March 2006

Aqua at Pelican Isle Yacht Club Reports More Than $72 Million in Sales After Only One Month on the Market

By Jennifer Marko

Demand for exclusive lifestyle defies industry trends, developer says -Condominium sales at Aqua at Pelican Isle Yacht Club have been brisk since the community's February launch, and the development team has reported an impressive $72 million in sales to date.

This figure represents the sale of 50 percent of Aqua's first release, the community's north tower, in the short time frame. A total of 48 super luxury condominium residences will make up Aqua's north tower. The south tower is scheduled for release later this year and will house 32 residences, for a total of 80 condominiums in the exclusive community. Residences at Aqua are priced from $1.95 million to more than $6 million.

According to Ed Oelschlaeger, President of EcoGroup, Inc., Aqua's development company, the waterfront community has exceeded sales projections since being introduced to the market. He attributes the rapid sales to the demand for resort-style living, personalized service and an exclusive, intimate atmosphere.

"The lifestyle that Aqua will offer is in demand, despite slower real estate sales across the state," he said. "Aqua will be a unique community where residents will feel like they are on permanent vacation. Discriminating home buyers know what they want, and our sales trend shows that Aqua has it all."

Because of Aqua's prime location on Wiggins Pass, both residential towers will benefit from breathtaking views of the private yacht harbor and the Gulf of Mexico. Purchasers have reserved residences in all locations and floors in the north tower, leaving new buyers with options of penthouses, mid-level residences and coveted first-floor, corner residences with private pools available for purchase.

"There are wonderful homes available on all levels at Aqua," said Jill Rogers, Vice President of The Bentley Sales Group, Aqua's exclusive real estate firm. "The most difficult decision Aqua residents will make is which spectacular view they prefer to wake up to!"

Aqua's residences are 3 and 4 bedroom homes with a study and range from 3,800 square feet to penthouses with more than 6,000 square feet of air conditioned living space. Two of Aqua's penthouses are two-story with private rooftop gardens and soaring 20-foot ceilings. A limited number of guest level cottages and marina cabanas are offered for sale to allow Aqua residents to take advantage of the waterfront paradise.

A private, 29-slip marina, full time resident manager, professional concierge services and an exquisite array of amenities make Aqua an exceptional choice for discerning homebuyers. Other special features include 9th floor rooftop gardens and sky lounges in each residential tower, a private theater, cigar lounge and billiards room. The tranquil spa and fitness center will offer private treatment rooms, along with separate fitness and aerobic rooms and a steam room and sauna. A well-appointed social salon will feature an honor bar, catering kitchen and spacious entertainment area.

Construction of the community is scheduled to begin this summer.