Reports: Floating Houston condos on the way

Think houseboats on a much, much bigger scale....A unique development that will see condos for sale on a floating island in the country's inland waterways will go north for the summer and south to Houston for the winter, according to a report from the Chronicle.

The 600-foot boat will be called the Marquette, but will be in Texas more often than other states, the project's developers, River City, told the newspaper. The Marquette will range as far north as Minnesota during the summer, and stay on inland waterways on Texas' Gulf Coast in the winter.

The two developers, David Nelson and Bill Tout, told the newspaper the venture was financed out of their own pockets, and that it will cost them a total of $1.9 million to get off the ground.

"Unfortunately bankers only do what has been done before, so we are unable to get banks to participate in financing our vessel," said Nelson.

While there may be a number of attractions to the floating lifestyle, there are also many potential complications, which may hamper widespread adoption of the concept, experts say.

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