Panama City Beach Condos 2008
Luxury high-rise Condos. Limited beachfront property fueled the expansive condominium development in Panama City Beach, Florida. The acquisition of mom and pop motels were at the heart of the redevelopment surge. Tower cranes, a familiar fixture for several years, have diminished considerably. New elegant high-rise condos with lush landscaping and full amenities have transformed the Panama City Beach coastline. More info.
Redevelopment redefines the market. Developers and investors headed for Panama City Beach’s Emerald Coast. A transition is underway for the city once dubbed the Spring Break capital of the world and the less-flattering moniker, the Redneck Riviera. First-class amenities redress the funkiness of the past; Redevelopment equals transformation. The city is positioned to compete as more upscale destinations like Destin, Fort Walton, and Rosemary Beach.
Condo Update. As of Aug 2007, the Greater Panama City Beaches Chamber of Commerce reports that 20,768 new units are open. These include hotels, condominiums, and single-family residences. An additional 5,871 are slated to open in 2008. The transitioning into a more upscale market is evidenced by the quality of the new condos and resorts. Tourists are courted with promises of spectacular views from their beach front suites, saunas, covered and patrolled parking facilities, internet, full exercise rooms, elegant appointments and designers decorated rooms, tiki bars and pools overlooking the Gulf of Mexico.
Beyond 2008. The outlook is for a sustained more reasonably paced growth. With 6,300 units to be completed between 2008 and 2010. Dates for completion for as additional 15,000 plus units are to be announced at a later date.
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