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Smiling JOe

SoWal Expert
Nov 18, 2004
31,648
1,773
I have not driven down that way in a week or so. I believe Prominence has a sign posted on the property which they clear cut. From the original question, I gathered the piece to which was referred was immediately to the west of (adjacent to) Alys Beach. If so, that is not Prominence. Prominence is located adjacent to WaterSound, which John R pointed out.
 

Camp Creek Kid

Christini Zambini
Feb 20, 2005
1,278
124
52
Seacrest Beach
John R said:
it's called something with a 'P', i think. prestige, paramount, pinnacle???

st. joe of course wanted to buy it so watersound south would be one giant piece w/out a divot in the middle, and offered what the owner thought was a ridiculously low priceand told them to stuff it. the next time they went back, it was too late/too expensive to buy. st joe has some pretty good arial(sp) photos of it(since it's smack dab in the middle of their land) at the watersound sales center.


jr


We're talking about a different piece of land. The land in question in just west of Alys Beach on the north side of 30A. It is between Alys Beach and Watersound Parkway. Prominence is, as you said, in the middle of Watersound on the south side of 30A about 2 miles west of the property we're talking about.
 

Camp Creek Kid

Christini Zambini
Feb 20, 2005
1,278
124
52
Seacrest Beach
Smiling JOe said:
The owner of record is listed as ZOHOURI DEVELOPMENTS SOUTH WALTON LLC, and Fred Zohouri from Atlanta is the Managing Mbr of the LLC. It consist of about 26 acres and sold for $61M in Sept '05, according to property records. From $24.5 M to $61M is a great flip, esp if it was an assignment and the original buyer had only an EMD holding the property. :shock:

Quick math = $2,350,000 per acre. If zoned 8 units per acre (and I have not looked to see), the raw land cost is only $293K per unit. With infrastructure costs, you can look at probably $400k per unit cost to developer. That price is not too bad all considered.


I Googled Zohouri's name and although he has been involved with some big condo developments in Miami/S. Florida.
 

Camp Creek Kid

Christini Zambini
Feb 20, 2005
1,278
124
52
Seacrest Beach
Smiling JOe said:
Quick math = $2,350,000 per acre. If zoned 8 units per acre (and I have not looked to see), the raw land cost is only $293K per unit. With infrastructure costs, you can look at probably $400k per unit cost to developer. That price is not too bad all considered.


You're probably right considering how much Alys Beach is getting for their lots. At one time there was a lot in Alys south of 30A that was listed for 2.5 mil.

This property doesn't have beach access though. I guess they're planning to go through Alys Beach? I know that when it was on the market, the owners were trying to secure an easement through Sand Cliffs subdivision, but it didn't work out.
 

John R

needs to get out more
Dec 31, 2005
6,777
819
Conflictinator
Camp Creek Kid said:
We're talking about a different piece of land. The land in question in just west of Alys Beach on the north side of 30A. It is between Alys Beach and Watersound Parkway. Prominence is, as you said, in the middle of Watersound on the south side of 30A about 2 miles west of the property we're talking about.

got it. next time i'm down that way, i'll look for this piece.


jr
 

Kurt

Admin
Staff member
Oct 15, 2004
2,233
4,925
SoWal
mooncreek.com
This is Prominence. Apparently, in order to be prominent, you have to remain any trace of vegetation. And then you fill in any gentle roll to your property so that it is completely flat. I will keep everyone updated as to what comes next in the pursuit of Prominence.

051117-007.jpg
 

Smiling JOe

SoWal Expert
Nov 18, 2004
31,648
1,773
Camp Creek Kid said:
You're probably right considering how much Alys Beach is getting for their lots. At one time there was a lot in Alys south of 30A that was listed for 2.5 mil.

This property doesn't have beach access though. I guess they're planning to go through Alys Beach? I know that when it was on the market, the owners were trying to secure an easement through Sand Cliffs subdivision, but it didn't work out.
Maybe they will use the same beach access that Prominence owners will be using at Deer Lake State Park. :funn:
 

Camp Creek Kid

Christini Zambini
Feb 20, 2005
1,278
124
52
Seacrest Beach
Smiling JOe said:
Maybe they will use the same beach access that Prominence owners will be using at Deer Lake State Park. :funn:


And they can drive their scooters and golf carts of the bike trail to get there.
 

beachmouse

Beach Fanatic
Dec 5, 2004
3,504
741
Bluewater Bay, FL
Camp Creek Kid said:
And they can drive their scooters and golf carts of the bike trail to get there.

Because that's where they'll take their dogs to do their business because they don't want to have to deal with it back by their cottage. (I've seen that happen multiple times with Destiny owners thinking Crab Trap park is their dog's personal doo space)
 

GreenWaveDave

Beach Lover
Oct 24, 2005
64
0
Smiling JOe said:
Quick math = $2,350,000 per acre. If zoned 8 units per acre (and I have not looked to see), the raw land cost is only $293K per unit. With infrastructure costs, you can look at probably $400k per unit cost to developer. That price is not too bad all considered.


Whe you say infrastructure costs of $400k/unit, are you including the construction cost of the actual home (total development cost=land+building) or just true infrastructure (site development costs= clearing, utilities, paving, etc...)?
 
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