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Upscale Port Orange Condo Complex Nears Completion
Daytona Beach News Journal Article from 5/4/09
By BOB KOSLOW
Staff Writer
PORT ORANGE -- Despite a depressed real estate market and an economic recession, a small, luxury, riverfront condominium complex here is close to offering units for sale or rent.
Clark Properties is putting the finishing touches on eight three-story units of the Portofino Cove Townhomes at the southwest corner of Riverside Drive and Katherine Street. A model/sales office should be ready within a month, company president Andy Clark said.
"It may be premature with the economy the way it is, but we have been working on this for a couple of years and we hope the market turns around soon," Clark said. "We have owned the property a long time, and this is the highest and best use of the land."
Port Orange rezoned the 1.65-acre residential corner on the west side of Riverside Drive in mid-2006 for commercial use. The two lots along the Halifax River, a mile south of the Dunlawton Avenue Bridge, were the site of three houses that could not be saved, he said.
Now at 5090 Riverside Drive, there are eight Mediterranean-style condominiums, side-by-side, divided in two rows along a central courtyard with a swimming pool. Each unit has a view of the river from balconies and decks while the eastern two end units also have windows facing the river.
Each unit has two bedrooms and a den on the ground floor with access under a covered patio to the common courtyard and pool. Entry is between the ground and second floor, and features a two-story living room along with dining and kitchen areas, and a balcony overlooking the courtyard. The master suite is on the top floor.
The four middle units also have elevators.
Three floor plans have between 2,704 to 2,785 square feet. Sale prices start in the low $700,000s with monthly rent in the low $3,000s. Clark estimated a $400-a-month condo association fee.
Units include a two-car detached garage and use of two river docks with boat slips.
The condos are another element of a Clark Properties development between U.S. 1 and Riverside Drive in the Allandale neighborhood. The complex includes a three-story, 40,000-square-foot office building, a seven-unit office/retail strip center, wedding chapel and a 1920s home renovated into a banquet/reception facility. The development abuts the riverfront home of Clark's parents
Another Clark-owned site at Katherine and Palmetto streets is vacant, but could be home to a smaller version of Portofino if sales are good, Clark said.
bob.koslow@news-jrnl.com
