High rise condos coming to SoWal

Discussion in 'Real Estate' started by FoX, Mar 23, 2005.

  1. Smiling JOe

    Smiling JOe SoWal Expert

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    You are right in that most people around here would raise stink. However, regarding the "devaluing" of smaller pieces of property, I think the opposite would happen. I think people would eventually sell out in "group" packages to the developers for outrageous amounts of money. More units can be sold by going up.

    (If I hear any truth of the rumor of lifting the height restrictions, you will see a photo of me, in the newspapers, raising H_LL on the Court House steps.)
     
  2. lenzoe

    lenzoe Beach Fanatic

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    Really? That seems counter-intuitive to me. Do you think, comparing apples-to-apples properties, that Destin has higher values than SoWal? I figured they'd be lower largely due to the density issue. Last time I tried to compare, that's they way it seemed to me. But it's hard to get a real feel for it just comparing MLS listings.
     
  3. Smiling JOe

    Smiling JOe SoWal Expert

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    You certainly make a valid point, which is difficult to argue, but I think the surrounding smaller parcels would also be bought and combined into larger projects. Developers will have to pay top dollar to buy these smaller pieces, but I think you will find them willing and able. South Walton would look like Manhattan from a distant view -- Tall buildings surrounding the State Forest (Central Park). If this ever happend, maybe we could have all tourists park in Freeport and create a bus system, or scooter and bicycle exchange to help keep the traffic down.
     
  4. Rita

    Rita margarita brocolia

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    :clap_1: :clap_1:
     
  5. Smiling JOe

    Smiling JOe SoWal Expert

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    Early this morning, I received late notice, that at today's 8:00am Board of County Commissioners' meeting they would have discussion of restricting the height limit on buildings north of the Bay. I had to leave the meeting early, and did not get to hear the discussion or discission of one was made. Anyone happen to know?

    It was news for me to learn that Walton County's height restriction on buildings applied only to property in Walton County south of Hwy 98. I know Eglin AFB has problems with high rises, especially north of the Bay. Some time ago, I remember a person on the Freeport Planning Board telling me that the City of Freeport also has a problem with high rises due to not having firetrucks that could handle extinguishing fires from buildings with heights greater than 50ft. I am sure we will read about the meeting in Carol's article in the Walton Sun on Saturday, but if you know, I would like to hear. I will get a copy of the minutes, but it generally takes a week or so for the County to record them.
     
  6. Kurt Lischka

    Kurt Lischka Admin Staff Member

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    I believe the height limit was extended from 98 to the South shore of the bay a couple of years ago.
     
  7. Smiling JOe

    Smiling JOe SoWal Expert

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    That would make sense because the area that was up for discussion was north of the Bay.
     
  8. seagrovechick

    seagrovechick Beach Comber

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    The 30A corridor has experienced an amazing rise in value due to the lack of high rises, in my opinion. While it is getting more crowded each year, it is still calm in comparison to other beach resort areas. Allowing high rises is definitely a bad idea as it will serve to dillute the unique beach village feel that has been created in the area and thus slow the value growth in real estate.
     
  9. lenzoe

    lenzoe Beach Fanatic

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    That's what I'm saying! Increased density is comparable to dilution in stock ownership. The fact that it isn't wall-to-wall people on the beaches (yet) is a feature and a quality that needs to be preserved or everyone looses.
     
  10. RiverOtter

    RiverOtter got any pics?

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    Agreed, Looks like the PCB pre-construct's are coming down in price. There looks to be hundreds for resale right now.
     
  11. bsmart

    bsmart brain

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    I saw some renderings of a Flatiron building on the DPZ webpage, that will be built at Alys Beach for office and retail units. As it looks, it may be pushing the limits of the height restriction.

    ~Brian.
     
  12. Smiling JOe

    Smiling JOe SoWal Expert

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    I think it is Alys Beach who has already received permission from the County to exceed the 50ft height limit for the Clock Tower, which the County says is a public benefit. The Clock Tower will be connected to a building, perhaps the one to which you refer.
     
  13. Moondance

    Moondance Beach Fanatic

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    Is the "public benefit" being able to more conveniently keep track of time (which, obviously, I can't do), or a cell tower site, perhaps?? ;-)
     
  14. phdphay

    phdphay Beach Fanatic

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    NO WAY! How do we fight *that*?
     
  15. Smiling JOe

    Smiling JOe SoWal Expert

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    I don't think you can. It was a done deal sometime around the beginning of the year. I forgot the actual height, which varies depending on the basis used to measure, but I think it will be around 50'+/-. There were only a handful of us opposed to it at the County Meeting in which it was addressed.
     
  16. Camp Creek Kid

    Camp Creek Kid Christini Zambini

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    No, it was the "Inn at Rosemary Beach" that received the variance. Construction for that building is well underway and the tower is in place. It looks to be a very nice building and the height is not intrusive at all.
     
    Last edited: Aug 20, 2005
  17. Smiling JOe

    Smiling JOe SoWal Expert

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    Thank you for the correction, CCK. Keeping up with all of these projects can be confusing sometimes.
     
  18. Santiago

    Santiago Beach Fanatic

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    You are dead on about height limits having a positive effect on property values as well as quality of life. I have lived in SoWal since 96 and in my former profession talked to large numbers of people investing in the area. Almost all were of the opinion that the height limit was critical to them. If we sense that this relaxing of the height limit is something that could actually gain any momentum, we should begin the process of incorporation immediately. That is the only way that we can control our destiny. My .02 worth.

    By the way, I make my living from real estate development.
     
  19. JasonKoertge

    JasonKoertge Beach Comber

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    In the spirit of old post resurrection, I thought this was an interesting conversation.

    Having closely documented the real estate evolution in Panama City Beach, I don't think the large supply of high-rise condominium developments did anything great for Panama City Beach.

    In some cases, it was done tastefully, but I feel, generally, across the board that they were allowed to be developed and not a lot of thought was put into the big picture of how it would look in the end or 20 years from now.

    I have friends on the planning board there and friends that are property owners and were developers, so I say this with risk of offending.

    However, I think that had we had a more stringent height limitations and better rules and regulations as to the types of developments and how they can be executed, we'd have a more tasteful product today.

    With that said, Panama City Beach has come a long way and it's certainly a very popular destination.

    BUT, I firmly believe the lower height limitations were absolutely critical in creating the more tasteful developments along 30A that led to a variety of higher-end product, better thought-out developments and ultimately higher property values and rent rates.
     

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