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| Name: |
noagenda
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| Subject: |
Just Wondering........
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Date:
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12/2/2005 9:30:48 AM
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With all the development going on at the Lake with the prices of some of the new homes being $1MM+ and condos going for $650+ in some of the new developments, it feels like there should be other infrastructure to support other that what exists. Is there ant rumor about commercial and recreational deevlopments to support this trend? Stillwaters is nice, but not exactly what I would call a recreational anchor. I know that when the Ritz lodge came to Lake Oconee, everything else seemed to flourish afterwards. I know the Ritz is a stretch.....but surely some sort of resort influence would be productive. Just throwing out for dialog.
R
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| Name: |
WSMS
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| Subject: |
Just Wondering........
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Date:
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12/2/2005 11:24:40 AM
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Anyone who doesn't feel that the actual lake itself is the perfect "recreational development" needs to spend their time somewhere else. Everything you could possibly need is right here already; anyone who wants wants more should head to Vegas... and stay there.
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| Name: |
lamont
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| Subject: |
Just Wondering........
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Date:
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12/2/2005 12:31:04 PM
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I'm with you WSMS. Something like the Ritz would ruin the "quaintness" of our lake. Same thing with Reynolds Plantation and all the country clubs on Oconee. I will admit those types of amenities certainly tended to spike real estate values on Oconee but, in my opinion, that lake has no charm. I don't mind the 30 minute ride to Auburn for my golf. Although, I'm afraid it is just a matter of time before those type of developments appear.
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| Name: |
noagenda
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| Subject: |
Just Wondering........
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Date:
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12/2/2005 12:41:43 PM
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The latter comment on future development is my point.....I, too, am fond of the rural nature of the lake. That is precisely why I purchased several years ago versus the Gulf coast. That being said though, when the prices get to a point where they currently are now, the personality and the expectations, and market demand, of what is acceptable amenities will change. I would have never thought a 1500 sq. foot condo would go for $650,000. This Water's Edge development feels like a potential litmus test on the future of the real estate market and the pace of appreciation.
Does anyone have any insight as to how that property is being recieved in the marketplace? I hope they like Karaoke!
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| Name: |
lamont
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| Subject: |
Just Wondering........
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Date:
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12/2/2005 1:49:31 PM
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I think this acceleration in prices has a lot to do with people moving up from the gulf. I know that lake property appreciates well but, we just had our house appraised and it has more than doubled since we bought it 2 years ago. I do dread the extra boat traffic in Chuck's slough but, I'll get over it.
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| Name: |
lamont
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| Subject: |
P.S.
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Date:
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12/2/2005 1:52:32 PM
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I think Greg over at Chuck's is receiving the Water's Edge development fairly well.
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| Name: |
Feb
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| Subject: |
Mixed Emotions
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Date:
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12/2/2005 2:02:16 PM
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Agree with everthing that has been posted. The Western part of the Lake is possibly too isolated. I don't want to see the amusement park atmosphere or rip roaring Juke Joints. It would be nice to have a few little country grocery stores/convenience stores and maybe at least one or two decent restaurants on that side of the Lake. Equality has one little convenience place with limited hours. Alex City is a good 15 or so miles one way. I could see the inconvenience for full-timers. In comparrison, Dadeville has more of the above which is a plus but does it sacrifice with the additonal boat traffic and lack of serenity?
Part of the ideal solution could be growth in the towns like Alex City and Dadeville without overflowing onto the Lake itself. I don't know if the Lake will support other than seasonal growth with the water draw down. The scales might be tipped if there were full pool all year or if a major employer hits the immediate area.
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| Name: |
JustAGuy
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| Subject: |
Just Wondering........
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Date:
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12/5/2005 6:45:07 PM
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I don't think you have to worry about too many "Ritz" type developments on Lake Martin for one simple reason -- there aren't any large tracts of waterfront land available for sale and development.
A resort and/or hotel development requires a big investment up front with the returns coming over tens of years. The quick buck is much more attractive these days -- if you can get someone to sell you a tract of waterfront land, you can either subdivide it into lots or build condos -- and make several million dollars in just a couple of years with almost no up front costs.
That's just my two-cents worth ...
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| Name: |
roswellric
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| Subject: |
Just Wondering........
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Date:
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12/5/2005 8:38:34 PM
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Don't count Russell out. They are very concerned about legacy and they are doing more things that they have in the past with regards to forward thinking. There might just be a "Ritz" sooner than you think. But you can bet they are thinking about the long term impact as well.
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| Name: |
Carnac
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| Subject: |
Just Wondering........
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Date:
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12/7/2005 8:56:57 AM
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You, and roswellric, are both on target. If something important gets developed on Lake Martin it will be done by Russell Lands. They, and Alabama Power Company, own the large tracts of available shoreline. Alabama Power has been discouraged by the courts from being a developer. Neither company will sell to a prospective buyer who might compete with Russell Lands. AP and RL have a long-standing, unofficial, partnership. If AP owns the best site for a project RL will trade acreage for it.
When it happens it will be done by RL. Thankfully, Russell Lands will do it first class. They always do.
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| Name: |
roswellric
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| Subject: |
And
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Date:
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12/7/2005 4:25:50 PM
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That will make everyone's property more valuable, raise more money for local schools and attract more quality infrastructure.
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