What was at one time riddled with controversy and held back by a cloud of uncertainty now has, what it would seem, a new and happy re-beginning. Laketown Wharf, what was once dubbed Condo Canyon by its creator unaware of its negative connotations, is open for business and has 300 fresh new rentals available for rent to families who are traveling to Panama City Beach.
A breif summary:
Laketown Wharf was a victim of timing. They pre-sold, they started building, the market tanked, very few actually closed. With over 700 total condos, less than 50 condos fell into the hands of individual owners. This threw the developer right in the middle of a very nasty spot, and the bank took the development over.
Fast-forward to today:
Sterling Resorts has been brought in by the bank to manage the hospitality side of the operation as the bank has smartly furnished 300 condos and made ready to rent to vacationers. Sterling Resorts is known for managing (and being a part in the development of many) local resorts such as Sterling Breeze, Sterling Reef, Sterling Beach, Splash, and Reflections at Bay Point. Having personally toured Sterling Beach, I’m well aware of their operation and excellent reputation for having some of the nicest properties around.
The furniture packages that were placed in the 300 condos were provided by Palette-Coastal and include many of the same furnishings used in Sterling Breeze. I can’t attest to how it lives up to the kids, but I can say it looks fantastic. From most of the condos, you have Gulf-views with plenty of space on the interior walkways to step outside and enjoy the view of the lake. At night, the water show in synced with music and beautifully colored lights.
Laketown Wharf, despite all of the criticism (including me) is actually pretty cool. With tons of amenities and a healthy supply of commercial space, the potential here can result in one of the best resorts in Panama City Beach.
- Five resort-style pools:
- Zero-edge family pool, main level
- Lagoon Pool on main level
- Rooftop seasonally heated pool & spa with spectacular views of the Gulf of Mexico, 10th floor
- Large island pool on the lake
- Kiddy interactive aqua play pool with delightful views of the beach, 4th floor
- Steps away from the white sandy beaches of the Gulf of Mexico
- Pristine freshwater lake
- Over 52,000 sq. ft. lakefront boardwalk
- Spectacular dancing-style lake fountains
- Children’s playground overlooking the lake
- Seasonal children’s activities
- Fitness center
- Meditation garden, 3rd floor
- Port-a-corchere covered entry with stylish Welcome Center
- Two covered multi-level parking garages
- Convenience of nearby shopping, restaurants and attractions
- Community management/security company on-site 24 hours
- Complimentary guest parking
Be watching SeePCB.com for a full list and write up on this resort that will include a feature video on SeePCB TV later this summer.
4 thoughts on “Now Renting: Laketown Wharf”
Are they also selling units? If you look 10 years out this may be a decent buy.
Oh, here’s good news for those trying to rent-out vacation property in the area: 300 more units to compete with. As to “steps away from the beach” I assume that is in reference to the public access points to the east and through that area of detached homes- not too convenient. Wonder how the condo fees are being allocated to rental units, vacant units, and the very few “owned” units?
The pictures look great, but the real views of Walmart, busy streets, large developments between Lakeside and the beach don’t show the real picture of this development. I hope this works, but people will be “fooled” into thinking they have a beachside unit when they actually don’t. I don’t see much repeat visit potential even though this is a nice development. Also, any beach access will be difficult. Wish them luck, but glad I am not an owner.
Sterling Breeze, LLC lost a $219,000 judgment and won’t pay. They transfered the last 46 Sterling Breeze condos to their ‘money’ partner. Now they can collect rent (along with Sterling Resorts collecting their cut) and keep the money from their creditors. They also listed some of the condos for almost double what they ‘paid’. Check out these guys at http://www.baycoclerk.com