Walmart is as Walmart does. I have my own beliefs about Walmart which is irrelevant, they are here and they are here to stay (look for one in Freeport sooner rather than later).
They are surely being subsidized by St. Joe in one way or another. St. Joe (and gov't. partners) causes infrastructure to happen - roads, schools, hospitals, airports, and commercial - including Walmart. St. Joe brought Publix to SoWal - hello! Ring a bell anyone?
The issue is what their entry into our market means. It means continued development. It means critical mass. It means the type of commercial development residents and visitors don't want here but they are going to get whether they like it or not. And in a few years they will mostly all be shopping and eating at chains whether they like it or not. When it all comes down to it we are the cattle and St. Joe and other corporations are holding the prod.
When the new airport expressway is complete, along with a new 331 bridge and 4-lane all the way to I-10 and points north ( and many other roads planned in the area), you won't even recognize this place. It will be one city from the gulf to I-10, from Pensacola to Panama City. The idea of a quaint SoWal will be just that - quaint.
Except for Scenic 30A. It will be built out and crowded sure, but it will still be beautiful and even more coveted, and even more exclusive - a playground for the rich. Lots, homes and condos will be worth 10 times what they are now. If you pull your head out of the national news for a second and look what's happening here you will see that. SoWal is still in a bubble, not a real estate bubble like we just had, but a bubble for the rich, a bubble for tourists, a bubble apart from the real world - just like Truman's. Some unique and popular places are not really hurt in the long run - Malibu, Martha's Vineyard, Sea Island, SoWal - get used to it.
I am not a realtor, developer, builder, lender, etc., just an observer of growth all over Florida and other hot spots around the world. The "bubble" affected this area but in the long view, it is all really all just starting here. We are on the map now, the world is coming.
Yes - now is a great time to buy.