Hammock Bay

[Gypsea]

I have relatives that are possibly interested in buying property in Hammock Bay. Does anyone have knowledge on whether the developers are financially sound and the other pros & cons?

 

[Smiling JOe]

I cannot speak on the financials for Hammock Bay, but I have not heard of it, or Jay Odum being in trouble financially. Personally, I think Jay is doing a great job with developing Hammock Bay. Just a drive through there says it all. One down side that I see is that there are some national builders in there like D.R. Horton, so you will see some of the generic looking houses repeated. The Lake Club is looking good, and check this out, the Pet Park is almost good to go. They will even have a bathing station for the dogs. Nicely done.

Hammock Bay
The Pet Park


​

 

[beachmouse]

Jay Odom's got a pretty solid reputation down here. (Well save for the Bridge Authority mess, but that's politics, not business) It seems like he genuinely wants people to have pleasant places to live and shop, and he tends to be very big picture/long time frame. I haven't heard anything negative about Hammock Bay's financials, and see it and Owl's Head as the big Freeport projects most likely to succeed.

Unfortunately, Mr. Odom, how do I say this?, doesn't have much taste. (Okay, I dug the Uptown Station Aniamatronic Dinosaur Christmas because of sheer bizarreness, but on a purely aesthetic scale...) And there's just something about Hammock Bay that comes across as a little bit tacky.

 

[Gypsea]

Thanks SJ. I knew I could count on you to give me a fair assessment.

 

[6thGen]

Nice development. Other than what is mentioned, there are a ton of empty lots out there right now. That isn't uncommon in the area, but on a development of that scale it's pretty obvious. It also kind of looks like Windswept Estates, which is good or bad. The "investor" lot purchasers are pissed because the Parade of Homes is there and Odom is releasing "Parade lots" for lower than what he released "investor" lots. That's not a big deal considering the market, but it sucks if you bought several hoping for a quick flip. Long term, the development will be nice and it's good to see the larger developers in Freeport doing it right the first time.

Owl's Head will be nice and they are moving along on vertical construction rather than dumping a ton of lots online. Both places will have a ton of amenities. Freeport infrastructure will be there in a few years, so you have to be patient. I used to have to drive 30 minutes to get to a grocery store and I live in Seagrove.

 

[hi n dry]

What would a lot in there cost now?
Are there any recent sales figures?

How large are the lots?

What is the sea level elevation of the property?

What is the monthly association fee?

Is there a build out?

What would it cost to build there?

Just curious.
Thanks.

 

[beachmouse]

Here's the community web site:

http://www.hammockbayfreeport.com/index.html

They're advertising homes starting in the 230s. I'm sure someone there could answer your questions.