Ocean Springs condo construction resumes after 3 year hiatus - WLOX.com - The News for South Mississippi

Ocean Springs condo construction resumes after 3 year hiatus

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Pictured left to right are developers Jacob Guice, Anna Kral, and Billy Guice. Pictured left to right are developers Jacob Guice, Anna Kral, and Billy Guice.
OCEAN SPRINGS, MS (WLOX) -

At Armond Oaks condominiums in Ocean Springs, foundation slabs are what people who live here have been looking at for three years. Work stopped on the project when the original developer went under during the recession.  

But times have changed, with a new unit is now going up. For the new developers, it makes good business sense. 

"We were able to get these foundations for a very attractive price which allows us to build them at a very attractive price," developer Billy Guice said. "Essentially, the winner is whoever purchases these homes."

All the partners in the venture agree, according to Jacob Guice.  

"If we weren't comfortable with the market, we wouldn't be doing this project," he explained. "If this one is successful, we have a second and a third to do."

For the people who will market these units, confidence is high they will move because of pent up demand. 

"They're going to get a brand new product with upgrades. Comparing that, they could pay the same price or a higher price for older units," Realtor Anna Kral said.

One of major benefits of this new project is for the people who live here and have been looking at slabs for the past three years. That is finally coming to an end, and they couldn't be happier about it. One of those people is Lorna Martin, the first person to move into the complex five years ago.

"We certainly felt that it decreased our value. Now we feel like we'll have the whole compound completed and will certainly increase the look and the value," Martin said. 

There is also value in something the developers really believe in.

"It's a good time for America to start building again," Billy Guice said.

The new units should be finished by Spring 2013. When they are sold or leased, work will begin on the other foundations at the complex. The prices on the 1500 square foot units start at $149,000.

Copyright 2012 WLOX. All rights reserved. 

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