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Panama City Beach Area News and Events
If you're relocating to Bay County in the near future, you'll want to bookmark this page. I update my site daily with news and events , so you're sure to stay plugged in to everything that's going on in your new community. Scroll down to bottom of page for up to the minute news continually updated for readers like you.
Wednesday, May 02, 2007
HBA of Panama City-Bay County Parade of Homes
May 13 - 20, 2007
Panama City, Florida
Wednesday, May 02, 2007
Thunder Beach Spring Rally
Panama City, Florida
May 3 to 6, 2007
General Thunder Beach Rally Info
Panama City Beach Florida is the location for both the Spring and Fall 2007 Thunder Beach rallies and it is a beautiful location with over 25 miles of white sandy beaches on the Gulf of Mexico. So you know, the Thunder Beach Fall Rally will happen September 27 to 30, 2007. This is one of the major Florida bike rallies
Monday, April 16, 2007
Publication:NewsHerald Date:Apr 16, 2007
Development is booming on Back Beach Road
‘Turning into a real city’
By Ed Offley News Herald Writer 747-5079 / eoffley@pcnh.com
PANAMA CITY BEACH
Back Beach Road is booming. Forget the economic models and housing forecasts that say Florida real estate is in a funk. The 21-mile corridor from the Hathaway Bridge flyover to Lake Powell is churning with workers and construction gear. The sand is flying as developers clear-cut pine growth along the highway — also known as U.S. 98 and Panama City Beach Parkway — to level the building sites, scour out drainage ponds, pour concrete and frame buildings.
“This whole side of the bridge is turning into a real city,” said longtime Beach developer Roddie Bailey, who is developing Ibis Lake, a mixed-use community of 300 condominiums, 53 residential lots and commercial outlets on 32 acres a mile west of State 79. “It’s not a matter of if — but when.”
While longtime residents say the growth along the U.S. 98 corridor has been relatively stable over the past two decades, the end of an 18-month slowdown in the housing market and the spring construction season have sparked what clearly appears to be a major surge in building. A survey by The News Herald of ongoing and planned construction projects shows that the parkway, which includes the city and unincorporated Bay County on either end, is transforming from a semi-rural byway to a major residential and commercial corridor, with several major trends apparent.
Housing boom
Nearly 5,000 housing units are either under construction or in various stages of planning from Lake Powell to the bridge flyover. They range in size from Quaker Square Development’s 900-unit planned unit development, slated for a 71-acre tract on the north side of the parkway west of Alf Coleman Road, to an 18-lot subdivision off Kelly Street in the west beaches area. Assuming 2½ residents per unit, that translates into more than 12,500 new residents for the region within the next few years.
Within that housing sector, developers are moving to serve what they say is a projected influx of families and young professionals attracted to the expanding job market on the Beach. Four major deluxe apartment communities are either open or under construction along the corridor, with a total of 1,128 apartments available by year’s end.
One company that identified renters as a vital component of the Beach housing market is Trammell Crow Residential of Orlando, one of the nation’s largest apartment community developers. The firm is building two separate luxury apartment projects with 360 units apiece 10 miles apart on the corridor.
The Alexan Back Beach community, located directly across the parkway from the Hombre Golf Course, is open now, said property manager Deanna Stiers. Tenants enjoy the privacy of a gated community, a swimming pool, fitness center, detached garages and optional boat parking. Monthly rents range from $885 for a one-bedroom unit to $1,215 for a three-bedroom apartment.
Contractors recently began site clearing for the second complex, Alexan Laguna Beach, located just east of 14th Street on the north side of the parkway, said company development partner Ed Wood.
“Independent market studies indicate the market up there is undersupplied,” Wood said. “All the existing apartments are full and I don’t think there are any new luxury apartments.”
The target market, Wood said, is “work-force housing.” That ranges from working professionals to people in the military. The company also has identified support for such housing among the nation’s growing retiree community, he said.
Bank boom
The banking industry has taken strong interest in the boom. Florida and out-of-state financial institutions have more than five dozen planned or under-way construction ventures, and all are racing to become part of the new Beach community. Nine new bank branches are under construction along the parkway, joining another dozen that have gone up in recent years.
Troy Campbell, a senior vice president of Coastal Community Bank, which has opened one branch on the parkway already and has applied for rezoning approval for a corporate headquarters near State 79, said most business leaders have been anticipating the boom for years.
The proliferation of bank branches, he noted, is a strong signal that a sustained period of growth is under way. “Most banks try to enter a market with a great potential to be strong,” he explained. “They tend to come in when the interest comes in but before the residential market gets that strong.”
Commercial, retail boom
Commercial and retail growth also is accompanying the housing surge. In addition to major retailers such as the Lowe’s and Target stores already open in Panama City Beach, a wide cross-section of smaller business offices, specialty stores and retail outlets are planned or under way. These range from a three-story office building that the accounting firm of Carr Riggs Ingram is building just east of Nautilus Street, to several retail malls such as Nautilus Station and one at the Home Depot shopping center. And many of the larger residential communities plan to incorporate specialty retail and commercial sites colocated with the condominium units. For example, the still-unnamed Quaker Square Development project includes plans for more than 240,000 square feet of commercial and retail space in addition to its residential units.
A wide variety of individual commercial projects are taking shape along the corridor, ranging from a Mainstay Suites hotel just at the foot of the Hathaway Bridge flyover to small-scale developments such as the $3 Dollar Car Wash, a proposed Tuffy’s auto repair shop and a profusion of real estate offices.
The Beach Commerce Park, another St. Joe development, has opened a massive Phase II section that will provide sites for dozens of lightindustrial and commercial warehouses north of Back Beach Road. Several major warehouse projects already are under construction or complete, said company spokesman Jerry Ray.
Future growth
Government officials and developers agree there is no foreseen end to the current boom.
Much of that will occur as a result of long-term plans by the St. Joe Co. to develop not only its massive West Bay Sector properties surrounding the planned new international airport, but also in building out its holdings directly along the Back Beach Road right of way.
The Panama City Beach planning department and the St. Joe Co. project the company will develop an additional six major projects totaling 5,300 housing units in the Back Beach corridor over the next decade or so. The largest of these is the planned Breakfast Point tract located north and east of the Home Depot shopping center on Beckrich Road, which anticipates a major residential and mixed-use community of 2,500 homes when complete.
Along with the vast quantity of new housing, business and entertainment projects will come quality as well, developers say.
“We hope to attract more upscale projects,” said Bailey, president of Ibis Lake. “Here, we are building a high-end subdivision within walking distance of the beach.”
Campbell agreed.
“I kind of think Panama City Beach is going to be a bit different than other communities. I’m hoping it doesn’t turn out to be a concrete and brick wall.”
In anticipation of that development, the Bay County School Board and Panama City Beach City Council earlier this year agreed to build a new K-8 public school on the property just east of Arnold High School.
Plans also are proceeding to extend Beckrich Road north of the parkway onto the Breakfast Point property.
In addition, the city is proceeding with plans to “calm” traffic along the parkway with proposed traffic signals near Pier Park and at the Clara Avenue intersection.
“Back Beach Road is going to end up the 23rd Street of Panama City Beach,” Bailey said.
Thursday, April 05, 2007
Panama City Beach – The Next American Boom Town
Panama City Beach, Florida is projected by CNN/Money.com as the #1 Fastest Growth City in the United States. Panama City property prices are still low by Florida’s standards.
Panama City Beach, located directly on the Gulf of Mexico in N.W. Florida, is forecasted to appreciate 21% in 2007 and 72% over the next 5 years! Today, Panama City is undergoing a massive makeover.
The New International Airport http://www.pcbeach.org/airport.shtml
Road Renovation Projects – www.pcbonthemove.com
Jim Fowlers Life In The Wild - http://jimfowlerslifeinthewild.com
Frank Brown Park – http://www.playballinparadise.com
Pier Park – http://www.pierparkretail.com
Simon Property Group, Inc., the developer of Mall of America and other retail developments across the U.S., is investing heavily in Panama City Beach with the development of Pier Park. Pier Park will include approximately 1.1 million square feet of retail space including a 16 screen 3,300 seat movie theater by Southern Theatres (opening in May 2007).
Recent and Upcoming PCB Corporate Investors Include: Dillards, Jimmy Buffet’s Margaritaville, Del Sol, Target Stores, Old Navy, Ulta Cosmetics, Ron Jon Surf Shop , Back Porch Seafood House , Candymaker Candy Stores, Panera Bread Company, Reggae J’s Island Grill, Camille’s Sidewalk Cafe, Starbucks , Longhorn Steak House, Southern Theatres , Ruth’s Chris Steakhouse, Johnny Rockets, Ripley’s Believe it or Not, Calabria’s Italian Grill, Trader Tom’s Shells and Gifts, Bonefish Grill ,Barefoot Beach Club, Carrabba’s Italian Grill (just to name a few)
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