panama city beach boom

[kurt]

For those that haven't heard, the whole beach is undergoing a complete makeover and building boom. Many of the old condos and hotels are being demolished, with massive new high-rises under construction or planned.

Over 2000 existing units have been torn down. 10,000 new units are under construction, and by 2006, 28,000 units will be available, with 60-70 percent being condos.

With the new international airport, hotels, convention and meeting space, resorts, golf courses, businesses, cruis ships, etc. etc., it looks like Panama City is on track top become the largest city and most popular destination between Jacksonville and New Orleans.

Massive expansion is already happening along the North / South corridors between Panama City and I-10. Hwy 231 is 4-lane, Hwy 79 and 77 are currently being 4-laned.

The magnitude is amazing. Panama City Beach will soon surpass Destin in size and number of high rises. All of these new visitors will have a huge impact on SoWal as daytrippers.

[RiverOtter]

The magnitude is amazing. Panama City Beach will soon surpass Destin in size and number of high rises. All of these new visitors will have a huge impact on SoWal as daytrippers.

Let's get the word out that SoWal is no fun and not worth their time to even make a day trip

[Bob]

Riverotter, I had a neighbor stay at Seagrove this past frenzied 30A spring break. She enjoyed the beauty of the area, but made trips to Desti/PC for something "to do". Fortunately for SoWal, this mentality of "something to do" means standing in line somewhere to buy things or go on rides. Orlando has perfected this behavior. The lack of water parks/outlet malls etc. should help Sowal repel those looking for a turnstile to go with their beach.

[RiverOtter]

Riverotter, I had a neighbor stay at Seagrove this past frenzied 30A spring break. She enjoyed the beauty of the area, but made trips to Desti/PC for something "to do". Fortunately for SoWal, this mentality of "something to do" means standing in line somewhere to buy things or go on rides. Orlando has perfected this behavior. The lack of water parks/outlet malls etc. should help Sowal repel those looking for a turnstile to go with their beach.

That's what I'm counting on. I will, however continue to invade PCB and Destin for some things and while I'm there I'll tell them how boring SoWal is

[kathydwells]

Well, as long as the boom stays East or West of SoWal...I am ok with it. I come down for the peace and solitude of what SoWal has to offer. I really hope all of the PCBers stay there while I am enjoying my week of paradise !!!!!!

[GraytonBound]

Fortunately for us, the south is overrun with people like my mom.....who comes to the beach & wants to eat at Red Lobster

[RiverOtter]

Fortunately for us, the south is overrun with people like my mom.....who comes to the beach & wants to eat at Red Lobster

and shop.... at Alvin's Island

[kathydwells]

and shop.... at Alvin's Island

OH God, just the thought of that makes my skin crawl...Oh, and don't forget to the west, their is Destin.....and Big Kahuna's! UGH !!! Isn't the beautiful beach enough? I have to admit, I did have to endure the Kahuna last year with my 11 year old...he even admitted he never wanted to go back !!! Oh, thank God !!!! I can come down this year and not have to do it !!! YEAH !!!!

[Sheila]

OH God, just the thought of that makes my skin crawl...Oh, and don't forget to the west, their is Destin.....and Big Kahuna's! UGH !!! Isn't the beautiful beach enough? I have to admit, I did have to endure the Kahuna last year with my 11 year old...he even admitted he never wanted to go back !!! Oh, thank God !!!! I can come down this year and not have to do it !!! YEAH !!!!

We had my brother and his family down a couple of years ago for Spring Break. The first day they were there my husband and I decided to let Mom and Dad sleep in and take the neicce and nephew for an early stroll on the beach. My nephew insisted on taking money with him to the beach. After we had walked for about 10 min. the nephew asked, "where can I buy a t-shirt or ride a go cart?"

After he found out he wouldn't find any of those things at this beach his reply was, "so this is just like a big ol' lake with sand in front of it."

I guess not everyone can appreciate the beauty of the 30-A beaches.

[RiverOtter]

After he found out he wouldn't find any of those things at this beach his reply was, "so this is just like a big ol' lake with sand in front of it."

A big salty lake :laughing1

[lenzoe]

Over 2000 existing units have been torn down. 10,000 new units are under construction, and by 2006, 28,000 units will be available, with 60-70 percent being condos ... it looks like Panama City is on track top become the largest city and most popular destination between Jacksonville and New Orleans.

So, not that I'd want to occupy a unit there, but what do you think of PCB from an investment perspective? I haven't been there since we made a trip to Circuit City a few years ago and accidentally took Front-Beach road on the way back. We couldn't help but laugh at the bungee-jump place and some pretty seedy looking hotels. But if they're re-developing the area, maybe it's changed enough to be considered for investment.

Any recommendations on good sources for pre-construction info?

[RiverOtter]

So, not that I'd want to occupy a unit there, but what do you think of PCB from an investment perspective? I haven't been there since we made a trip to Circuit City a few years ago and accidentally took Front-Beach road on the way back. We couldn't help but laugh at the bungee-jump place and some pretty seedy looking hotels. But if they're re-developing the area, maybe it's changed enough to be considered for investment.

Any recommendations on good sources for pre-construction info?

I have had the chance to buy several pre-constructs but have chickened out. Now, I am concerned that there is too much supply. I look at the resale pages and there are hundreds listed.

[kurt]

So, not that I'd want to occupy a unit there, but what do you think of PCB from an investment perspective? I haven't been there since we made a trip to Circuit City a few years ago and accidentally took Front-Beach road on the way back. We couldn't help but laugh at the bungee-jump place and some pretty seedy looking hotels. But if they're re-developing the area, maybe it's changed enough to be considered for investment.

Any recommendations on good sources for pre-construction info?

Here's a thread:
http://www.sowal.com/bb/showthread.php?t=280

There are some huge projects going up, high rises with multiple pools, shops, restaurants, activities, etc. that looks like they would be real popular for families wanting an all-in-one experience.

[kurt]

Fortunately for us, the south is overrun with people like my mom.....who comes to the beach & wants to eat at Red Lobster

Or go to Italy and look for big macs.

[kurt]

A big salty lake :laughing1

When SoWal incorporates - - - - > Salt Lake City :idea:

[RiverOtter]

When SoWal incorporates - - - - > Salt Lake City :idea:

Just imagine the baggage claim with all the ski bags and people looking like this

[Smiling JOe]

The lack of water parks... should help Sowal repel those looking for a turnstile to go with their beach.

Obviously you have driven into Cypress Breeze lately. It is not a "water park," however it looks like Big Kahuna's opened a branch in the middle of the neighborhood. When completed, this pool with waterfalls will be larger than the 12,000 sf pool at Seacrest. With all of the fake boulders, it looks like they are building a zoo exhibit.

[RiverOtter]

Obviously you have driven into Cypress Breeze lately. It is not a "water park," however it looks like Big Kahuna's opened a branch in the middle of the neighborhood. When completed, this pool with waterfalls will be larger than the 12,000 sf pool at Seacrest. With all of the fake boulders, it looks like they are building a zoo exhibit.

Does it have a lazy river? How about one of those 100' freefalls ? Man those are fun Gives ya a bad wedgie though

[katie blue]

When SoWal incorporates...

do you think this is an eventuality kurt?

[kurt]

do you think this is an eventuality kurt?

I think it is inevitable on the inexorable path of bureaucracy.

[Bob]

I've seen Cypress Breeze when the first few homes went up.....before the pool. They should have named it Cypress Swamp. Those Cypress trees are there because the land is wet and low. I think several huge envelopes went under the door when that project was approved. I wonder what that area looks like after the last two rains?

[Smiling JOe]

I've seen Cypress Breeze when the first few homes went up.....before the pool. They should have named it Cypress Swamp. Those Cypress trees are there because the land is wet and low. I think several huge envelopes went under the door when that project was approved. I wonder what that area looks like after the last two rains?

What Cypress trees? I don't remember that project having any standing trees.

After last night's 5" of rain, I am sure that Cypress Breeze is wet, like one big pool.

[GraytonBound]

So, you're telling me that vacationers are willing to pay enough to support the payments on a 800K-1.5 mil house, & be so far from the beach they have to drive to it?

[kurt]

So, you're telling me that vacationers are willing to pay enough to support the payments on a 800K-1.5 mil house, & be so far from the beach they have to drive to it?

No - most of the current prices in SoWal will create a negative cash flow rental situation.

[Smiling JOe]

So, you're telling me that vacationers are willing to pay enough to support the payments on a 800K-1.5 mil house, & be so far from the beach they have to drive to it?

Yes, they will. In the near future, you will also see them forking out even more cash for homes in Treetops and WaterSound North, each of which will be no closer to the beach than Cypress Breeze.

[GraytonBound]

Thanks for the mixed reviews...



:wink: :laughing1

[kurt]

Yes, they will. In the near future, you will also see them forking out even more cash for homes in Treetops and WaterSound North, each of which will be no closer to the beach than Cypress Breeze.

Fill me in on Treetops.

[Sheila]

Fill me in on Treetops.

If you drive to the back (East?) corner of Seacrest Beach North, Treetops is going to be located there. I think, and I'm sure S.J. or some of the other locals know a bit more, the entrance will be on 98. It may even connect through to Seacrest.

I'm not trying to spread rumors. Just passing along information we recieved from the developer a while ago. I think the folks in Treetops will have an opportuinity to buy a membership the pool at Seacrest.

If anyone has any recent information that would be great.

[Smiling JOe]

So, you're telling me that vacationers are willing to pay enough to support the payments on a 800K-1.5 mil house, & be so far from the beach they have to drive to it?

Sorry for the confusion. Kurt is correct that the cash flows would be negative. My answer was that yes, vacationers (meaning Buyers) are willing to pay the monthly payments. However, any cash flow will be negative. In the last year of searching, I have found only one property in SoWal that will produce positive cash flow, and my brother bought it last week.

[Smiling JOe]

If you drive to the back (East?) corner of Seacrest Beach North, Treetops is going to be located there. I think, and I'm sure S.J. or some of the other locals know a bit more, the entrance will be on 98. It may even connect through to Seacrest.

I'm not trying to spread rumors. Just passing along information we recieved from the developer a while ago. I think the folks in Treetops will have an opportuinity to buy a membership the pool at Seacrest.

If anyone has any recent information that would be great.

What gotothebeachmom said, plus tree tops will connect thru Seacrest. Lots are selling at $500,000 (assignments) and are due to close in April, of course they have been saying that they would close in two weeks for the past four months.

[Bob]

SmilingJoe, Those "trees" are near the entrance as you drive back into the swamp/neighborhood.

[Smiling JOe]

Oh, I thought you were referring to all of the ones that were growing where "yards" and 3000+sf homes are being built, or the dead ones to the east of the homes.

[Bob]

SmilingJoe, If someone could just "donate" several of those 3000 ft. homes to me, I would'nt care how swampy the neighborhood was. As long as the renters could see most of the road to make it to the house after paying at the rental office. SWEET!

[lenzoe]

All of these new visitors will have a huge impact on SoWal as daytrippers.

Hi Kurt, I've been wondering about this statement. The only people I've met with any connection to Panama City were folks that previously vacationed there and decided they liked 30-A better.

Is daytripping from Panama City currently a source of SoWal traffic? Is daytripping from Destin currently a big source of traffic? I know we occasionally go either direction when we make a Home Depot run or need supplies from other chain stores, but are there a lot of Panama City folk visiting for the day in SoWal now, and if so, what do you suppose are the primary reasons: sightseeing, beach-going, up-scale shopping or dining, or just passing through on the way to the outlet malls?

[kurt]

From general observations:

We get more from Destin than PC. Even those that prefer the busier spots to the East and West like to venture down Scenic 30-A for a day of sightseeing, shopping, dining, and real estate looking. I would bet that it's mostly folks who are on vacation for more than a few days.

I know that the Red Bar brings in people from both Destin and PC, it has become one of those "must go to", or "must go every time we're there" spots.

Rosemary Beach, Seaside, WaterColor, and Grayton, are places that generate a lot of curiosity - add Alys Beach to that list soon. People say the Emerald Coast is the American Riviera. I say SoWal is like the American Cinque Terra (on the Italian Riviera), with scenic villages connected by a trail, ours being a bike trail rather than a hiking trail.

Ultimately, it's the uniqueness and beauty of a condensed area (Scenic 30-A or the Cinque Terra) that is the true attraction.

[RiverOtter]

Hi Kurt, I've been wondering about this statement. The only people I've met with any connection to Panama City were folks that previously vacationed there and decided they liked 30-A better.

I think these people are the exception. I think these people went to PCB for a nice relaxing vacation and found the exact opposite.