A new condominium complex joins the list of new construction projects slated for Old Town.
- story by Lisa Monti
Steve Drown and Jared Riecke are the developers behind 124 Court and other projects on the Mississippi Coast and in Florida, including custom home developments, condo buildings, retail centers and apartments that they have developed and managed beginning in 1985.
The purchase of the Echo property is not yet finalized, but reservations of the units have begun, said Drown, who is handling marketing for the condos. 124 Court Development LLC will oversee the construction, which is expected to begin in August. The $8 million project will take 16 to 18 months to complete.
Drown says the site in downtown near the beach is the project’s best selling point along with its Flood Zone X (minimal risk) rating. “Location, location, location, no doubt,” he said.
The condos will be among the very few in Old Town, where real estate is as scarce as parking places on weekends. 124 Court is next to the municipal parking garage and will have 37 outdoor parking places of its own, plus some indoor parking for golf carts. Each unit has a storage locker on the first floor.
The units will range in size from 547-foot studios to 1,452-square-foot three-bedroom condos. Studios come fully furnished, and units are priced from $235,000 to $650,000 for the penthouse units.
A few of the units have already been reserved. The developers are working on a short-term rental program for 124 Court.
For more information, go to the website.
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