Coffeeville Lake Topics: Eagle's Point is now Water's Edge
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Name:
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John C
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Subject:
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Eagle's Point is now Water's Edge
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Date:
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5/10/2010 2:33:11 PM
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Please forgive me for mentioning a listing here, but several of you in the past have asked (me or in general) the question, "What's the deal with Eagle Point?" Up to now, I wasn't able to answer fully. Since this affects so many people on the western side of the lake, I thought I would post a quick reply here:
I am pleased to finally be able to respond. The official answer now is - it is "Water's Edge" - a new waterfront development.
For those of you unfamiliar with the former Eagle's Point - it was a development started circa 2006 at the end of Coosa County Road 20. It is approximately across the water from Veazey's Marina and most of it looks southeast for a couple of miles to Sand Island.
The developers on the original Eagle Point scraped off the hill, put in a street and utilities, etc., and built 1 spec house. The other homes were originally slated to sell at about $900,000. They also started a couple foundations by pouring 2 slabs. The market then went sour, and, as the sum of many other circumstances, the bank took the entire project back.
The bank then went back to the drawing board, so to speak, to analyze what they have and what to do next. The essential questions to answer were:
1. how to turn what has been an eyesore (undeveloped red dirt) into a beautiful development
2. how to take something that (some neighbors argued) didn't fit into the "natural lake" feel of that area - and change it from a spec home feel to a neighborly feel
3. how to get away from the McMansion attitude back to the cabin attitude
4. how to build and sell a community, not in the $900ks, but closer to the entry point or meat of the waterfront home market in the $500ks.
Naturally these challenges were framed to a great degree by playing the cards you've been dealt. But it's my sincere hope to be part of an effort to present a waterfront community that the entire Coosa County / Parker Creek / Oakachoy / Big Kowaliga area can be proud to call a neighbor.
URL: Announcing Water's Edge At Lake Martin
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