Cork On the Ocean
directionally challenged
hi n dry said:
I thought the article said there was 3 beachfront residences which surprised me but skimmed through quick. Need to reread the article.
Misc Aquatera
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I thought the article said there was 3 beachfront residences which surprised me but skimmed through quick. Need to reread the article.
Re: Aquatera Beach access
Aquatera's beach access is on Green Street; the developer has or will demolish the existing house there and build a quadraplex; 3 units for sale and the 4th unit as the common-use "beach club" for the Aquatera residents
Aquatera's beach access is on Green Street; the developer has or will demolish the existing house there and build a quadraplex; 3 units for sale and the 4th unit as the common-use "beach club" for the Aquatera residents
they won't be "green units"; this developer will build them and blow them out as fast as possible
Re: Aquatera stopped??
Johnny Earles abruptly pulled out of the project; sems to be stalled out due to lack of development financing
Johnny Earles abruptly pulled out of the project; sems to be stalled out due to lack of development financing
Re: Aquatera stopped??
The operative words here are "due to lack of development financing". Somebody found out there was no profit in it...end of project.
ahhhh..uno momento..the exact comment was they would'nt finish the project unless they could make money..:roll:SHELLY said:This must be a mistake! I'm told developers won't start something unless they're absolutely sure there will be profit in it.
The operative words here are "due to lack of development financing". Somebody found out there was no profit in it...end of project.
Duh!!! Its not a surprise that funding is a problem--they spent 61 million just to buy the property!! The developer is supposed to be a hot shot from Miami, but I don't know what he was thinking. They also paid way too much for the Collaborations property and progress there also looks slow.
Re: Aquatera land for sale?
Brokers are quietly marketing the land as a whole now so the developer can get out...the price paid for the land was about $26 mil to the seller..the $61 mil is with all the partner fees and profit takeouts up front pre-development added in
Camp Creek Kid said:
Brokers are quietly marketing the land as a whole now so the developer can get out...the price paid for the land was about $26 mil to the seller..the $61 mil is with all the partner fees and profit takeouts up front pre-development added in
Re: Aquatera land for sale?
The Property Assessors office says $61 mil for the sale. It doesn't matter how much the seller got (tho they got the best of the deal because this was a flip). What matters is how much the buyer paid and they paid it when nobody else would touch the property. The numbers just didn't work with the low density.
halawallah said:
The Property Assessors office says $61 mil for the sale. It doesn't matter how much the seller got (tho they got the best of the deal because this was a flip). What matters is how much the buyer paid and they paid it when nobody else would touch the property. The numbers just didn't work with the low density.
Wait...so are you saying that Aquatera is no more?
IF so, not terribly surprising..with so many other things for sale, seems crazy to compete with the glut right now. I can't say I'm broken up about it, if this is the case. We have a fairly chill stretch of beach there, and that sure would have changed that in a heartbeat. Not that it won't come eventually, but I may be able to squeeze in a few more solitary sunrise walks this way...
IF so, not terribly surprising..with so many other things for sale, seems crazy to compete with the glut right now. I can't say I'm broken up about it, if this is the case. We have a fairly chill stretch of beach there, and that sure would have changed that in a heartbeat. Not that it won't come eventually, but I may be able to squeeze in a few more solitary sunrise walks this way...