12/27/07 11:31am

Lake at Crown Oaks, ConroeThe charms of gated acreage near Lake Conroe: large, wooded lakefront homesites, plus only a 25 minute commute . . . to The Woodlands! Oh, and if we’re talking about 1400-acre Crown Oaks in Montgomery County, lots of lawsuits, too!

Last year, the Crown Oaks Property Owners Association, along with individual homeowners, sued Affiliated Crown Development LTD, citing poor structure of the two manmade lakes in the development, located outside Montgomery.

But so much has happened since then: After new board members decided the developer would finally work with them to solve the lakes’ problems, the property owners association dropped its suit this fall. But now two groups of 10 individual homeowners have hired separate legal teams to continue their lawsuit against the developer. And in turn, the developer is now suing the engineering and construction firms it hired to build the dams on both lakes.

But there’s even more lawsuit fun:

“The POA tried to get out of the suit as a plaintiff, so my group has also sued them,” [homeowner attorney Kevin] Forsberg said. “The individuals were not satisfied. … Even though the POA started working with the developer in the hopes that the lakes would be fixed, nothing has actually been done.”

What’s it like to build your home on a lake that doesn’t bother to show up? Thanks to the amazing power of the internets, you can experience all the highs and lows of manmade-lakefront real-estate investing yourself — from the comfort of your own computer! Watch videos and read details of the whole dam story . . . after the jump!