Faa Decision To Relocate Airport

[John]

I have been perusing this message board for a few months now and everybody comments that what makes SoWal great is the non commercial, laid back, slow living, down home feel, that the SoWal beaches and commmunity provide...

If this airport comes in and all your grandiose predictions come true you will be just the same as any other over developed, traffic laden, big box store, chain restraunt haven, all the other beach communities in FL have become...

I was under the impression that most of you would despise this news, but in the end I guess the dollar signs in your head trump thoughts of what made SoWal so "special" (in your words) to begin with...

Good point. It's a mixed blessing. Good and bad can come from it. Hopefully mostly good.

 

[Bobby J]

I have been perusing this message board for a few months now and everybody comments that what makes SoWal great is the non commercial, laid back, slow living, down home feel, that the SoWal beaches and commmunity provide...

If this airport comes in and all your grandiose predictions come true you will be just the same as any other over developed, traffic laden, big box store, chain restraunt haven, all the other beach communities in FL have become...

I was under the impression that most of you would despise this news, but in the end I guess the dollar signs in your head trump thoughts of what made SoWal so "special" (in your words) to begin with...

I have lived in South Walton for 25 years. I have sold oranges and Christmas trees on the side of the road to be able to live here. It gets really hard here in the winters. We all have mixed emotions about the growth but we still have to pay bills. Many people that vacation or retire here have the draw bridge theory. "We have we what we want now the rest of you go away". I am glad for positve growth so I do not have to go back to the Christmas trees. South Walton will never be what you describe because of all the State land. I feel our density will always be low here. The Airport will bring more jobs, better jobs, etc. Just more to do here. Everywhere I travel I see growth! Heck, Costa Rico is out of control. Sowal is going to be OK. We just need a little posive push every once in awhile. BTW, SoWAl will always be special. Density, Density, Density!

 

[Bob]

It will take us awhile to grasp the reality of this but when it hits we shall see a market turn back around and fast. I have already had two calls on big development peices in North Walton because of this. Also, look at areas that have an international airport. They tend to boom!!!!

Orlando once had a terminal like PC. In 1981, the new North terminal opened, and the rest is history. O-town had 30,000,000 visitors fly in
for the first time in 2000. I hope growth in the panhandle is a little slower for the local's sake. Unabated growth has a very dark side.

 

[Bs1chiro]

Well stated Bobby J...and besides..the airport will be in Bay county not Walton and is about 20 miles from the beaches of SoWal. So relax, ya'll!!!

 

[Mango]

Well stated Bobby J...and besides..the airport will be in Bay county not Walton and is about 20 miles from the beaches of SoWal. So relax, ya'll!!!

 

[TooFarTampa]

Apparently the FAA issued approval to the airport on Friday. Here is a link to an article in today's St. Pete Times, which led the front page. I'm sorry but the airport looks more and more like a boondoggle, given the current economic climate. Not saying that it won't make sense a few years down the road, but who is going to pay Bay County $50 million for the site of the current airport when there are so many unsold developments? St. Joe? Right now? And how will it get done without that money?

If I were a Bay County taxpayer I would be concerned.

http://www.sptimes.com/2006/09/16/State/Panama_City_airport_o.shtml

 

[TooFarTampa]

From the WSJ on Wednesday:

http://www.post-gazette.com/pg/06256/721469-28.stm

 

[monty]

It will take us awhile to grasp the reality of this but when it hits we shall see a market turn back around and fast. I have already had two calls on big development peices in North Walton because of this. Also, look at areas that have an international airport. They tend to boom!!!!

It will take a lot more than a new airport to turn this or any other resort market around. It will take low, low interest rates again, no hurricanes for years, and much lower prices on the lots and houses in the area. The second home marketplace got way ahead of itself from sea to shining sea. Inventories are sky high, more product is coming to market, prices are free falling and there aren't many buyers out there.

It will be a long, long time before the real estate market comes back, and this is especially true for second homes. The market along 30A is no mure unique than Palm Beach, Naples, Kiawah, Amelia, Hilton Head and other areas are in their own way.

Builders are already beginning to try to dump inventory. Just look at what John Willis is doing with prices of homes in Cypress Dunes, Santa Rosa Beach Villas and Watercolor. St Joe is getting out of the home building market. Prices are falling below 2004 prices and they still have a way to go. Apparently, a house in Phase II in Watercolor just sold for under $700k.

Hang on, the ride down will continue to be bumpy.

 

[Bobby J]

Like I said it will take us awhile for us to grasp the reality of this... When it does it alone "can" turn a market around. Not to mention this market is moving forward. In certain areas it is getting hit but overall we are way ahead of our last slow market which was in 2003. 2006 versus 2003 is alot stronger on my books.

 

[Bob]

Apparently the FAA issued approval to the airport on Friday. Here is a link to an article in today's St. Pete Times, which led the front page. I'm sorry but the airport looks more and more like a boondoggle, given the current economic climate. Not saying that it won't make sense a few years down the road, but who is going to pay Bay County $50 million for the site of the current airport when there are so many unsold developments? St. Joe? Right now? And how will it get done without that money?

If I were a Bay County taxpayer I would be concerned.

http://www.sptimes.com/2006/09/16/State/Panama_City_airport_o.shtml

To put the cost of the airport in perspective, the United States is currently spending 10 billion dollars a month in Iraq, money which is borrowed, and will be paid for by future generations. The benefit of this obscene monthly figure is zilch. The 300 million spent on the airport will spark the economic engine of the entire panhandle. Future generations will benefit economically from easy access to the region. A new NBA arena costs much more than the airport in question.