With only 21 of 80 units yet to be reserved in the Gulf Shores Golf Club's condo development project the success of phase one of the club's renovation plan is virtually assured.
The club's condo offering has a lot going for it. The condos are being built in a prime location and they are being offered at very attractive prices - about half the cost per square foot of comparable condo properties on the Gulf Shores beach front.
Do-it-yourself developers
The members of the Gulf Shores Golf Club figured the best way to pay for $5 million in renovations to the 42-year-old golf course was to build condominiums on the course.
And, to do it themselves, according to Palmer Dent, president of the club's board of directors.
So the 280-member group hired an engineering firm, architects and are talking with contractors to build 168 units on the club's 10.7 acres off Clubhouse Drive in downtown Gulf Shores.
So far, 59 of the 80 units in the first phase are reserved, according to Cham Johnston of Realty South in Orange Beach. Forty of those units are reserved by existing club members.
The units will be priced at $300 per square foot, he said. The units will range from 1,100 square feet to 3,300 square feet.
"The condos will be way below the cost of gulf front condos," Johnston said.
A Gulf-front, two-bedroom, two-bath condo unit that is in good condition and in a good location sells for an average $550,000 to $625,000, according to agents. A 1,100-square-foot unit at the golf club would average $330,000.
Construction could start by early fall, depending on pre-sales, according to Dent. Read more