Condominium owners who watched their property values plummet during the housing bust are enjoying home appreciation rates that exceed their single-family home owning neighbors.
A proposed 21-story, 114-unit Phoenix Orange Beach condominium project on Perdido Beach Boulevard in Orange Beach was denied preliminary planning approval by the Orange Beach Planning Commission, city officials said. The request will now be presented at a public hearing on Nov. 17 at the Orange Beach City Council meeting. The condo tower would be built on vacant property west of the Hampton Inn & Suites.
ORANGE BEACH, AL — The higher you go, condo-wise, the narrower you must be.
But if you have a narrow lot, by the time you reach the 23rd floor the allowable width becomes a design obstacle. The “incremental setback” is part of the building ordinance in Orange Beach.
Wouldn’t it be nice to shop, have dinner, go out for cocktails, listen to live music and just spend a day in an entertainment district with a view of the water and never leave sight of your front door? Maybe even a slip to pull your yacht up to?
Ten years after Katrina, Alabama homeowners are still feeling the impact of the storm when they pay their monthly homeowners insurance premiums. No the state is taking another shot at finding a solution.
State Senator Trip Pittman read a letter from the governor Monday tasking the Coastal Insurance Work Group to solve the coastal insurance crisis. The group met for the first time at the Chamber of Commerce Building in Mobile, a decade after Katrina and 11 years after Ivan devastated the coast.
GULF SHORES, AL — It’s like deja vu all over again.
Back in the post-Ivan years when building and rebuilding was big business in Gulf Shores and Orange Beach, several new subdivisions were staked, planned and approved.
In the post-boom bust, however, many of those subdivision plans were put aside as interest and the economy waned.
Now they are making a comeback, City Planner Andy Bauer says.
While Gulf Shores isn’t seeing the same level of interest and activity in the hotel or condo markets as neighbor Orange Beach, the single-family housing market is very active.
What do you get for a condo unit north of a million bucks in Orange Beach? Well, you get walking distance of the Flora-Bama Lounge and Package in Perdido Key, Fla. You also get one of the best vistas on the island. The Penthouse at Bella Luna in Orange Beach, Ala. just yards from the Alabama-Florida state line is currently up for sale for $1, 250,000. Bella Luna’s Penthouse 12 state of the art environment is one that is contemporary, elegant, warm and relaxed.
The steady roar of heavy equipment can be heard just about anywhere you go in Orange Beach.
In the first six months of this year the city had issued more than 700 building permits for everything from single home dwellings, to apartments, to restaurants and condos.
Eleven years after Hurricane Ivan rendered the original Vista del Mar condominiums at Perdido Key uninhabitable, a new $60 million project under the same name has broken ground.
With condominium development pressing on the beach and new residential projects dotting its back-bay areas, Orange Beach has reached a tipping point, according to Mayor Tony Kennon.
Unless the city gets traffic relief, he said, “We’re really going to have to start considering a building moratorium of some kind.
“He said that the summer gridlock is putting the city’s quality of life under siege.
Perdido Key is getting a new high-rise condo.
Developers broke ground on the 60-million dollar project Thursday morning near Johnson Beach State Park.
This could herald new growth spurt for the Perdido Key area.
Construction is beginning on the first condo to go up in more than 10 years.
The condo that used to be here was destroyed by hurricane Ivan in 2004. After that people were afraid to build for awhile.
ORANGE BEACH, AL – The Orange Beach Planning Commission will have a full slate on Monday, July 13 with discussion planned for a 114-unit condo project on the beach, a 26-unit condo project on Terry Cove and a 77-cottage residential development behind the Village of Tannin on the beach highway in west Orange Beach.
ORANGE BEACH, AL — As talk about traffic swirls and snags develop daily on Orange Beach roads, growth is continuing at a fast pace in the city. Since Jan. 1 the city has issued 48 building permits.
“We’re as busy as we’ve been since the boom right after Ivan in ’06 and ’07,” Lannie Smith, Orange Beach’s Building Official, said.
Riding the wave of renewed investment on the Alabama Gulf Coast, Brett/Robinson Real Estate and Development Co. is planning its 21st condo project.The Orange Beach-based company already has work underway on the 22-floor Phoenix Gulf Shores on West Beach Boulevard and now has plans to build a 21-floor Phoenix Orange Beach on a roughly 2.75-acre lot it purchased for $5.5 million.
ORANGE BEACH, AL – Developers of a new 12-story tower, well within the zoning height allowances, are facing a new problem with the width of the project at ground level.
Three owners trying to rebuild on a spot where an eight-condo complex destroyed by Hurricane Ivan in 2004 once sat, had hoped site work would be under way by now. But after a recheck of surveys the city believed the 20-foot setbacks from the east and west sides of the property were out of whack.
The city then notified Perdido Dunes Tower it intended to revoke the permit, but the owners filed a lawsuit before the revocation to stop the city from stopping their project.
ORANGE BEACH, AL — As talk in town swirls around massive towers planned at the only north-south intersection on beach road, just to the east a groundbreaking for a more modest tower, one years in the making, is planned.
Flying along the beach front it’s easy to see what brings thousands to this part of the gulf coast. It’s also easy to see where most of them stay. A wall of condo’s line the landscape.
There are a few breaks in the wall. One of those breaks could be home to an ambitious project, the Ascension and Grace condo towers.
“Property’s like this, you don’t get a chance very often to have this in your community.” Robert Stuart chairs the planning commission that approved the project. “They by right could build two 26 story towers. They would have been much wider and would have taken a bigger footprint of the property instead of spreading out and going wide they are going up.”
The state highway department’s review of traffic plans for the proposed 37-story Ascension and 36-story Grace condominium towers in Orange Beach has delayed the City Council’s vetting of the project.
In January, the Orange Beach Planning Commission voted unanimously to recommend council approval of the master plan and the preliminary planned unit development zoning for what could become the second- and fourth-tallest buildings in Alabama.
ORANGE BEACH, Ala. — The stories keep piling up in the bid for a planned unit development that would be the tallest beachfront resort in Alabama. Initial reports were the towers planned near the only north-south beach intersection in OrangeBeach would be 35 and 36 stories. By the time it was presented to city’s Planning Commission that was bumped up one each to 36 and 37.
ORANGE BEACH, Alabama — What a difference a year makes in condominium sales.
A three-bedroom, gulf-front condo unit in Orange Beach's Phoenix 10 sold for $384,000, a jump from $330,000, according to Tina Maynard of REMAX of Orange Beach.
“That's really good news for the sellers,” she added. “I keep telling my buyers that the bottom has gone.”
ORANGE BEACH, Alabama — Developer Larry Wireman says BP gave a $37.2 million steroid shot to competitor Phoenix West II, and now he’s wondering why the oil company hasn’t done the same for his $375 million Turquoise Place condominium project.
MOBILE, Alabama — Lance A. Collins moved from Georgia to Baldwin County in 2002 with dreams of going into real estate or restaurants, according to his testimony today at his sister’s mortgage fraud trial.
“And I really didn’t want to cook fish,” said Collins, who has pleaded guilty to federal criminal charges and awaits sentencing.
MOBILE, Alabama — A former Gulf Shores condominium owner testified today about his experience selling his vacation home to a woman standing trial on federal mortgage fraud charges.Fred Lackey, who is the special assistant to the president of the University of Mobile, told jurors that Melissa Gulledge made an offer to buy the condo at 400 W. Plantation Drive in late 2006 for $330,000. Lackey testified that the deal included a seller-financed second mortgage.
PERDIDO KEY, Florida =- Eleven condominium units in the upscale Florencia on Old River in Perdido Key sold at absolute auction for a total of $3.35 million this past weekend, according to the National Auction Group based in Gadsden.
The event drew 81 registered bidders from 10 states including New York, Michigan and Texas. Each bidder was required to submit $35,000 via check or certified funds.
GULF SHORES, Ala. – Pete Vakakes just sold 2 condominium units in Crystal Tower for $219,000 and $229,000, where 2-bedroom units in the Gulf Shores complex originally sold for $450,000 each.
“All the people that got shut out when prices were crazy, are coming back in the market,” said the agent at REMAX of Gulf Shores. “We’re seeing a lot of cash buyers. People are cashing in their CDs or stocks.”
Condominium bookings are on par with this time last year, and sales activity appears to be on the rebound as the anniversary of the Gulf oil spill approaches.
ORANGE BEACH - The Phoenix West II condo project is back on track in Orange Beach.
BP has paid developer Brett-Robinson the $37.2 million settlement both sides agreed on back in November.
ORANGE BEACH, Ala. — BP PLC has paid Brett/Robinson $37.2 million to finish the 31-story Phoenix West II condominium tower in Orange Beach, and the developers plan a Wednesday topping out celebration at the project.
They’re different kinds of beaches, but these days they have one thing in common — there’s a virtual two-for-one sale on high-dollar condominium units along the Alabama and Mississippi coasts.
Fifty bank-owned condominium units at Holiday Isle on Dauphin Island will be listed for sale at prices from $210,000 to $269,000, according to Marion Laney of ACP Real Estate, which is marketing the units.