(Read more on the multifamily market.)
PANAMA CITY BEACH, FL-Houston-based Creekstone Cos. has startedconstruction on Island Reserve, a 299-unit townhome and condominiumdevelopment on 20 acres at 8700 Front Beach Rd. The development isscheduled to open in spring 2008.
Units range from a 1,193-sf one-bedroom unit with a study to3,728-sf four-bedroom units with 4.5 baths. Prices for the unitsstart at $317,000. Among amenities are the Panhandle's largestresidential swimming pool; and a community center with an indoorbasketball court and sports court, a fitness center and 100-foottheater screen.
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