Planned 15-story condo a Destin first

The 15-story Harbor Reflections condo tower planned for the Destin Harbor is the first to be approved under a “tiering system” in the city’s land development code. What will be the city's tallest building passed by a narrow margin, with four councilors voting to approve the project, while three voted against it.

According to Destin's Community Development Director, Jerry Mucci, Harbor Reflections will be 159 feet tall, which is one foot shorter than the maximum allowed. That makes it 9 feet taller than the Emerald Grande. The two will probably look the same, Mucci said.

The tiering system allows for development in Tiers One and Two to receive automatic approval as long as it conforms to city rules. Developments where the units per acre and the height exceed Destin standards fall into Tier Three and require council review, including whether the “public benefit” the developer has to provide compensates for the size of the project.

The “public benefits” of Harbor Reflections, which will go up next to Harbor Docks, include $350,000 for workforce housing; burying overhead utilities; providing pedestrian access from Harbor Boulevard to the planned harbor boardwalk; and upgrading the Destin bus stop on Benning Drive.

“The developers met all the criteria they were supposed to,” Councilor Sam Seevers said. “It’s a beautiful building, and we’re going to get ($1.3 million) worth of public benefit.”

That figure is a third of the profit the developer expects to realize by going from Tier Two to Three.

At the hearing, Councilor Kelly Windes said taking that much money verged on “socialism” and set a bad precedent.

“For those old (landowning) families who held out for 50, 60, 70 years, they are not making a good return,” Windes said, adding that the rules were too subjective. “Every project that comes before us, we are going to argue with them about what chunk of the profit the city should get, and it’s too ambiguous. There has to be a standard, and we have to simplify this formula.”

Mayor Craig Barker said the council decided the size of the benefit was appropriate for the impact of Harbor Reflections going up on the site of Gilligan’s Restaurant and Gilligan’s Watersports, and the effect it will have on traffic and city life.

“I think the process went smoother than I’d expected for the very first trial,” Barker added.

Both Windes and Councilor Dewey Destin objected that under the city’s parking code, Harbor Reflections requires 270 parking spaces, but the developers only have to provide 219.

The city’s policy is to minimize harborfront parking lots because wide swathes of asphalt don’t encourage foot traffic, and because parking isn’t the best use of such valuable land. The harbor district is already several hundred spaces short of what consultants say it should have, so the city plans to build parking garages on the north side of Harbor Boulevard, allowing smaller parking lots on the south side.

The city had planned to pay for garages by issuing bonds against future property-tax revenues, but the Florida Supreme Court ruled last year that this requires a public referendum. City officials have said it’s not clear whether that would be a Destin referendum, or would have to include all Okaloosa County.

“We’re dead in the water right now,” Councilor Destin said. “We’re going forward with permitting when we don’t have any realistic understanding of when we’re going to get the public parking ... If we’re at a parking deficit, where are they going to park?”

Councilor Ted Corcoran was the most optimistic of the council members.
“The plan fit all the criteria, and therefore should have been approved ... It will be a great benefit to our city to show that the redevelopment of the harbor has officially begun. It will take several years to start seeing results, yet it is happening."

Source : http://www.nwfdailynews.com/

Destin Florida Condos - Market Update

The new year brings the promise of spring and the traditional upswing in buyers interest. Buyers looking for deals this year have begun sorting through all condos for sale looking for the right property and the right price.

Condo Inventory High but Falling. There are currently 3,313 condos for sale in our local area. Inventory is down 10% from the same time last year. The gradual decline is indicative of a slowly changing market. Our property summary table below shows the distribution of the home inventory across the geographic markets of our area.

Strong Buyer Market Will Persist. Although the high inventory and rate of condo sales spells more bad news for sellers, it is good news for buyers. Condo buyers looking for a bargain can expect to be rewarded, especially in the next few months as winter markets are the best markets for buyers in beach front communities like Destin.

Destin Condo Sales Slow, but Not Stagnant. While the market is slower than normal, it is far from stagnant with an average of 111 new and existing condos sales per month. If you find that perfect beach property - go for it. Don't count on it being available later. Don't confuse "slow sales" with "no sales" and remember that there are likely to be other bargain shoppers looking at the same property you are for all the same reasons.

True Bargains are Scarce. Buyers searching for bargains must do their homework. Real bargains are scarce, but smart buyers are the rule these days and they seem to have a way of finding them. Seller's who price carelessly receive no attention and quickly become frustrated as the time on the market grows. Sellers who price well, however, are rewarded with a quick sale from bargain hungry buyers.

Condo Value Trends. Statistics show condo values along the coast have adjusted downward 30-35% from their market peaks in mid- 2005. Although a slight downward trend continues, recent decreases in interest rates, property taxes, and hazard insurance are beginning to lessen the cost of ownership and assert a positive effect in our local market tempo.

What does this mean to condo buyers and sellers? The higher than normal condo inventory will likely sustain the current buyer's market throughout the upcoming year. The rate of downward momentum (the rate of which prices fall) is diminishing by most analytical accounts.

1. Sellers should be prepared to price aggressively to catch the interest of buyers in our high-inventory market. Make certain you are the lowest comparable price in your condo complex if you want to sell.
2. Buyers should choose their target property now to gain better pricing in a winter market where buyers are scarce. Although time is still on the side of the buyer, slowly improving conditions (lower property tax, interest rates, and insurance quotes) may end the prime buying opportunity earlier than originally projected.

Source : http://www.destin123.com/

Developer proposes 160-foot condo for Destin harbor

Plans for a 160-foot condo tower on the Destin harbor are a good sign for the city’s future, Chamber of Commerce Director/CEO Shane Moody says.

“I think it means the company sees what lies ahead for the city of Destin,” Moody told The Log. “The harbor is a very special place — they see the qualities that are in the harbor and can envision the development of the harbor walk and understand that is the future of Destin tourism.”

Giligan's Development has proposed building Harbor Reflections, a 15-story, 49,739 square-foot building with 28 condo units, on the 1.14 acres of waterfront that now house Gilligan’s Restaurant and Watersports.

The Destin City Council will hold its development hearing on Harbor Reflections Thursday. Development hearings are public, but they’re quasi-judicial procedures, conducted like trials with evidence and sworn testimony. Council decisions are supposed to be based entirely on the facts presented in the hearing, which means they can’t discuss the development with Destin citizens before the hearing.

Harbor Reflections will be a next door neighbor to a Destin dining mainstay

Harbor Docks owner and former city councilor Charles Morgan said he wishes the developers well in trying to move 15 stories worth of harborfront condos in a slow real estate market.

“We’re good neighbors and if it’s going to bring people to eat at our restaurant, from a business standpoint, that’s fine by me. We’re pulling for everybody, so good luck,” he said. “Those harborfront condos have typically been slow movers, and if you’re looking to buy a condo and you want peace and solitude, don’t come to the harbor. This is supposed to be a lively, vibrant place.”

Harbor Reflections is the first Tier Three project to come before the council under the tiering system established three years ago in Destin’s Land Development Code:

•Tier One projects conform to the normal height and density — the number of units allowed per acre — for their land-use category.

•Tier Two allows taller buildings and denser development if the project meets stricter design standards regarding open space, roof design, setbacks and other aspects.

•Tier Three allows greater height and density in return for “negotiated public benefits.” It’s entirely up to the council whether a proposed benefit would be acceptable or not.

Last year, the council voted to allow developers to have their proposed benefit reviewed by the city ahead of going through the permit process, so that if the benefit wasn’t acceptable, the developer wouldn’t have wasted time and money designing the project around it.

Community Development Director Jerry Mucci said that neither Harbor Reflections nor the other two Tier Three projects under review — HarborWalk Village Phase II and Beach Pointe Condominiums — have taken advantage of that option.

Harbor Reflections has proposed benefits including burying overhead utility cables; adding amenities to the nearby Benning Drive Destin shuttle stop; putting $435,000 into the city’s capital-improvement fund; and providing a landscaped access to the city’s planned Destin harbor boardwalk.

Requiring public benefits from Tier Three, city staff have said, will prevent condo towers such as Harbor Reflections from shutting out the public from the boardwalk and the waterfront.

“I think the system that’s in place will limit the number of developments that size,” Moody said. “I still think we’ll be able to preserve the quaint history and heritage of the harbor.”

Source : http://www.nwfdailynews.com/

One Waters Place is Destin's newest condo

DESTIN — When it comes to One Water Place, homeowners might start feeling like they’re on vacation.

The new luxury condominium development in Kelly Plantation combines upscale accommodations with above and beyond amenities unique to non-rental properties.

“This is the first residential resort that we’ve had in the Destin/Fort Walton (Beach) area where the condominiums are large and designed as primary residences, or even as vacation homes, yet there are the amenities you find at a vacation resort,” said Donna Jonsson, sales manager for the Sterling Companies, developer of the property.

One Water Place, which hosted its grand opening in October, has 161 units, including nine penthouses, spread over three connecting high-rise buildings. Residences start at $825,000, with penthouses starting at $1.5 million. The Sterling Companies have already closed more than $100 million in sales, Jonsson said.

For Betty and Gary Lazarini, it was size of the homes as well as the fairways that prompted them to move to One Water Place.

“We used to be on the gulf at Hidden Dunes, but we’re golfers,” said Betty Lazarini. “While we loved the other place, this is larger. We have the bay view, the gulf view and the golf course.”

The five different floor plans run from 2,500 to 3,400 square feet, ranging from two bedrooms to three bedrooms plus study. The nine penthouses are bigger, measuring as large as 6,000 square feet. The largest penthouses are completely customized, with buyers able to make interior selections.

The condominiums feature Viking appliances, hardwood and travertine flooring, fireplaces, built-in shelving and summer kitchens. Each unit opens to a shared area with utility access, a garbage shoot and additional storage.

All have both north- and south-facing balconies with Choctawhatchee Bay and golf course views. Units above the seventh floor can also see the Gulf of Mexico.

The Lazarinis bought their unit prior to construction, and while they were originally unsure about the promised view, the condominium more than met their expectations when they moved in June. “I’ve not been disappointed at all. We’ve used the spa and fitness center, and it’s all first class,” said Betty Lazarini.

The Lazarinis split their time between homes in Destin and Memphis. Jonsson said that many residents also have a home elsewhere, as One Water Place appeals to former single-family homeowners looking to transition to a “lock-and-leave lifestyle.”

“The people that this property appeals to don’t want the maintenance and upkeep of a single-family home,” she said. “They want to be able to travel and know their home will be fine.”

The property has a live-in manager, as well as on-site staff, which provide residents peace of mind when they are out of town. In addition to the security from Kelly Plantation’s gated, staffed entrances, One Water Place has electronically controlled access points, with private elevator entry. Parking is on two underground levels, with golf cart parking also available.

Each of the three buildings offers different amenities. One building caters to golfers, with practice cages, a putting green and a high-tech golf simulator.

Building one features a large bi-level pool area and a 5,000-square-foot fitness and spa, managed by a full-time amenities manager. The workout area features individual screens on cardio equipment, a steam room and a variety of exercise classes.

Other specialty rooms include a casual club room with billiards, a screening room with a big screen television, a game room, a more formal club room with a catering kitchen, a library, a hobby shop and gardeners’ room. There are also temperature-controlled wine rooms with storage lockers available.

In addition to the amenities of the project, residents can also enjoy the features of Kelly Plantation, including the golf course, tennis courts, walking trails and playgrounds. Jonsson said the subdivision’s full-time activities director and on-going events are a plus for newcomers to the Northwest Florida area.

“There’s much more sense of community with Kelly Plantation,” she said. “It’s really easy to become absorbed in this community.”

Although the development does have a vacation feel to it, there are no short-term rentals. Each building does include a guest suite, available upon request by residents.

Jonsson said the new development appeals to buyers who want the resort lifestyle while still having a “home” feeling.

“For people who haven’t made Destin their full-time home, this is a good step, because it just feels like a real home,” she said. “The spaces are just beautiful – it’s just a lovely place to be. You have more than just your home to enjoy.”

Source : http://www.nwfdailynews.com/

Destin Rentals

When searching for the perfect place to kick back on a warm sandy beach and listen to the waves crashing ashore, consider the surreal beauty and pleasant atmosphere of a Destin vacation getaway. Destin is ideally situated along the Gulf of Mexico for a relaxing retreat to a truly unique paradise, so pack your bags and get ready to settle into a cozy vacation rental for your weeklong adventure.

When you stay in a Destin vacation rental, you are actually staying miles beyond the everyday accommodations. You can find numerous beachfront homes that place you mere steps from the sugar white sand and sparkling green waters of the Emerald Coast, meaning a day at the beach is always stunning and never a hassle. Simply pack up your day s supplies and step out the back door, where a fun-filled day of swimming, sunbathing, and sandcastle-building await.

While arriving at the water means a simple stroll through the soft sand, there is more to your accommodations than simply convenient beach access. Waterfront vacation homes are the perfect stress reliever for anyone who wants to escape a busy and hectic lifestyle. Imagine waking up to the sound of the waves turning over and wandering out to your balcony to watch the brilliant sunrise over the green expanse. Breathtaking views and utter relaxation are calling out to you when you stay in a home or condo rental along Destin s stunning shores.

Although there are plenty of attractions around Destin that could certainly fill up your entire trip, remember that your condo rental also has plenty of extras to occupy any down time. Many of the Destin condo rentals allow access to tennis courts, multiple swimming pools, and fitness and recreation rooms while surrounding you with some of the most beautiful sights in the area. When you consider that many homes also come with private pools, you truly have the makings of an exciting, activity-packed vacation getaway.

In addition to these extras, your Destin vacation rental is also fully-stocked with all the amenities and comforts of home. Enjoy a fully-equipped kitchen, plenty of bedrooms, numerous TVs and DVD players, a washer and dryer, and a large patio where you can sit back at the end of the day and watch the breathtaking sunset. Rather than staying in a sterile and unwelcoming hotel room that you try to avoid at all costs, choose an accommodating home away from home that serves as the perfect jumping off point to an exciting and enjoyable day.

Destin rentals are the ideal accommodations choice for anyone who wants to escape to this picturesque paradise without losing any of the luxuries and conveniences of home. Stay within waking distance of a pristine beach and enjoy all of the little extras that add up to make your vacation more relaxing than you ever thought possible. To realize the dream Emerald Coast vacation you always imagined, begin your search for a Destin vacation rental today and head out for a truly peaceful sun and sand getaway tomorrow.

Source : http://www.travel-trend.net/