Currently, the resort includes 365 attached and single-family homes, the 93-room Boardwalk Inn, two 18-hole golf courses, a large tennis center and 6,700 sf of retail and restaurant space, as well as 2.5 miles of beachfront. The eight-acre expansion, called the Village, will add 254 condominium units and 20,000 sf of retail in several mid-rise residential-over-retail buildings with underground parking. In addition, adjacent to the Village, will be a 10,000-sf conference center.

The conference center is already under construction and will be complete next fall. The first phase of the Village--115 condominium units and about half the retail--will be complete in summer 2007. The remainder of the development will be complete one year later. A company source tells GlobeSt.com that the dollar figure attached to the project is the total development cost as opposed to its value upon completion.

Lowe Destination Development and Wild Dunes manager Destination Hotels & Resorts are subsidiaries of Englewood, CO-based Lowe Enterprises. Through Lowe Destination Development, Lowe is currently developing some $2 billion of hospitality properties nationwide, notably the 1,040-acre Grizzly Ranch in Portola, CA; the 700-acre Stone Eagle Golf Club in Palm Desert, CA; and the 6,000-acre Suncadia project near Roslyn, WA.