Hammock Beach Condos Ring Up Weekend Sales of $25M

ORLANDO-Slow economy or not, condominium buyers are plunking down hard cash to reserve $250,000-plus units at the Ginn Co.’s 600-unit Hammock Beach oceanfront community in Palm Coast, FL, 150 miles north of Downtown Orlando. The estimated $120 million venture won’t be completed until year end 2003.

Weekend sales of one-bedroom units to 73 families totaled $25.3 million, bringing year-to-date revenue of $80 million and running up total sales of $320 million to 700 families since the 1,000-acre project was first announced in June 1999.

The condos are being built in identical 10-story towers on the north and south wings of the Hammock Beach Club, the 12-story oceanfront high-rise nearing completion at the center of Hammock Beach.