downtown building

Posted: Thursday, April 24, 2014 12:30 am

Progress report: Crews have stripped off the back wall and this week removed the fire escape at the historic Medical Arts Building, 302 21st St. in the island’s downtown. Meanwhile, developer Andy Vickery is considering a slight change of plans for the property he bought in 2012. 

Vickery, a Houston attorney, initially planned to develop 83 luxury apartments at the site, with 6,300 square feet of retail/restaurant space planned for the first floor of the building. But Vickery this week confirmed he’s considering a timeshare development for the property. If he decides to do that, he’ll eliminate plans for retail but go forward with the 83 units, he said. The Medical Arts Building would be the only timeshare development downtown. For the uninitiated, such arrangements give several joint owners the right to use a property as a vacation home under a time-sharing agreement.

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