50,000 Residential Units in Panama City Beach

In working on a market study locally, a buddy of mine came across some information on the Panama City Beach Chamber web site (www.pcbeach.org). According to this information, Panama City Beach is expected to have an additional 8,500 residental units open in the next 5 years with an additional 15,000+ to be announced at a later date. 5,800 opened this year including The Shores of Panama, The Towne of Seahaven, Nautilus Cove, Grand Residences by Marriott, and Aqua just to name a few. There were some that I know are on hold for now and of course market conditions will determine what comes online in the future, but still I thought this was very interesting information. There are currently almost 21,000 condos, hotel rooms, and townhouses in Panama City Beach.

Some of the big ones include Breakfast Point at 3,100 total units expected to be open in 2012, Grand Panama with 795 total units, Laketown Wharf with 735 units open this year, Miracles (on the old Miracle Strip Park site) with 700 units open in 2012, and Solimar Resort and Spa with 812 units open in 2010.

New Developments

2 thoughts on “50,000 Residential Units in Panama City Beach

  1. ========================================
    Since you mentioned ‘Nautilus Cove’=
    The actual sale of condos here has taken quite a big dip. There are 168 condos with about 70 sold to date. Only 3 recorded sales so far this year:

    1) 4-14-08 #908 $169,000 D Knight Investments
    2) 4-10-08 #1005 $157,000 to BSJ Property Inc
    3) 3-31-08 #1507 $190,900 to Lynn Owen

    The First condo sold was #105 $184,900 to David Turner 10-18-06

    Now of course the Developer can’t move any worthwhile number of his unsold condos so Pelican Realty is renting out as many as they can. Welcome to Nautilus Cove Apartments!


  2. RE: NCC Management

    Just this year we are in the 4th manager of the complex. Seagrove on the Beach was there when I purchased a year+ ago. Earlier this year it went to Concord Management, six weeks later in an ‘Emergency Board Meeting’ lasting 2 min. Concord was out and Seagrove was back. About 2 months later Seagrove was out again with Concord taking over on July 1 2008.


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