By Jim Hicks, LIBPA
The Celadon development on Sams Point Road was one of the victims of the economic downturn and housing crash and ended up as the property of a bank following foreclosure.
Recently a partnership managed by Blue Sky, a real estate firm that invests in developed and partially developed distressed residential properties, purchased Celadon. The company uses its 50 years of development, marketing and sales expertise to acquire assets and reposition them into today’s market. It has reviewed the basic regulating plan for Celadon and requested the Beaufort County Planning Department authorize changing some of the rowhouses and courtyard apartment houses in the original basic plan to villa apartments. These changes were requested to provide increased flexibility in the regulating plan by allowing more traditional neighborhood homes, which are deemed by Blue Sky to be more sellable in today’s market.
Blue Sky is familiar with the Beaufort County market. Blue Sky’s vision for Celadon is a neighborhood that prioritizes wellness and an active community lifestyle. The Celadon Activity Center and Spa will officially reopen the beginning of 2015. More information about the activity center and real estate will be available soon at www.CeladonLiving.com.
