KIAWAH ISLAND INVESTMENT MONITOR

DEVELOPMENT

A TASTE OF THE WEST INDIES AT OCEAN OAKS

Developers Michael Bennett and John "Hank" Hofford wanted a little different flavor in the house plans for their development at Ocean Oaks on Kiawah Island. So they told the architect they wanted to offer home designs with a West Indies feel to accompany the 27 lots located just across from the access to the Kiawah Beach Club.

The result was distinctive floor plans, copper roofs, large piazzas and private courtyards to capture the beauty of the oaks and the ocean breezes from where the site derives its name.

Turnkey prices for lots and homes are from just under $780,000 to just over $1 million. Extras can add 10% 20% to the final package. Development began in April '96 and since then about 30% of the sites have been sold. Construction is well underway so they are worth a visit.

Purchasers in Ocean Oaks qualify for membership in The Kiawah Island Club. Kiawah Island Real Estate is the exclusive marketing agent for the developer.

ANDELL UPDATE
Little has been heard about the continued development of the Andell tract. In preparing this issue of the Monitor. We heard an unconfirmed rumor that Kiawah Resort Associates is completing negotiations for about 15 acres of the tract. Announcement of the purchase is pending and the acreage is said to be planned for commercial development.

SUMMER ISLANDS FOR SALE THIS SPRING
Summer Islands is a new offering by Kiawah Island Real Estate with the first twenty homesites expected to be available March 19. Homesites are on islands, depicted on older maps of Kiawah as Three Loons and Cormorant.

With a new name and bridges to reach some of the most remote and private locations at Kiawah, lots are priced from the low $300's to almost $1.7 million.

In the 3Q95 issue we mentioned the permits received for the bridge construction necessary to reach these islands. The Summer Islands sites are accessed via one of those bridges crossing from Falcon Point. (See KIAIM 3Q95)

A big attraction to these homesights, besides their privacy and natural setting, will be the deep water access to Bass Creek. Also, ownership at Summer Islands qualifies purchasers for membership in The Kiawah Island Club.

In 1996, with the sale of $1 million plus lots at Terrapin Island, KRA demonstrated their ability to successfully transfer the million dollar plus beachfront pricing to off beachfront properties with deep water access and rivermarsh views. For more information on Summer Islands call 803-768-3400