http://www.pnj.com/article/20111123/NEWS01/111230333/Perdido-gets-bed-tax-pitch-from-Pensacola-area-hotel-owners
The owners of several major Pensacola area hotels met with Perdido Key residents Tuesday to enlist their help in changing how $4 million in Escambia County's bed tax dollars are spent annually.
The group of hoteliers favor stripping the authority for tourism spending promotion from the Pensacola Bay Area Chamber of Commerce. They have formed a local chapter of the Florida Restaurant and Lodging Association to promote the change.
Innisfree Hotels CEO Julian MacQueen said the meeting at the Perdido Bay Community Center was "a sincere effort" to extend an olive branch to Perdido Key business leaders who felt snubbed by the hoteliers' determined drive to overhaul tourism marketing.
MacQueen was joined by Marilyn Hess, whose properties include the Crowne Plaza and Margaritaville Beach Hotel, Highpointe Hotel co-founder Dave Cleveland, Robert Rinke, a partner in Levin and Rinke Resort Realty, Pensacola Beach Realtor Noel Faddis and Tosh Belsinger of Gulf Blue Vacations.
"This is not a new cause, and it's not a secret cause," MacQueen said about the hoteliers' plans. "It's a cause we've been fighting for for 15 or 20 years. It was never our intention to eliminate or offend Perdido Key."
Of those attending the meeting, many expressed their frustration with the current structure of tourism marketing, and their concern that Perdido Key will have proportional representation on any new agency spending bed tax dollars.
"I promise you the current (tourism marketing) program doesn't work, and it doesn't work for anyone in this room," said Greg Jones, a member of the Tourism Development Council, and a branch sales manager for WCI, a major developer on the island. "I don't know yet what the right program is, but today's program is not the right one."
Perdido Key Chamber of Commerce Chairwoman Alison Davenport stressed the need for the key to be fully represented on any new governing agency.
Cleveland told the audience the group is focused solely on "putting heads in beds" throughout all of Escambia County, and not just on Pensacola Beach.
MacQueen said the overall goal of the group is to create a "single brand and a single message" for Escambia County's tourism marketing efforts.
"I was happy with the way the meeting went today," MacQueen said.
Ft. Mcree @ Pensacola Pass
Click on the image to search local Condominiums on Perdido Key
Wednesday, November 23, 2011
Thursday, November 17, 2011
Vision Bank sold to Arkansas's Centennial | al.com
Vision Bank sold to Arkansas's Centennial al.com: Vision Bank sold to Arkansas's Centennial..
MOBILE, Alabama -- Arkansas-based Centennial Bank announced Thursday an agreement to buy 17 Vision Bank branch locations, all of its deposits and a majority of the bank's performing loans from Park National Corp.
Vision is the third-largest bank in Baldwin County by market share with $364 million in deposits -- an 11.25 percent share, according to federal data. It has eight offices in the county.
The purchase price is $27.9 million, according to a filing from Centennial's parent company, Home BancShares Inc.
Centennial will acquire $535 million in deposits and $379 million in loans as part of the agreement, which is subject to regulatory approvals and is expected to be complete in early 2012.
Vision branches will become Centennial branches once the deal is complete. Company officials said Vision customers should continue to bank as normal until then.
The move allows Centennial to increase its footprint in Florida and expand into Alabama, officials said.
"It will be a new beginning for the Vision bankers and directors, working without the burden of problem assets," said John W. Allison, chairman of Home BancShares.
Vision was heavily invested in beach properties that saw values plummet and bad loans during the real estate crisis.
It had been bleeding money for Ohio-based Park National, which owns several community banks. For example, during the first three months of 2011, Vision lost $7.6 million while Park National posted an overall profit of $21.4 million.
Vision lost $29.3 million in 2010 and $30.1 million in 2009.
Park National officials said it will keep some nonperforming loans and merge them with a non-bank subsidiary, SE Property Holdings LLC.
Park National officials said the sale will result in a pre-tax gain of $10 million to $12 million and will strengthen the company's capital ratios.
Park National acquired Panama City, Fla.-based Vision Bank in March 2007 in a deal valued at about $165 million.
Related topics: Centennial Bank, Home BancShares, Park National Corp., Vision Bank, banking
MOBILE, Alabama -- Arkansas-based Centennial Bank announced Thursday an agreement to buy 17 Vision Bank branch locations, all of its deposits and a majority of the bank's performing loans from Park National Corp.
Vision is the third-largest bank in Baldwin County by market share with $364 million in deposits -- an 11.25 percent share, according to federal data. It has eight offices in the county.
The purchase price is $27.9 million, according to a filing from Centennial's parent company, Home BancShares Inc.
Centennial will acquire $535 million in deposits and $379 million in loans as part of the agreement, which is subject to regulatory approvals and is expected to be complete in early 2012.
Vision branches will become Centennial branches once the deal is complete. Company officials said Vision customers should continue to bank as normal until then.
The move allows Centennial to increase its footprint in Florida and expand into Alabama, officials said.
"It will be a new beginning for the Vision bankers and directors, working without the burden of problem assets," said John W. Allison, chairman of Home BancShares.
Vision was heavily invested in beach properties that saw values plummet and bad loans during the real estate crisis.
It had been bleeding money for Ohio-based Park National, which owns several community banks. For example, during the first three months of 2011, Vision lost $7.6 million while Park National posted an overall profit of $21.4 million.
Vision lost $29.3 million in 2010 and $30.1 million in 2009.
Park National officials said it will keep some nonperforming loans and merge them with a non-bank subsidiary, SE Property Holdings LLC.
Park National officials said the sale will result in a pre-tax gain of $10 million to $12 million and will strengthen the company's capital ratios.
Park National acquired Panama City, Fla.-based Vision Bank in March 2007 in a deal valued at about $165 million.
Related topics: Centennial Bank, Home BancShares, Park National Corp., Vision Bank, banking
Thursday, November 10, 2011
Tourism numbers could hit record 5 million one year after oil spill | al.com
Tourism numbers could hit record 5 million one year after oil spill al.com: Tourism numbers could hit record 5 million one year after oil spill
GULF SHORES, Alabama -- After a 47 percent drop following the 2010 oil spill, Baldwin beach attendance are expected to hit a record 5 million visitors this year, tourism officials said Friday.
That number, up from 4.6 million in 2009, would also mean about $2.5 billion in visitor spending and 45,000 jobs, Herb Malone, director of Gulf Shores/Orange Beach Tourism told members of the Alabama Gulf Coast Area Chamber of Commerce.
“In the face of what happened last year, in the face of the nation’s worst recession in memory, we did OK,” Malone said.
Malone said final totals for 2011 won’t be known until 2012. The $237 million spent on lodging so far this year has already topped the previous record of $228 million for 2007.
In 2009, visitors spent about $2.3 billion in an industry that created about 40,000 jobs. Lodging revenue for the summer of 2011 was 16 percent more than in 2009, Malone said. Retail spending was up 9.3 percent.
Part of the reason for the increase was a marketing campaign funded with money from BP PLC, according to an Gulf Shores/Orange Beach Tourism statement.
Malone said television commercials featuring celebrities such as former Alabama coach Gene Stallings and Auburn coach Pat Dye and well as print and Internet advertising helped promote the region.
In a statement issued Friday, Lee Sentell, director of the Alabama Tourism Department, said the marketing effort helped the region recover from the economic effects of the spill.
“We are excited that Alabama’s Gulf Coast beaches were able to rebound so quickly and to set record numbers on top of it,” Sentell said. “The BP funding allowed us to market effectively to travelers and those efforts paid off. We will continue to promote our Gulf Coat and hope to continue to set records.”
Malone said the area is well positioned to continue to attract “post-recession consumers,” who are looking for value as well as enjoyment.
“We still spend money, but we’re more selective about what we buy,” Malone said.
He said the area has long appealed to families and older visitors. Events such as the Hangout Music Festival and Wharf concert series have also helped promote the region with younger adults.
Sports events have also helped promote the region. Spending on events such as the SEC Women’s Soccer Tournament increased from $3 million in 2008 to $16 million in 2011.
Gulf Shores/Orange Beach Tourism has also become a sponsor of the SEC. Malone said the beach area’s prime market is also the region included in the conference.
GULF SHORES, Alabama -- After a 47 percent drop following the 2010 oil spill, Baldwin beach attendance are expected to hit a record 5 million visitors this year, tourism officials said Friday.
That number, up from 4.6 million in 2009, would also mean about $2.5 billion in visitor spending and 45,000 jobs, Herb Malone, director of Gulf Shores/Orange Beach Tourism told members of the Alabama Gulf Coast Area Chamber of Commerce.
“In the face of what happened last year, in the face of the nation’s worst recession in memory, we did OK,” Malone said.
Malone said final totals for 2011 won’t be known until 2012. The $237 million spent on lodging so far this year has already topped the previous record of $228 million for 2007.
In 2009, visitors spent about $2.3 billion in an industry that created about 40,000 jobs. Lodging revenue for the summer of 2011 was 16 percent more than in 2009, Malone said. Retail spending was up 9.3 percent.
Part of the reason for the increase was a marketing campaign funded with money from BP PLC, according to an Gulf Shores/Orange Beach Tourism statement.
Malone said television commercials featuring celebrities such as former Alabama coach Gene Stallings and Auburn coach Pat Dye and well as print and Internet advertising helped promote the region.
In a statement issued Friday, Lee Sentell, director of the Alabama Tourism Department, said the marketing effort helped the region recover from the economic effects of the spill.
“We are excited that Alabama’s Gulf Coast beaches were able to rebound so quickly and to set record numbers on top of it,” Sentell said. “The BP funding allowed us to market effectively to travelers and those efforts paid off. We will continue to promote our Gulf Coat and hope to continue to set records.”
Malone said the area is well positioned to continue to attract “post-recession consumers,” who are looking for value as well as enjoyment.
“We still spend money, but we’re more selective about what we buy,” Malone said.
He said the area has long appealed to families and older visitors. Events such as the Hangout Music Festival and Wharf concert series have also helped promote the region with younger adults.
Sports events have also helped promote the region. Spending on events such as the SEC Women’s Soccer Tournament increased from $3 million in 2008 to $16 million in 2011.
Gulf Shores/Orange Beach Tourism has also become a sponsor of the SEC. Malone said the beach area’s prime market is also the region included in the conference.
Wednesday, November 2, 2011
National Seashore expects approval of ferry pier | Pensacola News Journal | pnj.com
National Seashore expects approval of ferry pier Pensacola News Journal pnj.com: National Seashore expects approval of ferry pier
Link to Article: http://www.pnj.com/apps/pbcs.dll/article?AID=2011111010309
The superintendent of the Gulf Islands National Seashore expects to get the OK today from the National Park Service to build a ferry pier at Fort Pickens with $2.8 million secured last year.
A ferry system to shuttle passengers from Pensacola Beach across Pensacola Bay to downtown or Pensacola Naval Air Station has been studied for more than 30 years.
"The ferry pier has been included in all our planning documents since the early days of the seashore," Superintendent Dan Brown said. "The pier is one very significant step in implementing the system."
A ferry system would resolve one of Fort Pickens' biggest problems: providing alternative transportation to the popular park when the only road washes out during storms.
"We have more than 700,000 visitors coming to Fort Pickens a year," he said. "It's the most heavily visited site in the National Seashore. The idea is to continue that access."
If the Park Service's development advisory board approves today, Brown will green-light the U.S. Army Corps of Engineers to seek bids for a contractor.
Construction could begin in January and take six to eight months.
The next hurdle would be buying at least two or three ferry boats. The cost of the boats has not been determined because the type and size needed has not been nailed down, Brown said.
Brown has been making the rounds drumming up support from City of Pensacola, Escambia County, Santa Rosa Island Authority, and NAS officials. Everyone wants the ferry system, he said.
"All of us are looking at grant sources to see if we can get funding for boats," he said.
Brown has a strong advocate in Pensacola Mayor Ashton Hayward.
"(The National Seashore) is a huge draw, and being able to connect that beautiful beach with our downtown would be a tremendous opportunity," he said. "This is an issue that I am constantly bringing up in Tallahassee and in Washington, D.C., and I hope that we can all work together to make this happen."
Escambia County Commissioner Grover Robinson is convinced a ferry system will be in place in 2013, with the Seashore spearheading the effort.
(Page 2 of 2)
"No doubt, this is one project we'd like to see happen," he said. "We just have figure out how to get there."
The county is seeking money for a ferry system from the $100 million BP paid to the state for early restoration projects or from fine money BP is likely to pay through Clean Water Act fines, Robinson said.
Among the details to iron out is who would manage the system.
One idea is to set up the Fort Pickens ferry similar to the Seashore's West Ship Island ferry system in Mississippi.
A vendor operates that system, which attracts 1,000 paying riders a day during the peak season.
The Seashore's contract with the vendor that operates the two park stores expires at the end of 2012, and that would be the perfect time to "fold in" the management of the ferry into that contract, Brown said.
Laura Lee, a spokeswoman for the Pensacola Bay Area Chamber of Commerce, is hopeful local officials will find money to support the ferry system because the bay offers the most beautiful views of the area.
"If there is a way to get everyone to all those attractions by ferry, it would be great benefit to our area," she said.
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Pensacola man charged in fatal wreck (PNJ.com)
Pace's Troy Gaoa suspended from football team (PNJ.com)
NCAA president favors $2,000 payments to student athletes (PNJ.com)
FELONY ARRESTS: Oct. 29, 2011 (PNJ.com)
Pace teacher could be fined for late voter registrations (PNJ.com) SPONSORED
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Link to Article: http://www.pnj.com/apps/pbcs.dll/article?AID=2011111010309
The superintendent of the Gulf Islands National Seashore expects to get the OK today from the National Park Service to build a ferry pier at Fort Pickens with $2.8 million secured last year.
A ferry system to shuttle passengers from Pensacola Beach across Pensacola Bay to downtown or Pensacola Naval Air Station has been studied for more than 30 years.
"The ferry pier has been included in all our planning documents since the early days of the seashore," Superintendent Dan Brown said. "The pier is one very significant step in implementing the system."
A ferry system would resolve one of Fort Pickens' biggest problems: providing alternative transportation to the popular park when the only road washes out during storms.
"We have more than 700,000 visitors coming to Fort Pickens a year," he said. "It's the most heavily visited site in the National Seashore. The idea is to continue that access."
If the Park Service's development advisory board approves today, Brown will green-light the U.S. Army Corps of Engineers to seek bids for a contractor.
Construction could begin in January and take six to eight months.
The next hurdle would be buying at least two or three ferry boats. The cost of the boats has not been determined because the type and size needed has not been nailed down, Brown said.
Brown has been making the rounds drumming up support from City of Pensacola, Escambia County, Santa Rosa Island Authority, and NAS officials. Everyone wants the ferry system, he said.
"All of us are looking at grant sources to see if we can get funding for boats," he said.
Brown has a strong advocate in Pensacola Mayor Ashton Hayward.
"(The National Seashore) is a huge draw, and being able to connect that beautiful beach with our downtown would be a tremendous opportunity," he said. "This is an issue that I am constantly bringing up in Tallahassee and in Washington, D.C., and I hope that we can all work together to make this happen."
Escambia County Commissioner Grover Robinson is convinced a ferry system will be in place in 2013, with the Seashore spearheading the effort.
(Page 2 of 2)
"No doubt, this is one project we'd like to see happen," he said. "We just have figure out how to get there."
The county is seeking money for a ferry system from the $100 million BP paid to the state for early restoration projects or from fine money BP is likely to pay through Clean Water Act fines, Robinson said.
Among the details to iron out is who would manage the system.
One idea is to set up the Fort Pickens ferry similar to the Seashore's West Ship Island ferry system in Mississippi.
A vendor operates that system, which attracts 1,000 paying riders a day during the peak season.
The Seashore's contract with the vendor that operates the two park stores expires at the end of 2012, and that would be the perfect time to "fold in" the management of the ferry into that contract, Brown said.
Laura Lee, a spokeswoman for the Pensacola Bay Area Chamber of Commerce, is hopeful local officials will find money to support the ferry system because the bay offers the most beautiful views of the area.
"If there is a way to get everyone to all those attractions by ferry, it would be great benefit to our area," she said.
View Comments (7)
Share your thoughts »
Pensacola man charged in fatal wreck (PNJ.com)
Pace's Troy Gaoa suspended from football team (PNJ.com)
NCAA president favors $2,000 payments to student athletes (PNJ.com)
FELONY ARRESTS: Oct. 29, 2011 (PNJ.com)
Pace teacher could be fined for late voter registrations (PNJ.com) SPONSORED
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Wednesday, September 28, 2011
Orange Beach officials reach settlement with BP for part of revenue lost because of oil spill | al.com
Orange Beach officials reach settlement with BP for part of revenue lost because of oil spill al.com: Orange Beach officials reach settlement with BP for part of revenue lost because of oil spill
Originally published by the Mobile Press Register
ORANGE BEACH -- After a year of negotiations, Orange Beach officials have reached a settlement with oil giant BP PLC for a portion of revenue lost during last year’s oil spill.
But city leaders still believe they are owed upwards of $6 million.
The drawn-out, $1.27 million settlement would pay for lodging and retail revenue, along with a few other “small claims,” according to Mayor Tony Kennon.
He said the settlement was finally reached when BP agreed to pay an additional $300,000.
That figure does not include money from franchise taxes, sewer fees, business licenses and building permits, particularly for multimillion-dollar projects that could have come to fruition but did not because of the oil spill, said Clara Myers, the Orange Beach finance director.
“It takes some time to figure out what hasn’t come to town,” Myers said.
At a work session Tuesday night, the City Council appeared to agree that the figure was right. A vote is expected at a regular council meeting next week.
“That’s a nice settlement right there for that portion of it,” Councilman Brett Holk said.
Kennon said the agreement brings the city to a roughly 10 percent increase in lodging and retail revenue over 2009 figures.
“We used this summer as validation for our claim that we could have been up 15-20 percent in 2010, had it not been for the oil spill,” he said. “But the bottom line is, we knew what was fair, and we just stood by that number.”
Kennon said the city would continue to fight for other forms of lost money using “whatever legal avenues we have to go through to go after that revenue.”
Asked whether reaching a deal on that figure would ultimately satisfy city leaders, Kennon responded: “We’ll feel a whole lot better about being whole. They can never make us whole, because ‘whole’ incorporates more than just money. You can’t give back the time that we missed with our children on the water, our summer -- you can’t give that back.”
In neighboring Gulf Shores, officials agreed to a $1.8 million settlement for 2010 lost revenue late last year.
BP officials have acknowledged working with the Pleasure Island municipalities, but have declined to discuss settlement deals
Originally published by the Mobile Press Register
ORANGE BEACH -- After a year of negotiations, Orange Beach officials have reached a settlement with oil giant BP PLC for a portion of revenue lost during last year’s oil spill.
But city leaders still believe they are owed upwards of $6 million.
The drawn-out, $1.27 million settlement would pay for lodging and retail revenue, along with a few other “small claims,” according to Mayor Tony Kennon.
He said the settlement was finally reached when BP agreed to pay an additional $300,000.
That figure does not include money from franchise taxes, sewer fees, business licenses and building permits, particularly for multimillion-dollar projects that could have come to fruition but did not because of the oil spill, said Clara Myers, the Orange Beach finance director.
“It takes some time to figure out what hasn’t come to town,” Myers said.
At a work session Tuesday night, the City Council appeared to agree that the figure was right. A vote is expected at a regular council meeting next week.
“That’s a nice settlement right there for that portion of it,” Councilman Brett Holk said.
Kennon said the agreement brings the city to a roughly 10 percent increase in lodging and retail revenue over 2009 figures.
“We used this summer as validation for our claim that we could have been up 15-20 percent in 2010, had it not been for the oil spill,” he said. “But the bottom line is, we knew what was fair, and we just stood by that number.”
Kennon said the city would continue to fight for other forms of lost money using “whatever legal avenues we have to go through to go after that revenue.”
Asked whether reaching a deal on that figure would ultimately satisfy city leaders, Kennon responded: “We’ll feel a whole lot better about being whole. They can never make us whole, because ‘whole’ incorporates more than just money. You can’t give back the time that we missed with our children on the water, our summer -- you can’t give that back.”
In neighboring Gulf Shores, officials agreed to a $1.8 million settlement for 2010 lost revenue late last year.
BP officials have acknowledged working with the Pleasure Island municipalities, but have declined to discuss settlement deals
Thursday, August 25, 2011
Maritime Park Costs to be audited
Originally Published by the Pensacola News Journal
Link: http://www.pnj.com/article/20110825/NEWS01/108250316/Maritime-Park-audit-expenses?
The Community Maritime Park Associates board will hire a Pensacola accounting firm to conduct an independent audit of the $54.7 million park project's finances and payments to vendors.
While the audit will explore the many changes in the CMPA's budget, it will focus heavily on the "soft costs," expenses not directly tied to construction materials and labor, such as the costs of engineering, architectural design, legal fees, consultants, financing, advertising and marketing.
Soft costs have become a concern because they are coming in higher than anticipated for a project of this size and scope.
The motion for the audit was made by CMPA board member Larry B. Johnson, who had asked for such an audit at a previous meeting.
Johnson said some citizens have questioned him about park costs since a Sunday article in the News Journal that detailed $23.8 million in expenditures to 117 vendors.
"To try and restore some of the public's trust in this project, I feel a more complete audit is warranted," Johnson said. "I want to know where every penny has been spent and who authorized every transaction. I want a more complete accounting of that to get a better comfort level for where this money has been spent."
The board voted 9-3 for the accounting firm Saltmarsh Cleaveland & Gund to be hired at a cost not to exceed $18,000 to do the audit. The work is to be done within 30 days, according to the motion.
Board members voting in favor of the audit were Brian Spencer, Dick Baker, Samuel Bolden, Audra Carter, Collier Merrill, Megan Pratt, Jim Reeves, Jim Smith and Johnson. Board members opposed were Jimmy Jones, John Merting and E.C. "Buddy" McCormick Jr. Members LuTimothy May and Juanita Scott were absent.
The intent of the audit is to drill into the details of the payments to, and work performed by, every vendor paid more than $10,000 on the project through Aug. 26, covering hard and soft costs.
It will document the history of CMPA construction budget activity from the project's inception through Aug. 26.
The audit also will:
» Examine the amount of each transaction to each vendor.
» Identify any subcontractors used by the vendor.
» Identify who approved each transaction.
» Document that individual's authority to approve the transaction.
McCormick said his concern was that the $18,000 cost of the audit will add to the CMPA's soft costs.
"I voted against that audit because I thought there were enough things in place with (CMPA Executive Director) Ed Spears, and Saltmarsh, and others we have had hired," McCormick said. "I just thought it was a duplication of effort and that we needed to save the money."
Link: http://www.pnj.com/article/20110825/NEWS01/108250316/Maritime-Park-audit-expenses?
The Community Maritime Park Associates board will hire a Pensacola accounting firm to conduct an independent audit of the $54.7 million park project's finances and payments to vendors.
While the audit will explore the many changes in the CMPA's budget, it will focus heavily on the "soft costs," expenses not directly tied to construction materials and labor, such as the costs of engineering, architectural design, legal fees, consultants, financing, advertising and marketing.
Soft costs have become a concern because they are coming in higher than anticipated for a project of this size and scope.
The motion for the audit was made by CMPA board member Larry B. Johnson, who had asked for such an audit at a previous meeting.
Johnson said some citizens have questioned him about park costs since a Sunday article in the News Journal that detailed $23.8 million in expenditures to 117 vendors.
"To try and restore some of the public's trust in this project, I feel a more complete audit is warranted," Johnson said. "I want to know where every penny has been spent and who authorized every transaction. I want a more complete accounting of that to get a better comfort level for where this money has been spent."
The board voted 9-3 for the accounting firm Saltmarsh Cleaveland & Gund to be hired at a cost not to exceed $18,000 to do the audit. The work is to be done within 30 days, according to the motion.
Board members voting in favor of the audit were Brian Spencer, Dick Baker, Samuel Bolden, Audra Carter, Collier Merrill, Megan Pratt, Jim Reeves, Jim Smith and Johnson. Board members opposed were Jimmy Jones, John Merting and E.C. "Buddy" McCormick Jr. Members LuTimothy May and Juanita Scott were absent.
The intent of the audit is to drill into the details of the payments to, and work performed by, every vendor paid more than $10,000 on the project through Aug. 26, covering hard and soft costs.
It will document the history of CMPA construction budget activity from the project's inception through Aug. 26.
The audit also will:
» Examine the amount of each transaction to each vendor.
» Identify any subcontractors used by the vendor.
» Identify who approved each transaction.
» Document that individual's authority to approve the transaction.
McCormick said his concern was that the $18,000 cost of the audit will add to the CMPA's soft costs.
"I voted against that audit because I thought there were enough things in place with (CMPA Executive Director) Ed Spears, and Saltmarsh, and others we have had hired," McCormick said. "I just thought it was a duplication of effort and that we needed to save the money."
Tuesday, August 2, 2011
Luxury RV's called condos on wheels | al.com
Luxury RV's called condos on wheels al.com: "Luxury RV's called condos on wheels"
Originally Published by the Mobile Press Register By Kathy Jumper
GULF SHORES, Ala. - People are coming back to the beach, and a lot of them are driving high-end recreational vehicles.
Six RV lots have sold in Bella Terra of Gulf Shores in the past two months, prompting developers to put the remaining 65 lots up for sale, according to Chuck Smith, a partner in the development off Baldwin County 12. So far, 110 potential buyers have signed up to buy one of the lots, Smith said. Lot prices range from $120,000 to $170,000 for lakefront sites.
Bella Terra and another local development, Heritage Motor Coach Resort and Marina, cater to the Class A motor coaches, which typically cost between $600,000 to $2 million.
The resorts and parks that serve them sell campsites and rent them out when the owners are traveling.
RV lovers may own a million-dollar coach, but they parked the condominium on wheels when the economy slowed and prices at the gas pumps increased, RV sales agents said. Still, sales and rentals were going well last year until the BP oil spill hit in April and "everybody vanished," Smith said.
But in the last 60 days, sales and interest have increased tremendously, he said.
"People are coming back to the Gulf," agreed Jim Howard, resort director at Heritage, on Bayou St. John in Orange Beach. "We had an awesome June. We sold 10 resort sites. We have now sold 46 of the 79 sites."
Heritage sites start at $165,000. A waterfront site with a coach house or guest house can be as high as $409,000. That park includes a private, 42-slip marina.
Owning a half-a million dollar RV is a lifestyle choice, Smith said. "Most of the owners are retired and generally have the means to invest in something they want. They love the resort. It's a place they can call home when they're not on the road."
The final phase of 65 lots in 175-lot Bella Terra will be sold on a first-come, first-served basis, he said.
"Many, if not most on the list, have stayed at Bella Terra or heard of us."
Howard said RV owners are seeing that if they don't do something now, the lots won't be there later.
"A lot of our clients come in and rent for a week and get addicted to the place and decide to buy a site," Howard said.
Related topics: Bella Terra, Heritage, real estate, RVs
Originally Published by the Mobile Press Register By Kathy Jumper
GULF SHORES, Ala. - People are coming back to the beach, and a lot of them are driving high-end recreational vehicles.
Six RV lots have sold in Bella Terra of Gulf Shores in the past two months, prompting developers to put the remaining 65 lots up for sale, according to Chuck Smith, a partner in the development off Baldwin County 12. So far, 110 potential buyers have signed up to buy one of the lots, Smith said. Lot prices range from $120,000 to $170,000 for lakefront sites.
Bella Terra and another local development, Heritage Motor Coach Resort and Marina, cater to the Class A motor coaches, which typically cost between $600,000 to $2 million.
The resorts and parks that serve them sell campsites and rent them out when the owners are traveling.
RV lovers may own a million-dollar coach, but they parked the condominium on wheels when the economy slowed and prices at the gas pumps increased, RV sales agents said. Still, sales and rentals were going well last year until the BP oil spill hit in April and "everybody vanished," Smith said.
But in the last 60 days, sales and interest have increased tremendously, he said.
"People are coming back to the Gulf," agreed Jim Howard, resort director at Heritage, on Bayou St. John in Orange Beach. "We had an awesome June. We sold 10 resort sites. We have now sold 46 of the 79 sites."
Heritage sites start at $165,000. A waterfront site with a coach house or guest house can be as high as $409,000. That park includes a private, 42-slip marina.
Owning a half-a million dollar RV is a lifestyle choice, Smith said. "Most of the owners are retired and generally have the means to invest in something they want. They love the resort. It's a place they can call home when they're not on the road."
The final phase of 65 lots in 175-lot Bella Terra will be sold on a first-come, first-served basis, he said.
"Many, if not most on the list, have stayed at Bella Terra or heard of us."
Howard said RV owners are seeing that if they don't do something now, the lots won't be there later.
"A lot of our clients come in and rent for a week and get addicted to the place and decide to buy a site," Howard said.
Related topics: Bella Terra, Heritage, real estate, RVs
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