Riverwalk, Freeport

**GreatSouthern** · 06-16-2008, 03:22 PM

About the hotel. When I say I cant speak about it, its because I don't actually know. Im not trying to hide anything. If you all really want to know I can find out but it may take a week or so.

**GreatSouthern** · 06-16-2008, 03:23 PM

As far as responses go, I will be checking this site M-F 9-5.....So weekend posts will have to wait till Mon for response.

**Smiling JOe** · 06-16-2008, 03:36 PM

Do you represent Great Southern or just their RiverWalk project?

**SHELLY** · 06-16-2008, 04:07 PM

Originally Posted by GreatSouthern

About the hotel. When I say I cant speak about it, its because I don't actually know. Im not trying to hide anything. If you all really want to know I can find out but it may take a week or so.

Please do.

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**GreatSouthern** · 06-16-2008, 05:01 PM

Originally Posted by Smiling JOe

Do you represent Great Southern or just their RiverWalk project?

If you mean am I a real estate person working for Great Southern or Riverwalk then the answer is no to both. I am the web admin for Great Southern.

**Smiling JOe** · 06-16-2008, 05:07 PM

So is there a salesperson for RiverWalk?

**Bobby J** · 06-16-2008, 09:00 PM

How much are the lots?

**SWGB** · 06-17-2008, 01:39 AM

Originally Posted by jdarg

This is a joke, right? I associate Ritz Carltons with big, cosmopolitan cities or luxury resort areas. I love the Emerald Coast (I refuse to call it THE Beach), but I don't think we are RC material.

Not a joke, I should have said rumors. All except Henderson Park Inn, I'll have to get some of those brochures I saw and scan them.

**beachmouse** · 06-17-2008, 10:04 AM

Speaking of the Henderson Park Inn, the meltdown in the real estate market had a happy side effect of sparing the Inn and it is now open for business again after sitting empty for a couple years while someone tried to put together a condo presale for the property.

http://www.hendersonparkinn.com/

**SWGB** · 06-18-2008, 01:03 AM

Originally Posted by beachmouse

Speaking of the Henderson Park Inn, the meltdown in the real estate market had a happy side effect of sparing the Inn and it is now open for business again after sitting empty for a couple years while someone tried to put together a condo presale for the property.

http://www.hendersonparkinn.com/

Who said it wasn't still in the works?

**beachmouse** · 06-18-2008, 09:46 AM

It could very well still be in the works, but I suspect that it'll be at least five years before it makes sense to pull the dusty blueprints for the old project out of the drawer and even think of trying to get it going again.

Scenic 98/Miramar Beach doesn't have the same insane glut in properties on the market that PCB does, but I think it's going to be a fairly long time before we see new projects in the area, even on as prime of land as the Inn is on. (adjacent to a huge state park parcel)

**scooterbug44** · 06-18-2008, 10:34 AM

Ritz-Carlton Freeport!

Thanks, I needed a good laugh!

**SHELLY** · 06-21-2008, 01:05 AM

What are the chances that the Freeport Ritz-Carlton will be more successful than Ritz-Carlton Lake Las Vegas?

---------------------------------------------
When it opened five years ago, The Ritz-Carlton gave Lake Las Vegas a flagship property that drew attention far out of proportion to its 349 rooms and a location a good half-hour from the Strip.

"Las Vegas prides itself, these days, on offering all sorts of luxury resorts," Frommer's wrote in reviewing the property. "Truth be told, this is the only luxury resort . . . and it's not even in Las Vegas."

However, as was true with the rest of Lake Las Vegas' developments as the real estate market cratered, remoteness turned out to be a weak selling point. The Ritz-Carlton's owner, Village Hotel Investors LLC, racked up $35.7 million in losses in 2006 and 2007, according to court documents, and quit making payments on the $98 million mortgage last October to an affiliate of Deutsche Bank.

Several months of fevered efforts to somehow sell or refinance the hotel went nowhere, forcing the hotel into a Chapter 11 filing as a foreclosure loomed imminent.

The shareholders of Village Hotel, indirectly including an entity controlled by Atalon Group, which took control of the 3,592-acre Lake Las Vegas in January, and the Ritz-Carlton subsidiary of Marriott International, quickly decided not to hang on to the ownership. As a result, the bankruptcy court has approved a plan to file bids by July 30, then have the potential buyers come to the downtown courtroom itself for an auction on August 22.

http://www.lvbusinesspress.com/artic...q_21752711.txt

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**avalon** · 07-10-2008, 10:06 AM

Originally Posted by Smiling JOe

I would love for a five star hotel to be successful in Freeport in the next ten years, because that will mean many things have changed, including having staff in Freeport, who can sell wine in a fine dining restaurant, rather than order takers. It will also mean that the real estate market and vacation market will have shifted. I'm 100% for a successful five star hotel in Freeport, I just don't see it happening in the next ten years. I think Freeport will be a very different place in twenty years, so it has to have stepping stones to get there -- maybe this is it.

You might be surprised to know how many "waiters who can sell fine wine" commute from DFS and Freeport to the beach. I am sure that a job that did not require 5.00 to 10.00 a day in gas would be welcome. Freeport has its shortcomings for sure, but availability of staff is not the problem. Freeport is not the beach. Alabama and Geogia have plenty of nice freshwater for boating and fishing. I see Freeport as becoming a real town and not a tourist destination. That is not a bad thing. I love living here- moved up four years ago and never looked back. Tourism is fine and the beach is the reason for it. Those who see the whole area as "future resort" are mistaken in my opinion.

**Smiling JOe** · 07-10-2008, 02:51 PM

I agree with you, Amy, in that I also think Freeport will be more of a town than all of the disconnected beach communities of South Walton. Been to the new City Park yet? Tennis Courts, basketball courts, soccer fields, baseball fields, concession stands, etc. It is pretty amazing for a start. I just don't see a hi-end resort with formal service appealing to anyone wanting to visit Freeport, in the near future.

**Bobby J** · 07-10-2008, 11:14 PM

Originally Posted by Amy@Avalon

You might be surprised to know how many "waiters who can sell fine wine" commute from DFS and Freeport to the beach. I am sure that a job that did not require 5.00 to 10.00 a day in gas would be welcome. Freeport has its shortcomings for sure, but availability of staff is not the problem. Freeport is not the beach. Alabama and Geogia have plenty of nice freshwater for boating and fishing. I see Freeport as becoming a real town and not a tourist destination. That is not a bad thing. I love living here- moved up four years ago and never looked back. Tourism is fine and the beach is the reason for it. Those who see the whole area as "future resort" are mistaken in my opinion.

I actually think Freeport will end up being where we all end up. Once the infrastructure is in place the folks will come. The prices still need to adjust but I think with time it will. There are still many homes and lots up there that are priced higher then some beach properties.

**Busta Hustle** · 07-17-2008, 03:39 PM

a couple of items about freeport and yachting...you have Destin Pass with Legendary Marinas (P. Bos) trying to corner the market there and you have St. Joe buying into Bay Point Marina near St. Andrews Pass with the potential for the Port of Panama City switching from industial to recreational...anything along Freeports shores means a long cruise to get to either pass...on the plus side you do have the commissioner whose family business is at the inland end of 4 mile on Lagrange and he often volunteers tax money to keep the entrance to Lagrange deep water...so at least you'll have bay acess to a couple of those wanna be boating neighborhoods...other wise you'll need a flat bottom skiff to make it to shore...

**SWGB** · 07-17-2008, 07:55 PM

Originally Posted by Busta Hustle

a couple of items about freeport and yachting...you have Destin Pass with Legendary Marinas (P. Bos) trying to corner the market there and you have St. Joe buying into Bay Point Marina near St. Andrews Pass with the potential for the Port of Panama City switching from industial to recreational...anything along Freeports shores means a long cruise to get to either pass...on the plus side you do have the commissioner whose family business is at the inland end of 4 mile on Lagrange and he often volunteers tax money to keep the entrance to Lagrange deep water...so at least you'll have bay acess to a couple of those wanna be boating neighborhoods...other wise you'll need a flat bottom skiff to make it to shore...

Where on earth on you getting this fact? I only ask because they just started construction on a much larger warehouse and signed a 10+/- year contract with the wood pellet plant up near 231/I-10.

**Busta Hustle** · 07-18-2008, 08:10 AM

"potential" means it's not fact at this juncture...it is fact that Joe is into Bay Point Marina as you know...also the "Port St. Joe" (old mill site) is geared up with development of industrial commerce centers with the existing port and rail service and being pushed on their web site...
forgive me for not having the articles to post here hopefully i'll find them...what was discussed is that Joe's plan to develop the emerald coast into the premier destination vacation place included the long range plan to build and acquire world class golf and marinas/ports capable of handling cruise lines...the idea was kicked around that portions of the Port of Panama City or businesses from there could move to Port St. Joe...

**Abby Prentiss** · 02-08-2012, 06:08 AM

Nine indicted in alleged land schemes

TOM McLAUGHLIN / Daily News

A Freeport subdivision development called Riverwalk never got off the ground, but two Colorado men apparently made a lot of money selling lots there as investment opportunities.

Now, Steven F. Reagan of Arvada and Jay S. Fulton of Aurora are looking at hefty federal prison sentences.

They were among nine people indicted Monday for “mortgage fraud schemes” involving several properties in Northwest Florida.

A news release issued Tuesday by the U.S. Attorney’s Office in Pensacola said Reagan and Fulton are accused of illegally securing loans for more than $3 million to buy homes in Santa Rosa Beach.

The men transferred about $450,000 of the money into bank accounts “held by entities associated with the Riverwalk development in Freeport,” the news release said.

Reagan and Fulton solicited borrowers to purchase lots located in Riverwalk “as an investment opportunity,” the release said.

The release said “through false statements,” borrowers obtained $2 million in loans to purchase the Riverwalk lots.

“Reagan and Fulton received kickbacks from an entity associated with the Riverwalk development,” the release said.

Riverwalk originally was envisioned as a subdivision of 500 homes featuring a 1,000-foot boardwalk leading to Four Mile Creek.

Walton County Property Appraiser Patrick Pilcher said that these days “putting that word development behind Riverwalk is putting it very loosely.”

“I drive by the entrance there every day. It’s a subdivision that’s platted and went through all the land use requests and given all the permits necessary,” he said. “But it’s really in a bad state right now. The roads are mostly unpaved and the storm water drains are eroded and filled up with sand.”

The property originally was owned by a developer named Jerry Miller, records show. It passed eventually to another man, Terry Habshey, who records indicate sold it for $21 million in 2005 to a group known as Riverwalk Freeport LLC.

Pilcher said at one time he “noticed a lot of money” moving through the property.

“There was a time, really after the price spike in the housing industry, there were lots that continued to sell in that subdivision. And the prices showing on the deed seemed to be way off base with the market,” Pilcher said.

The people involved in the off-kilter dealing had addresses in New Mexico, Arizona and Colorado, Pilcher said.

Reagan, 51, and Fulton, 47, face a maximum of 70 years in prison on charges of conspiracy to commit bank and mail fraud, mail fraud and conspiracy to commit money laundering.

Both men have pleaded not guilty and are scheduled to be tried March 5 before U.S. District Judge Lacey Collier.

The U.S. Attorney’s Office also has announced that Raysean K. Richardson, 27, of New York, has been charged with conspiracy to commit mail fraud, mail fraud and conspiracy to commit money laundering.

Richardson was arrested Feb. 1 in New York and is scheduled to be arraigned in Pensacola on March 8.

Charging documents state he obtained fraudulent mortgage loans for $617,500 to purchase a home in Navarre, according to the release.

It states “after closing on the loans, and following a series of financial transactions,” Richardson received about $135,961 in kickbacks.

He faces up to 20 years on each count of the three-count indictment, the release said.

Also, Steven Imes III, 48, of Woodland Hills, Calif., and Keasha Rogers, 36, of Atlanta, have been indicted in a Navarre case, according to the news release.

The indictment states Imes secured a $1.8 million in mortgages to buy three homes in the Navarre area and that Rogers got a mortgage loan for $630,000.

Imes eventually received $136,000 in kickbacks and Rogers got $35,000 in kickbacks, the release said.

They were arrested in January and are charged with mail fraud, conspiracy to commit mail fraud and conspiracy to commit money laundering. They face up to 20 years on each charge.

They are scheduled to be arraigned today in Pensacola.

In another case, Jonathon “David” Sanders, 50, of Santa Rosa Beach is one of four people indicted for conspiracy to commit mail fraud and bank fraud, and conspiracy to commit money laundering.

Louis Mazzella, 41, Scott F. Smith, 48, and Paula N. Smith, 43, all of New York, also are charged.

The indictment states Scott Smith schemed to buy a home in Santa Rosa Beach from Sanders for $1.8 million, with $1.3 million of the loan “fraudulently obtained” from a bank.

“Sanders had a $1.2 million mortgage on the property at the time he sold it … but instead of paying off the loan Sanders caused the money to be diverted elsewhere,” the news release quoted the indictment.

All four received a portion of the $1.3 million loan, the release said.

Sanders appeared in federal court in Pensacola for the first time Tuesday. His trial is scheduled for April 2.

Mazzella and the Smiths were arrested Feb. 3 in New York. They are scheduled to make their first appearance in Pensacola on Feb. 27.

Read more: http://www.nwfdailynews.com/articles...#ixzz1ln817O9N