ICON Estates to Sell Emerald Coast Development Parcels

Miami, FL, October 24, 2006 --(PR.com)-- Few resort areas have received as much attention in recent years as the Emerald Coast of northwest Florida. Stretching from Destin across Holiday Isle west to Fort Walton Beach, the Emerald Coast is home to some of the world’s most beautiful beaches. The area is famous for sand as white as sugar and the warm, emerald-green waters of the Gulf of Mexico. It is a place where the ocean breeze blows year ‘round, where suntanned youngsters happily chase seashells in the surf, and where life is designed to move more slowly.

Into this idyllic setting comes Watermark Condominiums, which is raising the development bar and establishing a new standard for luxury.

Record-setting growth

Destin and the Emerald Coast were once a well-kept secret. Southerners spent spring and summer in Destin, then returned home each fall to make room for Canadian snowbirds who occupied almost every available beach house and rental condo for the remaining six months. In those days, only a few seafood restaurants dotted the beach, and many of those owners closed shop and left town during the slow winter months.

But in the past decade, development of the area set records. Small, private bungalows gave way to high-rise condominium developments along the beach. Amenities such as five-star dining, family entertainment venues and upscale shopping followed, creating a more modern Emerald Coast and drawing visitors and retirees from throughout the country. Property values soared; smart investors were rewarded with tidy profits without setting foot inside their condominiums. Others who have bought in the area enjoy the residual rental income the area affords.

Despite the increase in condominium units, the vacation rental market has remained strong throughout Destin’s growth and development. Following 2005’s devastating hurricane season, the Emerald Coast rebounded more quickly than other areas harder hit. A benefit of the storms is that new construction such as Watermark meets stronger building standards requiring concrete and steel construction. During peak months the area’s population of 5,000 full-time residents swells to twice its size.

Elaborate amenities 

Watermark is located just off the beach road (US 98) and will feature over 700 condominiums in two phases. The developer is Rudnick Development, a commercial real estate development company based in Tallahassee that specializes in commercial leasing and real estate development services. 

The two parcels are offered as a global sale, with an asking price of $64 million or separately at $28.5 million and $35.5 million. 

The site is only minutes away from a wide variety of fine and casual dining, elegant boutiques, and Silver Sands Factory Stores, billed as the nation's largest designer outlet center.

It is less than two miles from historic Destin Harbor, which houses the world’s largest privately-owned fishing fleet. The evening arrival and unloading of the fishing fleet is still an attraction to tourists and locals alike, and some of Destin’s most popular nightspots and restaurants overlook the docks. Because Destin offers the only open water pass and harbor leading to the Gulf of Mexico for 100 miles, several marinas with dry storage for boats of up to 30 feet are nearby. Twenty championship golf courses are within an easy drive; commercial air service is located less than an hour east or west, in Panama City or Fort Walton. 

ICON Estates, Inc. of Miami is the exclusive sales and marketing agent for the Watermark Projects. According to CEO David Diaz, Watermark’s elaborate amenities will include a spectacular swimming pool and spa complex, the largest in the area at more than 13,000 square feet. Designed as the heart of Watermark, the breathtaking design features multiple tiers, an interactive fountain, extensive landscaping and a heated pool for enjoyment all year. A fully equipped fitness center, community clubhouse, game room and children’s play area add to the Watermark experience for seasonal visitors and year ‘round residents alike. A private service will shuttle Watermark’s residents to the nearby beach. 

Watermark’s signature quality extends to the interiors. Granite, tile, crown molding and custom-wood cabinets are abundant and designed for those with discerning tastes. The state-of-the-art buildings are a technophile’s dream, with "smart" technology by DSSI, new generation phone service, true broadband internet, and wireless keyboard control for television. Even the television service begs superlative description, with 70 channels, seven Home Box Office channels, cable, and entertainment and movies on demand.

Floor plans have been designed with the best use of space and plenty of windows for breathtaking views. In Phase I, average square feet per condo is approximately 1,106; in Phase II the average is approximately 1,091. The buyer’s choices include a 1-bedroom, 2-bath design with bunk area at approximately 1,024 square feet, a 1-bedroom/1-bath/study/bunk design at approximately 1,279 square feet, and a 2-bedroom/2-bath design also at approximately 1,279 square feet. Watermark’s design calls for a total of five buildings, the tallest of which will rise to eight impressive stories.

Adding to Watermark’s appeal is the fact that more than half of the undeveloped land remaining along the Emerald Coast is owned by either a private company, the State of Florida or the US Government, whose Eglin Air Force Base occupies a substantial portion. In addition, many areas are protected wetlands unsuitable for development because of environmental concerns. All of these factors combine to make Watermark even more of a rare gem among the pleasures of the Emerald Coast. 

For a Broker Package outlining these parcels and co-broker compensation of (3%) three percent, please contact:

David Diaz, CEO
Licensed Real Estate Broker
ICON Estates, Inc.
Office: 888.859.ICON (4266)

Email: david.diaz@Onlyicon.com
www.OnlyIcon.com

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