Special offer

More Diamond Beach Condos

By
Real Estate Agent with Jewell Real Estate Agency

I just read in this morning's paper that the Lower Township Planning Board approved another 62  condos for the Grand Resort and Spa project in Diamond Beach.  The first phase includes 125 units selling for $1 million dollars to $4 million dollars.  The new units will be further from the ocean and will be called Grand West.  They will sell for $500,000 to $700,000.  The third phase of the project will include rplacing Pier 6600 Motor Inn.  The entire project is expected to take 10 years.  Lower Township will benefit from approximately $5 million dollars in taxes per year with almost no school children using the Township school system.  Local officials are extremely happy with this news and hope to bring some tax relief to the local people.

Now, I don't know about you, but I've heard that before.  Bring lots of developement and it will reduce our taxes.  I haven't seen that happen yet.  There's always something that the money needs to be used for.  It sounds good for the Press, but we'll just have to wait and see what really happens. 

In the meantime, construction has begun and the first phase is expected to be completed in 18 months.  The project looks beautiful, but having a 12 story building practically at the street seems a bit overwhelming for the area.  The building does step down toward the beach which gives great views for all the units.  There are presently 20 units sold out of the 125 proposed.  Here's to the future and a continued improved real estate market.

Comments (4)

Tom Giansante
The Title Company of Jersey - Wildwood, NJ
I read that article as well.   Wasn't there originally a plan for a resort hotel or something similar on that parcel?   
Jul 24, 2007 01:36 PM
Joyce Jewell
Jewell Real Estate Agency - Wildwood Crest, NJ
GRI, ePRO, ASP, ABR, SFR, RSPS
I was at the several meetings held when they went before the Planning Board.  The scope of the project was much larger with a skywalk connecting the 2 buildings on each side of Atlantic Avenue.  There were  probably close to 100 people during the course of the meetings who spoke out against the project.  Being on the Middle Township Zoning Board, I was very surprised that the project got approved with all the requested variances.  I do think they scaled back their plans on the west side of Atlantic Avenue because of the public comment.   I think a 12 story building at the edge of the street will change the entire feeling of Diamond Beach and I'm not sure it's for the good.  I like all the upscale ideas, but I think it could've been done on a smaller scale.  Of course, with what they paid for the property, it may not have made good financial sense.  I think it will raise all the property values in the area, especially Seapointe Village.
Jul 24, 2007 03:25 PM
Anonymous
Fran

I believe it will raise the values of Seapointe Village as well.  Several Seapointe buildings are currently undergoing major work to maintain the buildings.  Know if you are looking to buy in Seapointe in the near future that the owners have put alot of money into the buildings to get/keep them in new condition.

Want to check out Seapointe Village before you buy to get a feel for it?  Rent a condo or townhome there over the summer or even right before and right after the season.  You can find some rentals by owner here:

http://www.SeapointeVillageVacationRentals.com

or

http://www.SeapointeVillageCondos.com

 

Feb 07, 2008 01:35 PM
#3
Joyce Jewell
Jewell Real Estate Agency - Wildwood Crest, NJ
GRI, ePRO, ASP, ABR, SFR, RSPS
I think the Grand makes Seapointe Village a very good deal in comparison.  It has all the amenities that families want.  No other complex in our area can boast the several pools, tennis, BBQ grills, exercise room, sauna, hot tubs, steam room, plyaground, along with a private beach and the new indoor/outdoor pool.  Seapointe is still the place to be with a family.   It's a great place to buy and if you can't do that, there's a big choice of rental units.
Feb 08, 2008 03:24 AM