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.
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