New developments in PCB?

Discussion in 'Real Estate' started by Matt J, Nov 5, 2007.

  1. Matt J

    Matt J SWGB

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    Supposedly there are new major developments going into PCB. The green square area is supposed to be another large retail commercial area like Pier Park or Destin Commons. The pink square is supposed to be the largest St. Joe residential in Bay County to date called Breakfast point. Anybody heard anything about these?
     
  2. SHELLY

    SHELLY SoWal Insider

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    I know JOE tapped Beazer as the homebuilder of choice for that area. Unfortunately Beazer is pretty much a trainwreck at this stage: http://www.usatoday.com/money/economy/housing/2007-11-05-beazer_N.htm

    You may want to tune in to JOE's 3rd Qtr Conference call TUESDAY (NOV 6) to see what Pete and the Gang (or what's left of the gang after all the rightsizing) have to report. Be prepared to listen to Pete gush about the groundbreaking of Doodle Int'l.:

    The St. Joe Company (NYSE:JOE) announced today that it will host an interactive conference call to review the company's results for the third quarter ended September 30, 2007.

    The conference call will be held on Tuesday, November 6, 2007, at 9:30 am (CDT) to discuss the company's performance and take questions.

    --------------------------

    Should be interesting--they'll release their "earnings :roll:" before the bell on Tuesday.

    Got Red Ink?





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    Last edited: Nov 6, 2007
  3. Kurt Lischka

    Kurt Lischka Admin Staff Member

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    Thanks for posting! There has been some discussion here about Breakfast Point - here is one thread: St. Joe's Breakfast Point community - SoWal Beaches Forum

    I was driving Back Beach Road yesterday and noticed some very large parcels for sale, including a couple of +- 50 acre parcels across from Pier Park for sale by Joe. No doubt some of them will become massive retail/entertainment/funparks. Joe has a lot of land on the north side of Back Beach Road. There is enough for a theme park, aquarium, science museum, etc. (casinos?).
     
  4. grace

    grace Beach Fanatic

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    The latest rumor is that Harrah's has purchased the Signal Hill Golf Club in Panama City Beach, word is that they are also looking at purchasing Laketown Wharf, a very large new condominium adjacent to the golf course. This is interesting and if true would be bigger news than the new International Airport.

    Here is a story that I found while investigating....

    http://www.casinogamblingweb.com/gambling-news/casino-gambling/gambling_operators_in_florida_betting_on_republicans_with_donations_47627.html


    Golf, gambling, sun & sand..... what more could a girl ask for?
     
  5. TooFarTampa

    TooFarTampa SoWal Insider

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    Native of Tampa now in Boston 'burbs. Left my hear
    I have heard these rumors about non-Indian reservation gambling possibly coming to Panama City Beach, with Harrah's possibly involved. Isn't this the kind of thing that would have to go to voters on a statewide basis? Jeb Bush was vehemently opposed to the expansion of gambling, and would have vetoed anything presented to him. I kind of thought the rumors were just an evil way to keep in interest in PCB afloat among potential buyers, but now that Jeb is out of office, I wonder. :dunno:
     
  6. Matt J

    Matt J SWGB

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    I do remember that last year the Seminole Tribe of Florida had there annual meeting at Calypso Towers by Pier Park. It was definitely interesting considering they are primarily based in South Florida. I would think the current liquor laws would prevent major casinos from coming in though.
     
  7. Matt J

    Matt J SWGB

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    Bay County was offered a Theme Park back in the early nineties. I believe it was Six Flags. It was originally proposed on Star Avenue over on the East end of Panama City near Callaway. The only request from the developers at the time was for the county to bury the utilities along the road. The county commissioners at the time nixed it. We still have Miracle Strip Amusement Park, oh wait....
     
  8. Kurt Lischka

    Kurt Lischka Admin Staff Member

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    The rumors and discussion are not limited to PCB. Every county in Florida is interested on some level. My gut says it's only a matter of time. The real estate downturn will hasten the process.
     
  9. scooterbug44

    scooterbug44 SoWal Expert

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    If they can change the gambling laws, I bet they can change the liquor laws or create a loophole when they write the gambling laws.

    Interesting to consider pros & cons of large scale gambling coming to the area.
     
  10. full time

    full time Beach Fanatic

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    This article may be of some interest. It seems a virtual certainty that the State is going to execute a compact with the Seminoles allowing a substantial expansion of Class III gaming - meaning Las Vegas style slots and table games like blackjack and craps. The article contains the first mention I have heard of an anti-competition clause protecting the Seminole casinos in Tampa and Miami. That clause is something to keep an eye on - it might be a glimpse into the future.

    http://www.forbes.com/feeds/ap/2007/11/06/ap4307112.html
     
  11. scooterbug44

    scooterbug44 SoWal Expert

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    So if Christ et al don't reach an accord by Nov 15, the tribe will still get the gaming they want.................and there will be no anti-competition clause to prevent Pan-vegas? :dunno:
     
  12. full time

    full time Beach Fanatic

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    You might have missed the point. The State is going to execute the compact - the feds letter ordering it by November 15th is likely just political cover for Crist so that he can tell voters opposed to gambling that his hands were tied. I would be surprised if an anti-competition clause encompassed the entire State. My uneducated guess is that it would make parts of central and south Florida off-limits making the panhandle a possible alternative for the private gambling interests. We'll see.
     
  13. scooterbug44

    scooterbug44 SoWal Expert

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    So he's the good guy because w/ his proposal, the state gets money and limits the gambling...................that the fed is going to allow anyway.
     
  14. full time

    full time Beach Fanatic

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    Ahso......When the government "limits" gambling, it almost always comes in the form of an expansion (i.e. we'll allow it, but........). I think more expansion of the gambling interest in Florida is inevitable given the downturn in the real estate market and the property tax debate. Florida led all states in the Union last year in percentage of growth in gambling revenues. The gambling folks are master promoters - you'll probably hear them soon (if not already) talking about their ability to fill the void in the state and local coffers if some restrictions are lifted. How do you think the locals in Bay County will vote when the debate is framed as raising property taxes or allowing "limited" gambling? I would not be surprised if the Panama City area is considered a prime location for expansion because of the airport and because of its proximity as a driving destination for the southeast. A casino in Panama City Beach doesn't have to grind it out of the locals - it's a lot more palatable for the politicians.
     
  15. Bob

    Bob SoWal Insider

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    Are there any gambling cities out there that anyone would consider livable? Is this the right path for PC?
     
  16. SHELLY

    SHELLY SoWal Insider

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    There's gamblin'aplenty and an airport in Vegas and their RE market is in the crapper too :dunno:

    Seems the overwhelming majority of homes for sale are unaffordable to folks on casino salaries....although the hookers, pimps and drug dealers are making more than enough to get by.



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  17. 00seer00

    00seer00 Beach Lover

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  18. SHELLY

    SHELLY SoWal Insider

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    Last edited: Nov 6, 2007
  19. full time

    full time Beach Fanatic

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    Bob - don't know if you would consider any of the places "livable", but many cities in the US besides Vegas and Atlantic City have some gambling related interests. I think one of those cities is about 45 minuntes down I-4 from you. That city's landbased casino is going thru some pretty significant expansion as we speak. As to Shelly's comments about Vegas and real estate, I'm indifferent to gambling but without it, Vegas would be inhabited by little more than sand. Might not be for everyone, but hard not to be impressed with places like the Wynn and Bellagio.
     
  20. Bob

    Bob SoWal Insider

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    You answered the question. Gambling is the quick buck for government, but a blight on the community. It turns communities into CarnyWorld. Why do you think the state will shield Central Fl from gambling? They don't want it anywhere near Disney. The entire gaming industry is seedy in the extreme.
     

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