Hey guys. It’s Alex. I wanted to update you on the Koala Cove project. I asked David to do a post for me to “tag-on” to. He said “Got a subject?” And I said “I would’t mind some Latin eye candy.” So here you have it.
To date, we’ve (Denise has) sold 11 of the 14 villa units. We’re down to the one she and Scott are temporarily living in and two more. The prices have been creeping up, and the last one sold for a bit over a million-six. Obviously these buyers have more money than God!
Nathan has three crews working full time on the project and their work is beyond amazing. Each unit is being crafted like a frikin’ palace. We were originally concerned about the limited number of boat slips available, but it turns out that most of the buyers want to just be at the lake – as opposed to going out on the lake. When we first started the project, Denise said she thought a “community deck” would be nice for the owners to have as a gathering place. So I got with the architects who designed Ty and Damien’s “cabin” and now the deck is almost finished. It’s wonderful. It’s a two story deck with a perfect view of the lake. It’s big (20′ x 42′) and is built on two levels. The upper is a “sun deck” with a partial wood pergola and the lower is enclosed with “Untra view invisible screen.” Each level has plenty of room for tables and occasional furniture and the buyers love it.
The contracts specify that none of the units can be occupied before March 1st, 2021. We did that so we wouldn’t have owners all over the place while the other units are being built. We’ve carefully gone over the numbers and we’re excited that we’ve already sold enough villas to more than break-even. The last three will be pure profit. This is the first project I’ve participated in owning and it’s a good one.
The kids are great. Bella continues to work with us on colors and textures for the units and I swear I think she has a future in graphic design – or decorating – or architecture or something like that. She’s a very talented (and sweet) young lady. Chance isn’t as out-going as his sister but is a Joy. He, Dub and Austin have been reading “Lord of the Flies” and loving it. It’s a tough read for boys their age, and it’s been a struggle, but Ben is helping them work through it. Chance’s hearing continues to develop and he essentially hears just about everything – except, of course for Bella who he tends to “tune out.”
So that’s what’s going on with us here at the Lake. Our little quarantine bubble is very much intact – until this madness ends. xoxo Alex and Cal