October 23, 2007

Creekstone Companies Announces Upscale Condominium Development in Panama City Beach

Creekstone Companies is bringing nearly 300 townhomes and condominiums to Panama City Beach at Island Reserve.

The Panama City area continues to grow after being named the best market to invest in 2006 by Business 2.0 and Money magazine. A $330 million airport will be completed in 2009 or 2010 that is projected to attract a half million visitors each year. The city's infamous "Miracle Strip" is transforming into a family-friendly avenue with bike trails and parks, and multiple family attractions, shops and restaurants have opened in the past year.

"The market is rebounding here," said Jeanne Carter, a broker and consultant with Creekstone Companies. "Condominium, retail and office projects are under construction, and absorption of new product is up. Prices here are still well below the national average, and with continuing low interest rates, it's a good time to buy."

Creekstone Companies, with offices in Houston, Texas and Baton Rouge, La., was founded by Everett Jackson and Stephen Keller. The company has provided full-service real estate investment, development and management services for 19 years with more than $1 billion in total investments.

Island Reserve will open in spring 2008 and includes a mix of flats and cottage-style townhomes centered around the Panhandle's largest residential swimming pool. The pool holds more than 295 thousand gallons of water and along with the deck area, encompasses more than an acre. A large community center offers an indoor basketball and sports court, a fitness center, a meeting/gathering room, business center, billiard room and media room with a 100-foot theater screen.

Many of the homes have decks and patios that face community courtyards with water features and lush tropical landscaping. The spacious interiors include granite countertops, stainless steel appliances, some wine coolers, travertine and bamboo flooring. Residents can select from one-, two-, and three-bedroom homes priced from $317 thousand.

Island Reserve is located on more than 20 acres of land at 8700 Front Beach Road in Panama City, about 1 mile from the beach. The sales office is open daily with tours of the model home available. For more information, call (850) 249-8771 or visit www.islandreserve.net.