NatureWalk Development For Sale

[Camp Creek Kid]

NatureWalk only one part of Olson holdings for sale
February 01, 2008 Joyce Owen

It?s official, NatureWalk at Seagrove is for sale.

Not as in one lot at a time as part of the NatureWalk community, but the entire project has been put on the market.

On Jan. 26, a sign in front of the Seagrove Villas motel, was replaced with a for sale sign.

On Monday, the sign was removed, but the property had not sold. Instead, H2O Properties Realtor Hunter Roquemore, the listing agent, said there was indecision about how the sign at that location looked, but after discussions with the owner, the original sign was going back up.

?We have that property (listed) for $21 million,? Roquemore said.

The NatureWalk at Seagrove developer planned to demolish the motel on County Road 30A and build Russ?s Hammock, a private beach club for NatureWalk homeowners and guests, on the 298-foot gulf-front property.

The demolition was delayed on at least two occasions as Olson waited out the real estate slump. Originally the motel was to close after Labor Day 2007 and later announcements kept the property open until Jan. 31, 2008.

Whether there will be a beach club, what will happen to the million-dollar-welcome and sales center on County Road 395 and the rest of the development depends on the buyer or buyers.

?I have listed the Olson portfolio with $150 million in real estate listings,? Roquemore said.

Phone calls for comment from Olson?s Chief Operating Officer Brad Foster on the future of the company were not returned.

 

[Smiling JOe]

Maybe they made a mistake and mean that the $21 million is the asking price for the entire NatureWalk property, PLUS the Seagrove Villas.

 

[FLSunChaser]

Maybe they made a mistake and mean that the $21 million is the asking price for the entire NatureWalk property, PLUS the Seagrove Villas.

I think you're right JOe. I bet Bill Abbott laughed all the way to the bank when Rick Olson bought that property to do the beach club. Another developer bites the dust!

 

[Yellow Hammer]

There is a 25 million dollar offer on the table for the whole thing....rumor has it. Just 30 or so less than what is in it.

 

[TooFarTampa]

I wonder if the original property is technically undeveloped land? I wonder if it would fall under the new tax proposal that would suspend property tax payments on large parcels until they are developed? Do a welcome center and bridge to nowhere count as development?

It seems it might not be a bad move for someone with extremely deep pockets to purchase the whole shebang at far less than asking, and just sit on it for a couple of years, especially if there are no property taxes.

 

[Camp Creek Kid]

I wonder if the original property is technically undeveloped land? I wonder if it would fall under the new tax proposal that would suspend property tax payments on large parcels until they are developed? Do a welcome center and bridge to nowhere count as development?

It seems it might not be a bad move for someone with extremely deep pockets to purchase the whole shebang at far less than asking, and just sit on it for a couple of years, especially if there are no property taxes.

If there are roads and utilities, it is developed.

 

[Buckhead Rick]

and there are several spec homes being built.

 

[Matt J]

It is paved through out, along with light posts, landscaping, and utilities.

 

[John R]

I took a ride through there the other day. There is infrastructure in a good bit of it, but not all of it. there are also three of four models that need to be finished. further toward the back, the future roads have been graded, but that's about it. the office was locked up, but lights were on. there were a couple of vehicles out fron of the sales office this afternoon.

does anyone know if the bridge at the front of the property was to get a roof?

 

[Smiling JOe]

The bridge is WYSIWYG.