Perico Bay Club – affordable near-Island living
Real estate buyers love new construction and are willing to pay a premium for brand new everything. But, if you're one of those buyers who wants to look a little beyond brand new, you'll be surprised what you find right across the street.
There has been a lot of talk recently about Perico Island, which runs along the Palma Sola
Causeway on the way to Anna Maria Island. The reason for all of the discussion is the new development called Harbour Isle, a Minto community being constructed on the north side of the Causeway. Harbour Isle is offering condos starting at $334,900 and going to $473,900 for their largest 3,000 square foot model. When construction is finished, there will be 686 units on 200 acres.
Also sharing Perico Island on the south side of the Causeway is one of the grand ladies of condominiums, Perico Bay Club. Perico Bay Club was built between 1988 and 1992. It is gated with a guard at the gatehouse and very strict entry regulations. The complex is set on 300 lush acres, has 14 lakes, in addition to inlets, and views of Palma Sola Bay and the Intracoastal Waterway.
The large community boasts 10 swimming pools, four tennis courts, shuffleboard courts and a club house that was recently renovated. Perico Bay Club also has walking paths, beautifully landscaped grounds and is close to Robinson and Neal Preserves.
Perico Bay Club has a variety of housing options and styles among its17 neighborhoods organized into several condo and homeowner associations. There are some traditional condominium buildings, some with very nice bayfront views, some with mangrove and inlet views.
Most of these units are two-bedroom, two-bath, but some have a third bedroom or den. There are no elevators available, therefore, if you're living in one of the upper levels with nice vaulted ceilings, you have to walk the one flight up. Perico Bay Club also has several different villa styles. Many of these villas are on lakes with decks off the glass and/or screened lanais. The villas are two-bedroom, two-baths and three-bedroom, two-baths, some have one-car garages and some have two. Maintenance fees vary based on units and associations.
Currently there are over 40 units on the market in Perico Bay Club ranging from $107,900 to $329,000. In early 2006 when I last reviewed this community, the statistics for sales during the last six months of 2005 were showing selling prices averaging $350,000 and ranging from $280,000 to $520,000.
Obviously, Perico Bay Club has been impacted by the downturn in real estate values during the past five to six years.
Perico Bay Club is a nice alternative to living on Anna Maria Island for buyers who want to be near the water and the Island but are in a lower price range. So don't forget to consider the older as well as the newer; some things do improve with age.