About Us
The very reasonable price of the land, the passage of a Community Development District by the City of Carrabelle, and two friends’ vision and commitment to integrity, value and quality…. is the Story. This is the story of two friends, Pinki Jackel and Judy Miller, both real estate developers in Franklin County, from opposite sides of the country, yet with similar sensibilities. This is their dream to create a value-added, affordable, first-class, “green”, “eco-friendly” residential product, to make a difference with social purpose. In Spring 2006, Pinki Jackel, with her unique real estate vantage point in Franklin County as owner of its busiest Title Company, was presented an opportunity to purchase some property, and recognized the potential if well-managed. This wasn’t just any land. This is prime residential real estate in the heart of the laid back quaint community of Carrabelle. These lots were already platted and zoned for residences, meaning a whole lot of time and savings for a developer. Pinki called Judy, and the two of them said at the same time, “affordable luxury”…. They inherently knew the need, and the way to deliver, a crafted, quality, socially responsible home product, at an amazing price. With the very reasonable acquisition price of the platted and zoned lots, a major hurdle to “affordability” was already overcome. The property still needed expensive infrastructure: sewer, water, electricity, roads, sidewalks, street lamps…. at a cost that would take the home prices way out of the “affordable” range. If Pinki and Judy had to pay for all of this, they would have to pass these costs along to the buyers upfront in the purchase prices. That would defeat their purpose. Within a softer real estate market, there is still a dire need in America for “affordable” and “work-force” housing. Many families, retirees, and second homebuyers have been priced out of homeownership. On occasion, private enterprise has teamed up with government to deliver minimal housing, and mostly rental, around the United States. Judy studied the Urban Land Institute’s reports exploring how other developers, few as there are, were getting the job done. She was convinced there was a way, even though the local Franklin County governments weren’t making low-end property available for joint venture. Nothing matched this set of circumstances. The unique idea of asking the City of Carrabelle to pass an ordinance authorizing the formation of a CDD (Community Development District) became a viable possibility (where most of infrastructure costs are passed along to homeowners in low interest Bonds over the next 30-years). After all, there are over 400 of these Districts in Florida for huge developments. Why not establish one in Carrabelle for a small development? Why not for the public purpose of providing home pricing in the affordable range, a tremendous public need in Franklin County as well as throughout America? Without passage, SeaSide Village, economically for the developers, would not have been a possibility. With passage, it was. After a year of working with the City Manager and Mayor, with their invaluable suggestions of the standard of presentation and scrutiny the City Commissioners were expecting, the Ordinance passed in August 2007. With the passage of this Ordinance comes the first time a CDD has been used for creating affordable housing in the United States, another unique way in which government and private enterprise has “teamed up” for the greater good. SeaSide Village represents a FIRST. Pinki and Judy have now set out on their journey to build SeaSide Village. Their goal, do it with great care and attention to detail, create true value, keeping it affordable but luxurious, suitable for a young family, a second home owner, and an active adult. With all that each has learned from their respective life’s vantage points, they’ve had a fantastic time conceiving, planning, and implementing the home designs and community amenities. From the originally purchased 384 “lots”, after storm-water engineering, the creation of walking trails, and eco-friendly nature displays, came 270 buildable home-sites. This includes a block for a beautifully designed Community Center, plaza, pool, and eco-friendly children’s playground, and…. reserved for the 55+ active adult residents, their own private Clubhouse and Pool (card games, yoga, no kids….) Pinki and Judy continue to work on every detail to make the Village accessible, tasteful… a place to call ‘home’. There are no stairs. This is big for Judy who does not “do” stairs! There are extra handicap parking spaces, a kitchen in the Clubhouse for events, a place to park a boat on the side of each home, no flood insurance required construction, consideration of wind and water resistance, lower insurance and energy costs, and environmental benefits at every turn. The list is endless of big and little ways they’ve made the homes and community an amazing value. Pinki and Judy had planned to sponsor and build a regional medical facility next to SeaSide Village in conjunction with a Tallahassee hospital. Even better, it turns out the County just passed a 1-cent sales tax to pay for a medical facility right in Carrabelle, which is now coming soon. This continues to confirm their faith, that SeaSide Village has been blessed from the start, with one good deed and turn of events after another. Ground breaking on the first 6 homes is January 2008. The two friends are having a blast building something of great value and great purpose, and can’t wait to show what can be delivered with a little vision, and a lot of heart! Oh, by the way, per the big-time consultants hired by the Team to successfully take them through the CDD process, surprisingly the concept is now being considered for the first time as a method to create affordable housing for other smaller developments…. with Pinki and Judy as role models! History has been made. |
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