Nature Walk

[nathanthebanker]

Hence Karma and what is happening to most developers that had shady ethics and what is happening to Olsen & Associates.

Hence the developers boiler plate:

ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING REPRESENTATIONS OF THE DEVELOPER. FOR CORRECT REPRESENTATIONS, MAKE REFERENCE TO THIS BROCHURE AND TO THE DOCUMENTS REQUIRED BY SECTION 718.503, FLORIDA STATUTES, TO BE FURNISHED BY A DEVELOPER TO A BUYER OR LESSEE.

 

[Snapper Grabber]

What do you think will happen to the Nature Walk property now?

 

[Smiling JOe]

I think only the lender and creditor have a decent guess on that.

 

[Matt J]

What do you think will happen to the Nature Walk property now?

I think only the lender and creditor have a decent guess on that.

And this ever stopped us from speculating why?

 

[Smiling JOe]

lol. Never said it stopped us, but I have no clue as to the answer. I think one would need to know much more about the financial status of Olson, and the background of the lender. So, share your guess.

 

[Snapper Grabber]

I just wish that the project would not include the destruction of the Seagrove Villas Motel. It should be a historical landmark. Eventually there will be nothing left of Old Seagrove, thus removing most of its charm.

 

[Smiling JOe]

According to Walton County Code, if the physical building is destroyed, decreasing the value of the building(s) by 50% or more, by any cause, including Ma Nature, fire, or human the zoning would revert back to single family residential, so this whole idea of a beach club was rather ridiculous to begin with.

 

[fisher]

What do you think will happen to the Nature Walk property now?

The lender will sell it to the highest bidder if foreclosure occurs and the new owner will put it to the highest and best use. In other words, whoever ends up owning the property will not keep the old Seagrove Villas to collect $150 bucks per night in rent versus developing the property with SF Homes or condos.

 

[TooFarTampa]

The lender will sell it to the highest bidder if foreclosure occurs and the new owner will put it to the highest and best use. In other words, whoever ends up owning the property will not keep the old Seagrove Villas to collect $150 bucks per night in rent versus developing the property with SF Homes or condos.

Sad but true. The Seagrove Villas property is I believe four lots, so I predict either four giant beach houses at $4-5 million a pop, or the buyer somehow finds a way to create a mini development of 6-8 houses. Actually, I think that's the best we can hope for.

 

[TooFarTampa]

The main portion of Natureswalk was not bought for a portion of what the Villa's was. It was actually purchased for $21,000,000 give or take a few dollars. Add that to the Villas purchase as well as the 2 gulf front homes that were originally bought for anticipated beach access and you have around $40,000,000 just for the dirt.

Sorry about this -- I was waaay off. For some reason I had $2 or $3 million stuck in my head.

I wonder what will happen to the larger parcel. From what I can tell it's a nice piece of property.