Lake Magazine Editor Katie Cole wrote the article and Kenneth Boone supplied the pictures, as expected.
It is a really nice article, mainly covering the genesis of Water’s Edge at Lake Martin. Water’s Edge was called Eagle Point by the original developer, who put in the road, the lots, the private septic system, and some landscaping. But the only home construction was one spec home and two slabs. Aliant Bank foreclosed on the entire development, except for the spec home. They were left with over 2,000 feet of undeveloped shoreline, a Lake Martin rarity.
They also had two slabs of concrete – foundations for planned homes. I was really honored to be brought in on the early planning stages with Aliant Bank, along with architect Bryan Jones and builder Wade Wilmeth. After looking at the project as a whole, it was evident that today’s market would be unlikely to produce a developer, investor or speculator to buy the whole shebang at once. As rare as it is to have this much undeveloped shoreline on Lake Martin, and in a popular, big water view area to boot, we just didn’t see it happening very soon. The foundation slabs had sat dormant for almost two years.
The decision was made to go ahead and finish and sell the two homes, to get some momentum going for the lot sales. The problem was that the slabs were designed for larger homes that frankly would not sell in today’s market. Enter Bryan Jones. Bryan had the tough job of coming up with a smaller design that would sell at a more modest price point – only 1/2 of the original developer’s plans. Bryan hit a home run – the homes at Water’s Edge take advantage of the huge view, overcome the hill slope with layout, and incorporate cool “lakey” design features that let you know it was thought of as a lake home.
That is how Water’s Edge comes to offer a seeming paradox – two homes that are technically foreclosures, since a bank owns them. But they are brand spanking new – designed and built from the slab up. Many times when I show foreclosed waterfront Lake Martin homes, the buyers are a but turned off by the condition of them. Many of them need more than TLC, they need TNT. Not so at Water’s Edge. Nice and shiney. Scrubby dubby. Wade went above and beyond the call of duty on the building side, using his Lake Martin home construction experience to add in quality and finish.
In celebration of the completion of the homes, we have dropped the price of Lot 1 to $549,000 and Lot 2 to $529,000. Both homes have 3 bedrooms and 3.5 baths. The only difference is that Lot 1 has about 700 +/- more square feet in an 75% finished top floor that could be a huge bedroom.
If you are interested in the more than 2,000 linear feet of undeveloped, prime Lake Martin waterfront, please also give me a call at 334 221 5862. Most of the rest of Lake Martin is owned by Russell Lands or Alabama Power. It is extremely rare to see this much contiguous land for sale, much less on such a popular area, with huge, huge views. We have already drawn up several possible development ideas, so we can help you run feasibility studies quickly and for little or no cost.
Much of the undeveloped land at Water’s Edge consists of a tree covered peninsula that looks for miles over Big Kowaliga section of Lake Martin. This part of the development has not had a seawall of any kind for many years. Naturally, a lot of land was lost by erosion. Local concrete contractor Henderson & Coker has been hired to fix it. It will be the longest wall, on the biggest water, that I have ever witnessed. Maybe they have done longer, bigger walls over in the Ridge, but I wasn’t around to watch.
Friday I went down and taped some footage of them pouring the footings. I plan to tape each phase of the wall’s construction, should make for some cool footage. Stay tuned!
Also, don’t miss these other really cool article from Lake Magazine’s December issue:
How to Choose a Boat – folks who know me know that I am saving up to buy a Sea Ray Sundeck. I think I have made my mind up on the selection, but this article really got me thinking..
Smith Mountain Tower – this is a huge opportunity to help the Lake Martin community, become a part of restoring a landmark!