"The Brokers Summit is the prelude to what we believe will be the largest one-day waterfront resort residential real estate launch in history," Gary Waxman, president, WWW Group Holdings, tells GlobeSt.com. "This launch will include up to 1,000 condominiums with the potential for over $750 million in sales and over $70 million in broker commissions."
Besides Liberty Harbor, WWW Group Holdings plans to release an additional $5 billion of waterfront property in the next 24 months, Waxman says.
The condo homes are priced from $450,000 to more than $1.2 million. Waxman says qualified brokers will be treated to a cocktail reception and dinner on Sept. 22, followed by a tour of the site the next day. Brokers "will be selected based on their responses to a proprietary web-based broker-profiling program the company has created," Waxman says. He adds that brokers who have not yet been contacted by Liberty Harbor LLC may apply by calling WW Group Holdings at 216 454 1100.
"Liberty Harbor is one of the last major tracts of waterfront property on the East Coast available for large-scale development between Jacksonville, FL and Charleston, SC," Waxman says. The site is adjacent to the new Sidney Lanier Bridge over the Brunswick River on US 17, eight miles from Interstate 95, with direct deepwater access to the Atlantic. The site was once home to the Jones Shipyards where the Liberty Ships that helped win World War II were built and launched, Waxman says. The tract is 250 miles southeast of Downtown Atlanta.
Besides the condominium community, Liberty Harbor will house a hotel and club complex, a public access marina, a town center with undetermined retail, restaurant and entertainment space, a boardwalk and riverfront park. The estimated construction period is two to three years.
Ben Slade, chairman, Blueprint Brunswick Inc., a private nonprofit development group spearheading the city's redevelopment, says Liberty Harbor is "the first step in the rebirth of the Brunswick waterfront."
In July, WWW Group Holdings contracted to buy the 110-acre site for an estimated $11 million or about $100,000 an acre ($2.30 per sf), as GlobeSt.com previously reported. The land deal is expected to close in mid-October.
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