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Old 01-06-2008, 11:46 AM
 
33 posts, read 141,398 times
Reputation: 36
Interesting...found this on Resort Properties Task Force.... good reading.

By the way....Darren E Zuppardo is begging for money to pay those he F***** in Texas....The funny part is that there is no money and Darren is now F*****. What justice!

Darren, besides being grossly overweight, one thing always stood out about you, the good old saying "I'AM THAT GOOD", you remember saying that?....I do! I remember it like it was yesterday…..your fat a** would walk into the office and slam down deposits checks for Wallace Town and say "I'AM THAT GOOD"....now where do you stand, let me help you by saying "IN COURT". You and Rodney Bell's scam did not work. Again, I will be there to unleash the truth on you and Rodney Bell - this is not over - your world of torture is just beginning and you should prepare yourself and family for years of horror and dismay as the truth will burn through you as your sole will go to Hell. Look for me, I will be wearing the Red Hat.

--Whole Truth
2008-01-06 01:25:54 GMT

I have a unit under contract at Laketown Wharf. I will not be closing for a number of reasons. One reason is that the market is down the other is that Corus Bank has chosen to sponsor Rodney Bell of Gulf Coast Hospitality for the completion/overseeing of things for the Developer not to mention the HOA. I find this extremely concerning giving the circumstances behind Wallace Town USA. As we all are aware, Rodney Bell and Darren Zuppardo concocted an elaborate plan to sale acreage to naive individuals for a profit. They promised everything under the sun except for one thing….the return of your escrow money at the time they walked away from the development. To date there are at least some 55-60 individuals who have not been refunded their deposits. The non-return of deposit has spurred several named lawsuits in LA. If Rodney Bell is anywhere near Laketown Wharf, I and anyone else I know will certainly drop out.
2008-01-06 04:23:24 GMT


I have a unit under contract at Laketown Wharf. I will not be closing for a number of reasons. One reason is that the market is down the other is that Corus Bank has chosen to sponsor Rodney Bell of Gulf Coast Hospitality for the completion/overseeing of things for the Developer not to mention the HOA. I find this extremely concerning giving the circumstances behind Wallace Town USA. As we all are aware, Rodney Bell and Darren Zuppardo concocted an elaborate plan to sale acreage to naive individuals for a profit. They promised everything under the sun except for one thing….the return of your escrow money at the time they walked away from the development. To date there are at least some 55-60 individuals who have not been refunded their deposits. The non-return of deposit has spurred several named lawsuits in LA. If Rodney Bell is anywhere near Laketown Wharf, I and anyone else I know will certainly drop out.
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Old 01-06-2008, 12:09 PM
 
672 posts, read 978,267 times
Reputation: 264
Gave every poster a positive rep point. This is the first thread I've seen where there was no histrionics and information was exchanged.
As someone who has traveled both coasts of Fl, I can add this: it was a statewide phenomena, ah, I mean, insanity.
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Old 01-19-2008, 05:31 PM
 
92 posts, read 271,143 times
Reputation: 31
Quote:
Originally Posted by deckardc View Post
It's very accurate.
I first moved to PCB in 2001 and it was a quaint old school beach resort. It was like traveling back in time to the 1950's. There were very few condo towers. The vast majority of the hotels were no more than 3 stories high and they were the mom 'n pop types of places. You could actually see the beach between the buildings and there were no giant towers to blot out the sun. Driving on Front Beach Rd. was enjoyable. I used to work on the beach in a 2 story office building that was right across the street from Pineapple Willie's. I could see the beach from my office window. They have since torn down the office building and planted the hideous monstrosity that is Laketown Wharf on top of it. Laketown Wharf is an ugly beast that looks like a Soviet era apartment block. From what I understand it is mostly vacant. So basically they ruined a once enjoyable area for no reason.

The article didn't exaggerate. I live over in Fort Walton Beach now but I go over to PCB fairly often. Two years ago they were tearing down the mom 'n pop places and there was nothing but cranes as far as the eye could see. It was like a forest of cranes and there was a lot of construction noise. When I was over there last month, there was almost no construction going on, the cranes were gone, and there were a lot of condo towers with very few cars in their lots and even fewer lights on at night.

I'm not completely opposed to progress but over there, as in other parts of the state, the development was gratuitous and poorly planned. Traffic in PCB is already terrible in the high season and they wantonly added thousands of new condo units without any major changes to the beach roads or other improvements to the infrastructure. At this point, it is probably a good thing that there aren't that many people there yet or it would be a nightmare. The worst part is that the buildings now almost completely block the view of the beach from Front Beach Rd. and they blot out the sun. What was once a warm, sunny drive is almost now entirely in the shade. The only benefit I can see to the giant wall of condos is that they will make a nice wind break for the rest of the island during a hurricane.

What's happening in PCB is happening all over FL, especially where speculators snapped up condos pre-construction anticipating a huge payday when they flipped them. They can't flip them and they can't afford them so they are trying to back out of contracts, walking away from large deposits, or allowing them to go into foreclosure. There is no shortage of vacant condos in this state and many planned condo projects are being abandoned and the lots are for sale. It will be even worse next year when the units still under construction are added to the inventory. The only way they will solve the problem is to drastically lower the prices in order to compensate for the increases in taxes and homeowner's insurance.
I would like to ask a question, and maybe you know. When developers want to add a new construction, are impact studies done? Such as traffic, and water, and such? Are the costs then paid by the developers?

I know this is done in some of the places I have lived, and wondered if this is mandatory in Florida. It did not sound like it from what you told us about Panama City.

Thank you for any info.
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Old 01-19-2008, 06:30 PM
 
Location: NEPA
915 posts, read 2,050,364 times
Reputation: 371
Call me dumb !! I am in PCB renting, I have to leave my unit, in one of the new
mega-structures because the owner is letting it foreclose. NOW, why won't one of these other condo owners in trouble -- rent a unit to me cheaper than their
original offer ??? These units are emply but, the owners are still holding out for the big bucks. I would rather take $1000. a month than nothing.
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