Crystal Lagoons Expects Texas To Be Its No. 1 Market10 December, 2018 / News
Crystal Lagoons® opened its first lagoon in Texas near Humble in August and expects the Lone Star State to become its No. 1 market in three years. The company has big long-term plans for the state and North Texas in particular, says Kevin Morgan, executive vice president of Crystal Lagoons U.S. Corp., who is based in Dallas.
Crystal Lagoons U.S. Corp., has more than 20 man-made lagoons underway across the nation, including five in Texas, plus more than 60 that are under negotiation, Morgan said. Worldwide, 600 lagoons have been completed, started or planned by Crystal Lagoons.
The company is seeking new locations to install lagoons, such as golf courses, shopping malls, racetracks and other previously unimaginable sources, Morgan said in an interview with the Dallas Business Journal.
The second lagoon to open in the state will be in Windsong Ranch in Prosper, and a third is scheduled to be in the Bayside project in Rowlett.
In the interview, Morgan refers to what’s spurring demand for crystalline lagoons and Crystal Lagoons strategy to ride the wave of popularity.
Dallas Business Journal: How does North Texas fit into the company’s plans?
Kevin Morgan: Dallas is the new headquarters for the company from a sales perspective due to the fact that it puts us in the center of the country, with our business to the east and west. Texas without a doubt will end up being the largest market in the country for the company, with Florida being second.
DBJ: Why are lagoons popular in Texas?
Morgan: The weather is conducive, but most importantly, given the vast amount of land opportunity here and a very healthy economy, there’s been a tremendous amount of new home starts that are seeking new amenities. You’ve got very progressive developers in this (DFW) market that are looking to do innovative, out-of-the-box thinking. So I think the confluence of all of those things will make Texas the largest market.
DBJ: Where else are you finding deals?
Morgan: We’re doing deals for public parks. We’re doing deals with distressed golf course operators. We’re even doing deals with universities and with racetracks that have been abandoned.
DBJ: How big is the man-made lagoon market?
Morgan: We think the scope of opportunities in the U.S. alone is over 55,000 opportunities.
DBJ: What is the average size of your lagoons?
Morgan: The smallest that we have operational is 1.8 acres and the largest one is 150 acres. So, there is no average. The sweet spot that we’re seeing on the real estate side is in that five to eight-acre range.
DBJ: How deep?
Morgan: Typically between eight and 12 feet in depth.
Crystal Lagoons is an international innovation company, founded by scientist Fernando Fischmann, which has developed a patent-protected technology that allows the construction and maintenance of unlimited-size clear water lagoons at very low costs.