The project doesn't break ground until summer with completion expected in summer 2006. Condo prices range from $442,700 to $583,300 for 1,165 sf to 1,500 sf of living area. The development site is at the intersection of Front Beach and Middle Beach roads. Sterling Realty LLC, formerly Real Estate International of Destin, is handling sales. The company is one of the Cornerstone Development Group's family of companies.
Tropical Waves is one of several new commercial projects planned in the Panama City area. The St. Petersburg-based US tower division of Taylor Woodrow plc in the United Kingdom plans an estimated $30-million, two-building, 160-unit condominium community and 128 single-family homes at Magnolia Beach and Delwood Beach drives overlooking St. Andrew Bay.
Simon Property Group of Indianapolis bought 93 acres for $26.5 million from Jacksonville-based St. Joe Co. in 2004, as GlobeSt.com previously reported. The shopping center developer hasn't disclosed plans for the site but area retail brokers and consultants tell GlobeSt.com a mega-sized regional mall could be on the developer's horizon.
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