A Beautiful Coastal Community in the Middle of It All

Regatta Bay

Photos By Scott Holstein

As its name suggests, the Regatta Bay community is located in the heart of Destin, nestled along the scenic Choctawhatchee Bay and less than one-half mile from the Gulf of Mexico. This prized, close-knit community is situated on approximately 120 stunning acres filled with 28 peaceful lakes and protected, pristine woodlands and preserves filled with an abundance of wildlife. But nature isn’t all Regatta Bay offers.

Central to this resort-like gated neighborhood community is an 18-hole championship golf course that meanders through nature preserves adjacent to the Choctawhatchee Bay. The course was designed by renowned architect Robert C. Walker, a former lead designer for Arnold Palmer. A par-72 course with 6,894 yards from the back tees, Regatta Bay was named one of Golf Digest’s Top 200 Places to Play in North America. The amenities may have something to do with that. They include GPS on golf carts, chilled apples on the first and 10th tees, mango-scented towels and a full-service clubhouse that includes a golf shop.

But golf is not all Regatta Bay offers. Homeowners here have access to world-class tennis courts, a lushly landscaped community pool and a fun children’s playground. 

At the heart of all social events in Regatta Bay is a beautiful 16,000-square-foot clubhouse with a full-service award-winning restaurant called Rutherford’s 465 that overlooks the immaculate golf course. The restaurant is terrific for lunch and dinner and provides a convenient full-service venue for family reunions, special occasions and holiday parties. 

Regatta Bay is conveniently located near a public beach access, outdoor festival stages and Destin Commons, a large lifestyle retail center that features name brand shops, restaurants, special events and a 14-screen movie theater. With so much to offer, it’s no surprise that Regatta Bay is popular with those seeking primary residences that offer the Florida coastal lifestyle. It is also a solid buy as a vacation or second home investment property. 

For Lindsey Lynch, a Realtor and project manager with Legendary Inc., Regatta Bay is so compelling it even captivates the Realtors who sell it. “I would love to be in Regatta Bay one day with my family. Once you are home, you don’t have to get in your car to golf, swim, play tennis, shop, go to the beach or even catch a movie. You can take a golf cart, because it’s located right in the middle of everything,” she says. 

There are 23 active listings (at press time) in Regatta Bay. Of those, 15 are single-family homes situated on either a lake or golf course, and six are attached golf villa units. The average sale price this past year was $757,767. Regatta Bay sales are strong with buyers paying 93 percent asking price.  

If you want to build, there are eight lots. Last year, non-waterfront lots sold on average for $145,278. Bayfront lots went for $640,000. If you want to have some of the work done for you, Lynch has a unique property. A waterfront lot that comes with completed plans for 11,000 square feet (8,000 heating/cooled) listed as “build to suit.” The price is still being settled, but it will be on the market for around $4 million.

Another rare opportunity is a 2,300-square-foot duplex with a 450-square-foot guesthouse linked by a common courtyard and listed for $584,000. “I’m excited about this home. It is a great home for ‘empty nesters,’” Lynch says. “It has two separate spaces for when the kids come back home to visit. It has all the amenities and it’s right on the golf course, but it has very low maintenance.” These units are so popular, Lynch says the only one she could find as a “comp” sold six years ago in 2008.

Lynch says Regatta Bay is one of the most desirable communities on the coast. “It offers a gated, quiet, family-friendly lifestyle loaded with amenities  — it has all of it.”

All statistics listed below pertain to sales in
March 2014 and are
provided by the Emerald Coast Association of Realtors, Florida Realtor
and the National Association of Realtors.

LOCAL
The Emerald Coast closed 436 single family home sales in March 2014 — 111 of which were paid in cash. 331 were traditional sales, 83 were foreclosures and 22 were short sales.
The median sale price for townhouses and condos was $288,000 — a 28% increase since March 2013.

STATE
On average, Florida’s closed single family home sales received 92.5% of their original list price.
Florida closed 9,580 townhouse and condo sales — 6,796 of which were paid in cash. 7,624 were traditional sales, 1,526 were foreclosures and 430 were short sales.

NATIONAL
The national median existing-home price for all housing types was $198,500 in March, up 7.9% from March 2013.