The long-dormant Schlitterbahn site on North Padre Island is getting a saltwater reboot. In its place is Whitecap, a roughly $800 million, 240-acre master-planned seaside community that promises more than 600 waterfront homes, five miles of navigable canals and a 30-acre nature preserve. Developers say early infrastructure and some amenities are already in place, with the first phase of homesite sales rolling out this summer. The goal is to swap a failed waterpark for a walkable, boat-centered neighborhood packed with shops, dining, a marina and resort-style hospitality.
Ashlar Development LLC and partner Diamond Beach Holdings LLC describe Whitecap as a coastal village with more than 600 planned residences, canal lots and a mixed-use town center, according to Whitecap. The project brochure highlights resort pools, trails and a central nature preserve, and places the community roughly 30 minutes from Corpus Christi International Airport.
Sales, amenities and a storm-proof marina
“The owners saw extraordinary potential in this uniquely positioned property,” Terence Johnson of Ashlar Development told CultureMap Houston, which reports that the first phase of homesite sales is now underway. Industry coverage says major infrastructure is already in place, Heron’s Nest Café and Pelican’s Landing pool are finished, and a $50 million dry-stack marina is under construction and being engineered to withstand Category 5 hurricane forces, according to MarinaWorld.
From waterpark flop to master plan
Schlitterbahn’s North Padre Island park opened in 2016 but closed during the COVID-19 pandemic in 2020 and was demolished in 2021 after bankruptcy and foreclosure, as reported by the San Antonio Express-News. Corpus Christi leaders have framed Whitecap as a turnaround moment for the island. Mayor Paulette Guajardo said the development could bring “new and expanded services, improved water quality, and infrastructure and significant revenue to the city,” the newspaper reported.
What it means for housing and local infrastructure
Developers say lots in Phase 1 range from about 2,500 to 7,500 square feet, with prices broadly estimated between roughly $300,000 and the high-$800,000 range, and the project has sold a small number of lots while several homes are already under construction, according to the Houston Chronicle. City capital documents show officials are budgeting and building infrastructure, including a Whitecap wastewater facility and roadway work, to support the development, per the City of Corpus Christi capital plan.
Legal and financial background
The project sits on land that changed hands after a multi-year bankruptcy and foreclosure process, and the transition out of the Schlitterbahn era was slowed by legal disputes tied to the prior development partners, reporting shows. The bank that ultimately controlled the parcel recruited Ashlar to redevelop it and has since pushed forward infrastructure work that leaves the site shovel-ready for vertical construction, according to the San Antonio Express-News.
What to watch next
Avison Young has been retained to market Whitecap to hotel, hospitality and residential partners as brokers pitch parcels or the full 240-acre offering. Developers have offered different timelines in public reporting, and materials and developer statements point toward a multi-year buildout with major phases expected in the near term. The community’s first showcase homes are expected to open later this year, per the Houston Chronicle and marketing materials.
