This Week in Houston Real Estate: Houston’s most expensive home listing has French inspiration

by Rincey Abraham

A chateau-style home located in Houston with a living room modeled after the Palace of Versailles is currently on sale for nearly $30 million, making it the most expensive listing in Houston, according to Mansion Global. Originally listed for $43 million, the home is named Chateau Carnarvon and is owned by a trust controlled by Ed Bosarge, an advanced mathematics expert and co-founder of the Houston high-frequency trading firm Quantlab Financial, and his wife, Marie. The couple bought the partially completed property for $1.185 million in 2010. It was first listed in 2014 but then taken off the market in 2016. The two-story mansion is more than 27,000 square feet and is located on 2.5 acres in Memorial and includes a 33-foot, hand-painted domed ceiling in its entryway, a home theater, a music room, a billiards room and a bedroom suite that was transformed into a hair salon. 

In other Texas real estate news:

  • Texas won the 2017 Governor’s Cup from Site Selection magazine for having the most economic development projects. Texas completed 594 projects last year, down from 642 in 2016, but still far ahead of the second-place state, Ohio, which has 467 projects. Nebraska was recognized for completing the most projects per capita, according to Bisnow Houston. One of the economic development programs completed last year was the Texas Enterprise Fund, which is meant to entice businesses to the Lone Star state. 
  • Private equity real estate firm The Resmark Companies is expanding its single-family housing investment platform into the Texas market. Michael Zarola, senior vice president, will be operating the new office that will oversee investments for sale in Houston, as well as the other major Texas cities Austin, Dallas/Fort Worth and San Antonio. The company currently has two single-family housing joint ventures underway in Austin. 
  • Houston Realtor Ellis Young is gaining attention for his fun and creative for-sale signs. Young recently added “Not Haunted” to a listing in Manvel, but has also added signs that say “Gluten-Free House,” “Harvey Tested,” “Free VCR with Purchase,” “Backyard Included” and “Room for Activities” — a reference to the movie “Step Brothers.” 
  • KB Home held the grand opening of The Meadows at Westfield Village in Katy, Texas. The community has eight home designs, and planned community amenities include a playground, covered pavilion and walking trails. Homes begin in the mid-$170,000s. 
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