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| Name: |
skiantique
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| Subject: |
Yacht Club?
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Date:
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4/28/2008 8:53:45 AM
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Anyone driven over and checked it out?
http://www.dailyhome.com/news/2008/dh-pellcity-0413-ehodnett-8d13q5240.htm
By road this is just a few miles from me. I'm not a commercial or large development real estate guy so I'm having a hard time seeing all of this property filling up. Especially with the debacle of Lincoln Harbor to this point.
There is a ton of this development not even close to the water so I'm guessing the draw will be the access to the amenities.
chris
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| Name: |
Cricket
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| Subject: |
Yacht Club?
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Date:
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4/28/2008 9:23:55 AM
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Chris,
My husband and I drove over there a few weeks ago to check it out. Not much to see at this point. We did not go to the sales office as it was vacant. I am surprised somebody is trying another development so soon after the Lincoln Harbor fiasco. We went to one of the open houses there about a year ago and were not impressed.
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| Name: |
twc
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| Subject: |
Yacht Club?
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Date:
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4/28/2008 11:16:27 AM
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I drove out there too right after that article came out. Impressive looking piece of property. But I'm also wondering if it will work. You can see Lincoln Harbor across the water.
Things to make us go hhhhhhhhmmmmmmm
<><
TC
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| Name: |
InjunJohn
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| Subject: |
Yacht Club?
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Date:
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4/28/2008 2:04:35 PM
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It will work if it's done right - Lincoln Harbor wasn't (housing supply is what I do for a living). Many people have or had property on the coast. The cost of insurance there is prohibiting them from building or rebuilding. The insurance costs can actually run higher than the mortgage. People still want their fun in the sun, and water enjoyment, so the logical thing to do is lake resorts. These people are wealthy for the most part, and $500,000.00 will buy much more on a lake than it will on a beach. Georgia lakes are already over populated, so Logan Martin, as well as Martin are the new playgrounds. Look for another one to be announced soon called Horizon, and it is projected to cost over 50 million to build. Be safe out there.
John
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| Name: |
skiantique
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| Subject: |
Yacht Club?
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Date:
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4/28/2008 3:06:41 PM
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So what will make this one work that hasn't for Lincoln Harbor? They can't hardly give those away right now.
chris
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| Name: |
twc
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| Subject: |
Yacht Club?
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Date:
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4/28/2008 3:13:52 PM
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Thats what I was thinking too. Tell us John?
And while you're at it. Do you think this will help or hurt individual property values that are within site of places like this? I can see it helping mostly. But the question was raised about increased population around Lincoln Harbor. Thoughts?
<><
TC
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| Name: |
Lakeshacklivin
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| Subject: |
Yacht Club?
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Date:
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4/28/2008 6:37:43 PM
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My husband and I drove past there about 2 weeks ago. It looked like a lot of Alabama red dirt with some curbs poured. They clear cut the land, which is very sad. We worry about the lake traffic as well with all the development. I am from Biloxi, so understand the concept of coasties moving to the lakes, but can we really sustain this type of development?... Gail and Kevin
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| Name: |
InjunJohn
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| Subject: |
Yacht Club?
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Date:
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4/28/2008 8:47:46 PM
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I don't pretend to have all of the answers, but Lincoln Harbor investors didn't have the money, or the blessing of the state of Alabama, St. Clair County, Talladega County, the city of Talladega, or Pell City. The new guys do. Because of the housing slump, the state and the respective cities & counties are offering tax incentives that weren't there for Lincoln Harbor. For the record, I don't have anything to do with any of them... I supply building materials to residential & light commercial contractors... that's how I know what little I do know. As for your property values, you can expect them to rise pretty good initially. Whether this is a good thing, or a bad thing is up to each person to decide, but you can expect much more traffic on the lake in a few years.
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| Name: |
twc
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| Subject: |
Yacht Club?
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Date:
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4/28/2008 8:54:03 PM
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You got more answers than I do.
Your answers do make a lot of sense to me. I can't even stand the thought of selling tho. I think I have the best sunset view north of Key West but I expect we all feel that way about our lake places. My place is not perfect, but I like it and thats really all that matters.
I didn't know about the tax issues that were offered but I'm not surprised at all. I expect Lincoln Harbor will be a player once again but it will likely be a year or two before anybody jumps back in.
Thanks for the .02. Like I said, you know more than I do.
Peace,
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TC
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| Name: |
skiantique
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| Subject: |
Yacht Club?
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Date:
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4/28/2008 9:48:09 PM
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The problem for the rest of us is going to a potential bottle neck on that part of the lake with both of those places facing each other on opposite sides. I can just see trying to go down river or up on a saturday with both of those places full, no fun, not safe.
Logan is narrow for the most part already, and high density will not be good. Our best bet is a bunch of Atlanta and coastal folks snatching those places up and only coming there a few times a year.
John is correct in Lincoln Harbor having the blessings of absolutely no one before clearing away. Is there even water access there yet? By the end of last summer there still wasn't a pier that had been granted. Haven't been on the water yet this year to check out the progress.
Chris
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