Wednesday, February 24, 2016 / by Jennifer Wilson
Have you noticed the change in our Emerald Coast footprint over the last decade? We are growing in leaps and bounds, keeping the real estate market hot for 2016. Some may be concerned over the increased development forever changing the area; however, this change comes as a great boost to property values as well as providing much needed jobs to boost our local economy.
From East to West we’re seeing many changes. Panama City Beach is thrilled to be partnering with St. Joe Company in bringing not only a new K-8 school to the area, but also a world-class sports village. The outcome is to attract more sports visitors to Panama City Beach to enjoy tournaments for soccer, lacrosse, rugby and football. New schools and the economic impact of the sports complex will surely increase property values and raise home sale prices and rental income for investment properties with the added guests visiting the area, especially in the off-season.
Nathan Abbott, with the Nathan Abbott Team, recently sold a parcel of land for a new resort condominium project in Panama City Beach, Tradewinds for $6,450,000. This prime beachfront property covers ~3.65 acres and ~450 feet of Gulf front footage. Nathan Abbott is your sales specialist for Gulf front development parcels in Panama City Beach with a proven track record. This is the 5th development parcel that he sold, in addition to being the listing agent for all the developer sales at the Palazzo condominium located on the Gulf along Front Beach Road.
Going into Walton County, on the East end of Scenic Highway 30A, Rosemary Beach is excited about a new condominium, The Georgetown, set to begin construction this spring. This classic-contemporary structure will offer luxury living at a desirable location with deeded covered parking. Seagrove welcomes a new 31-unit condominium called Thirty-One on 30A. This exceptional and desirable destination offers the pinnacle in architecture, design, comfort and foremost beachfront living. Moving to the West, ResortQuest Real Estate is proud to be the exclusive listing office offering RidgeWalk in Santa Rosa Beach. RidgeWalk is a French-inspired coastal gated community situated on the Eastern boundary of County Highway 393. This Randy Wise development is a nature-rich planned community of 74 homes sites nestled throughout ~19.5 acres.
Okaloosa County is full of upcoming residential and resort developments this year as well. Destin is proud to announce a new condominium project, 1900-98, underway along the coast. This ultra-luxury condo will be built on ~150 feet of beachfront. As well as The Henderson, a Salamander Beach & Spa Resort in Crystal Beach that is scheduled to open this spring. This 170-room resort will provide a plethora of services and activities.
In addition, commercial opportunities are also growing in Destin with the Destin Commons expanding with the soon grand opening of Whole Foods next to the Bass Pro Shop. Locals and visitors can enjoy natural and organic foods, fresh veggies and fruits, and other goodies for healthier lifestyle options. Also neighboring Destin Commons, Turnberry Associates has plans in motion to build a 150-room hotel beginning this spring.
Fort Walton Beach boasts their new development now approved for construction and in planning, The Landmark Center. This center consists of two main buildings that will feature a mix of residential, retail and dining including a 112-room Hilton hotel, pool, executive offices, 24-loft condo apartments and a rooftop bar and restaurant.
Please let us know if you are interested in any of these and other developments along the Panhandle! We are actively involved in Emerald Coast construction projects and opportunities, please contact us for a market review of your property or click here to search available listings along the panhandle!