Snohut Snoballs marks 25 years

Staying frosty: This is cool. Santa Fe-based Snohut Snoballs, 13105 state Highway 6, will mark 25 years of business with a day of festivities Saturday that includes a temporary return to 1985 prices.

(A large snow cone will set you back only a buck). Roy and Christy Johnson (now retired teachers from the Santa Fe school district) launched the business to provide summer jobs for their then-teenage sons. Snohut Snoballs eventually became the first job for about 48 teenagers, some who went on to become doctors and engineers. The Johnsons’ son Brian, 36, became a civil engineer, and son Eric, 32, works in the restaurant industry. Both men live in Austin. They learned a strong work ethic at Snohut, Roy Johnson said.

At 10:30 a.m. Saturday, Santa Fe Chamber of Commerce will kick off festivities with a ribbon-cutting. Look for free hot dogs and soft drinks from 11 a.m. to 12:30 p.m. Also, Snohut will debut its latest flavor — jalapeño. Some of the former employees will gather Saturday for an alumni photograph. Snohut also will donate some proceeds from sales of anniversary T-shirts to various local organizations. Want to talk about your first summer job? Visit Buzz Blog at galvnews.com.

Lordy, Lordy: Look who’s 40. Marking four decades in business is League City-based American Homestar Corp., a purveyor of manufactured homes. American Homestar began as Mobile America in one model home center on Spencer Highway in Pasadena. The company featured singer and pianist Mickey Gilley in TV advertising campaigns. American Homestar grew to become one of the region’s leading manufactured home retailers.

To survive when the oil boom went bust in the 1980s, the company switched strategies. Founder Buck Teeter realized the company could provide services to lenders faced with liquidating manufactured houses whose owners’ had defaulted on loans.

“We refurbished and remarketed thousands of homes during this period helping not only the lenders but many homebuyers who were in the need of affordable housing at time when the job market and the economy was really bad,” Teeter said.

As the market recovered, the company evolved and grew through mergers and acquisitions. In the 1990s, the company became “fully vertically integrated,” through manufacturing, retailing, finance, insurance and transportation. With headquarters at 2450 South Shore Blvd., the company now has 665 employees — 45 in League City — and is one of the largest U.S. manufactured housing companies.

Gavel gossip: Developers of another prominent property on the island are turning to auctions to sell off home and commercial sites. Bruce and Debbie Reinhart have commissioned Chartwell Group/TCN Worldwide Accelerated Marketing Division to auction off remaining single-family home lots and two commercial land tracts at Beachside Village on the island’s West End.

The Reinharts in 2003 began developing Beachside Village, south of FM 3005 between 8 Mile Road and 9 Mile Road. The community is defined by old Galveston architecture and the traditional neighborhood concept that encourages the use of porches and pedestrian walkways.

The development was initially platted with 160 home site lots. About three-quarters of the home sites have been sold and the development boasts 20 finished homes.

The two commercial sites available for auction are a 5.16 acre tract restricted to residential development (up to eight stories) with a suggested opening bid of $1.25 million (previously priced at $4 million) and a .91 acre tract, restricted for commercial/retail development with an opening bid of $150,000 (previously priced at $595,000.)

Reserve prices for the home sites will range from $50,000 to $90,000, a decrease of 65 percent from recent prices. Reserve pricing means the seller has agreed to sell the lots to the auction buyers as long as the final high bid price is equal to the published reserve price.

The auction is scheduled for 7:30 p.m. July 20 at the Marriott West Loop Hotel in Houston. For information about viewing the lots and the auction, call 832-598-8243 or visit www.chart wellgroup.com or www.beachsidevillage.com.

Auctions are hot in these trying times. Last month, more than 600 people attended an auction of 27 units at East Beach condominium high-rise Palisade Palms. Kennedy Wilson Auction Group reported all units were sold.

Emerald foreclosure: A year ago Premier Tierra Holdings, a subsidiary of IBC Bank, stopped foreclosure proceedings against Emerald Tower Ltd., developer of island East End high-rise tower Emerald by the Sea. But difficult times continued and Tuesday, it moved ahead, taking possession of about 50 unsold units at the 113-unit development, 500 Seawall Blvd. The move affects only units or assets on which Premier Tierra Holdings had a deed of trust.

It’s business as usual for condominium owners there. The original loan amount was for about $31 million. Before foreclosing, Premier Tierra Holdings transferred the assets to newly formed Emerald Galveston Holdings LLC.

Emerald Galveston Holdings will work to sell those units, Jay Rogers, chairman and CEO of IBC-Houston, said. As the owner of the largest chunk of units in the development, Emerald Galveston Holdings intends to be good neighbors, Rogers said.

“We will be working with homeowners we already know,” Rogers said. The foreclosure means Namir Faidi, a principal in Emerald Tower Ltd., has no more connections to the development, Rogers said.

Break a leg: New downtown business Island Costumes plans a “grand opening” in time for ArtWalk on Saturday. Island Costumes, 2413 Mechanic St., is a full-service sales and rental supplier of original and custom-made theatrical costumes, masks and wigs. Island Costumes created all the costumes for Island ETC (east-end theatre company) performance of “Gypsy” at Strand Theatre from Friday to Aug. 7. For ticket information, call 409-762-3556.

Biz Buzz appears Tuesdays and Thursdays.