Released on: July 29, 2008, 9:07 am

Press Release Author: Frances Sullivan

Industry: Real Estate

Press Release Summary: Turn-Key Waterfront Luxury Condo Project For Sale In Alabama- Purchase price includes the land with infrastructure, the newly constructed first building of six units, swimming pool, open air pavilion, boat dock, and all the approved plans and blueprints.

Press Release Body: A partially developed condo project located on a prime piece of property on Alabama\'s Smith Lake is up for sale by the development partners. The more than 13 acre parcel planned unit development, named Lakewoods on Rock Creek, is approved for 36 luxury condominiums with boat slips. The first building of six units has recently been completed.

Purchase price includes the land, the newly built first lodge-style building of six units, swimming pool, open air pavilion, boat dock, and all the approved plans and blueprints. Development plans call for five additional buildings and boat docks and several off-water cabins. All utilities and paved road are put in place and all permits and easements have been obtained. The property has about 1525 feet of shoreline.

One of the partners in the project said that they decided to \"test the market\" after being approached by overseas investors looking to capitalize on the euro\'s strength versus the dollar. \"We\'re here to sell condominiums, but we\'ll sell to individual owners or we\'ll sell to bulk investors.\"

Since they started construction, the developers have focused on marketing units to individual buyers. But, last week, they decided to market the project to investors, who would buy out the partners. \"This location cannot be duplicated and the hard work has been done. It\'s turn-key, a great investment,\" said the developer.

While no asking price has been set, the land and the partially constructed project could sell for as much as $5 million, according to one estimate.

Photos of the project, floorplans, and renderings can be viewed on the project\'s website, www.lakewoodsonrockcreek.com. For more information, call 205.541.0740.

Web Site: http://www.lakewoodsonrockcreek.com

Contact Details: John Mayhall
205-541-0740
Fax: 205-871-4642
waterfieldjm3@bellsouth.net