RREAF Holdings Reports Major Progress on Margaritaville Resort and Beach Cottages in Galveston
Ongoing activity and planning efforts show continued momentum and advancement towards future phases
Dallas, TX (April 22, 2026) – RREAF Holdings, a privately held real estate investment and development firm, announced today that it has made significant progress on its Margaritaville Resort and Beach Cottages development in Galveston, TX. The latest activity marks an important step forward as the project continues to move towards its next phase.
Between December 2025 and February 2026, the test pile phase has been successfully completed, as planned, marking a key geotechnical milestone for the site. The results set the foundation for active construction to begin on two model cottage units. In April, a precision-built model cottage is expected to be delivered on the site enabling the sales team to begin welcoming prospective buyers by the summer. The addition of the model unit will provide an early on-site experience as development activity continues to progress.
“This is an important milestone for our project and a clear signal that we’re moving forward,” said Kip Sowden, CEO of RREAF Holdings. “With the test pile program complete, we are now positioned to begin the next phase of construction and bring our vision to life, beginning with the introduction of our model cottage. We remain deeply grateful to the City of Galveston for their partnership and support throughout this process and are dedicated to providing the city with a destination and source of economic growth for years to come.”
RREAF has engaged in ongoing dialogue with the City of Galveston, secured federal approvals, and has invested extensively in environmental engineering and review. Geotechnical reports have been completed, city planning and building permit reviews are active across multiple municipal departments, including mechanical, fire, engineering, plumbing, and building inspection, and the project continues to move forward in full coordination with local and regulatory partners. In conjunction, the cottages have been constructed off-site by the Houston-based organization, Aura, for quality and consistency and partnerships with Galveston and Houston based contractors and landscapers have been finalized and are on standby for when the next phase begins.
“Our partnership with RREAF to bring Margaritaville Galveston to life has provided a unique opportunity and represents exactly the kind of collaboration Aura was built for: marrying thoughtful design with precision construction to deliver high-quality cottages faster and more consistently than traditional methods allow,” shared Rame Hruska, CEO of Houston-based Aura Dwellings & Hospitality. “Through working together, this is more than a development project. It’s a chance to shape a destination that celebrates both the Margaritaville brand and the soul of the Texas coast.”
The progress underway today is the result of foundational work, including land acquisition, avian protection permitting, and major agreements with both Tellepsen Builders and Gensler and Associates dating back to 2021. Federal milestones followed, with a U.S. Army Corps of Engineers Individual Permit and a Beachfront Construction Certificate and Dune Protection Permit both secured in 2024, alongside a Trademark Sublicense Agreement with Margaritaville this year.
To learn more please visit https://ownmargaritavillecottageresortgalveston.com/ .
About RREAF Holdings
Founded in 2010 and based in Dallas, RREAF Holdings LLC (“RREAF”) is a privately held, vertically integrated real estate investment and development firm focused on value creation across high-growth U.S. markets, primarily throughout the Sun Belt. The firm specializes in the acquisition, development, and repositioning of complex real estate assets, with a core emphasis on programmatic value-add multifamily investments.
Since inception, RREAF has completed more than 130 transactions and acquired and developed over 23,000 units and keys. The Beachfront Hospitality & Resorts portfolio, RREAF’s oldest and second-largest operating platform, includes 12 hotels with over 1,500 keys across four states. In aggregate, RREAF oversees more than 90 assets representing approximately $4.7 billion in assets under management.
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