Nature Walk

[Smiling JOe]

One idea for the Seagrove Villas, which is thrown around, has been condos. With the existing motel building of the Villas, the idea could be feasible, and in keeping within the zoning regulations. However, for the buyers, there could be a huge potential problem. Lets say that the studio Gulf Front condos were sold, then some unfortunate event came along and destroyed the value of the building by 50% or more. By current law, the zoning would then revert back to single family detached residential, causing the condo owners a potential problem, and a potential lawsuit against the seller for any damages incurred. This could be a HUGE problem.

From strictly a financial and risk assessment, I think the owners of the property would be better off by selling off the property as four individual Gulf Front lots, if given the choice of building condos or single family lots. For right now, the Seagrove Villas may not be generating much money, but it sure is the only source of cash coming into the NatureWalk property.

 

[Snapper Grabber]

The Villas have sent notices to renters that they will be operating as they are presently until august, 2008.

 

[Matt J]

Maybe this was mentioned before, but have the villas actually sold to Olsen outright or is there simply a contract in the works? I would think without the actual land the villas sits on the parcel up the road is just dropping in value due to the lack of dedicated beach access.

 

[hnooe]

An all time favorite perhaps? Chateau de Paris?

Ah, Mon Ami....zee Rue de Paris...Yes, that is when I knew 30A "themed" developements had reached their heights.....heights of tackiness. I walk my dogs thru there, it even comes with it's own French cement basketball court in the back!

 

[Smiling JOe]

The Villas were actually sold to Olsen.

 

[Matt J]

Ah, Mon Ami....zee Rue de Paris...Yes, that is when I knew 30A "themed" developements had reached their heights.....heights of tackiness. I walk my dogs thru there, it even comes with it's own French cement basketball court in the back!

I never saw a sign for it, but I was afraid it was actually themed in some god awful way.

How about a Venice themed development that floats around the bay? It would be hurricane proof since you could just tow it out of harms way.

 

[Matt J]

The Villas were actually sold to Olsen.

Then I will go with the speculation that the lenders and Olsen will probably ride out the slow times until they can actually sell again, and just hit Olsen with either penalties or some sort of partnership to get there money back.

 

[Smiling JOe]

I never saw a sign for it, but I was afraid it was actually themed in some god awful way.

How about a Venice themed development that floats around the bay? It would be hurricane proof since you could just tow it out of harms way.

The Gondola Boat guy moved away last year and left Baytowne Wharf with one less Venetian looking guy.

 

[Matt J]

The Gondola Boat guy moved away last year and left Baytowne Wharf with one less Venetian looking guy.

I remember that, now if the floating Venice has a flag on it of another country can't you also avoid property taxes?

 

[BeachSiO2]

An update that should make many people happy, especially KDW.

http://story.waltonsun.com/article.display.db.php?a=2407