Grace Pointe Development

Discussion in 'Real Estate' started by jim steckel, Dec 10, 2012.

  1. jim steckel

    jim steckel Beach Comber

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    New sign on old Prominence property, next to Watersound Beach, yesterday, announcing a new development called Grace Pointe. No phone number on the sign. Any information as to developers, timing, site plan etc?
     
  2. tsutcli

    tsutcli Beach Fanatic

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    Don't know why anyone would think that changing the name will cure the fatal flaw of that property. Notably it has no beach access except through Deer Lake Park which is no access IMO. Only St Joe could save that property as an enlargement on Watersound Beach. Could it be destined as a commercial center - 30 acres as I remember on S side? Anyone see any connection between this and the old Aquaterra property recently going under contract?
     
  3. tsutcli

    tsutcli Beach Fanatic

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    Just drove down there and I have to say it looks like the sign is on a piece of property between Prominence and Watersound - didn't know one existed. Advertised as a luxury resort with pool, tennis courts and luxury residences. No mention of beach. Curious that developers are listed as Comer Group ( Alyse Beach Comers? ) and Woodford Capital.
     
  4. Kurt Lischka

    Kurt Lischka Admin Staff Member

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    I heard that DR Horton was buying Prominence.
     
  5. jim steckel

    jim steckel Beach Comber

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    Prominence property


    Actually, Prominence is 40 acres on each side of 30a, for a total of 80 acres. Maybe Joe is selling beach club memberships?
     
  6. tsutcli

    tsutcli Beach Fanatic

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    Riiiiight!!!!! I can really see the Watersound HOA agreeing to that.
     
  7. Camp Creek Kid

    Camp Creek Kid Christini Zambini

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    A search of the Walton County Property Appraiser's website shows a November 08, 2012 sale of the property for $25,750,000 to D.R. Horton. Perhaps they are flipping the property? There is no way D.R. Horton can make that kind of money back by building their lower-end products.
     
  8. JasonKoertge

    JasonKoertge Beach Comber

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    It's fascinating how DR Horton has really moved into this market. Was just discussing how much of a presence they now have in this market.
     
  9. jim steckel

    jim steckel Beach Comber

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    DR Horton purchase price of Prominence property

     
  10. tsutcli

    tsutcli Beach Fanatic

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    And I repeat...who would build a house where there is no convenient beach access in a beach community? Isn't that what sank Aquaterra project when they lost the lawsuit with Sandcliffs over easement rights? Maybe Horton plans low income housing for 30a.
     
  11. passin thru

    passin thru Beach Fanatic

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    The property was entitled for 650 residential units, 120 unit hotel, and 200k ft commercial under the Prominence development order.

    Look at that kind of density, and that of NatureWalk, that the County thought was a good idea to grant not too many years back. Then consider what happens when every one of those eventual homes puts a huge SUV or three onto the SoWal roads, along with another 1000 golf carts, all of them searching for a way to the beach or taking a trip into Seaside.
     
  12. 30A Skunkape

    30A Skunkape Mr. Small Box

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    To each their piece of THE Beach [​IMG]
     
  13. Bobby J

    Bobby J Beach Fanatic

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    They will build it and probably sell it with a shuttle service to public beach access.
     
  14. chanster

    chanster Banned

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    bobby please explain how places like watercolor phase 4 are selling at $250 plus a square foot now and are 1.5 miles to the beach? Even natures walk which was left for dead and is 2 miles to the beach is selling at over $200 a square foot.phase 4 watercolor sold many homes at $425 k 18-24 months ago and now many are 700-800k. i'm stunned with such a far distance to the beach what these are selling for. Even a few homes in seaside and watercolor or within10-20% of getting there money back from buying at bubble highs.
     
  15. tsutcli

    tsutcli Beach Fanatic

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    The public access would be Deer Lake and while a nice walk from the head of the walkover to the beach it is a long one. Not what I would want if I had kids or had guests of advanced age. Also, are there any facilities there?
     
  16. tsutcli

    tsutcli Beach Fanatic

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    Any up-dates on this project?
     
  17. Zac

    Zac Beach Lover

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    DR Horton has enough cash and has done enough business with St Joe there is a chance that they cut a deal with them to have beach access via the Watersound crossover area. Its a nice enough location(surrounded by Watersound) that it will work out. If Not a beach access they can compensate by making real nice amenities, shops, houses, and provide a shuttle service to a near by beach access. DR Horton is NOT about to just throw away 25 million dollars
     
  18. tsutcli

    tsutcli Beach Fanatic

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    The previous owners of Prominence tried to cut such a deal with St. Joe which didn't fly. Could be that DR Horton has the money to get it done but wouldn't the HOA have to approve it? What could be in it for them to allow potentially that many more people into their rather exclusive, gated enclave. Their beach is protected from the masses on the east by Camp Creek Lake and on the west by Deer Lake State Park now. A shuttle service to Deer Lake Park is possible but there are no amenities there and very little parking. Also, the walk to the beach is long, not good if hauling beach goodies for the family and not if there are seniors.
    There are major disincentives to building here unless they can solve the access problem - think fate of the Aquaterra project not far away.
     
    Last edited: Jan 11, 2013
  19. Zac

    Zac Beach Lover

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    Yea That is true. Im sure a lot of the owners at Watersound would have strong objections if that happened but If anybody has the money to make a deal work its DR Horton. I drive by that area at least twice a day and noticed that they have another new sign on it now saying something along the lines "coming soon Prominence" along with the Grace point sign further down. Interesting....
     
  20. Amy 30A

    Amy 30A Beach Comber

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    It's not DR Horton

     

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