Preliminary talks have taken place on the development of a medical/retail project next to the Destin Plastic Surgery Center on Furling Drive.
"We will be talking to contractors and getting prices to make sure a project would meet the clients pro forma," said Realtor John Paul Somers, who is involved in the project. "The property owner is interested in aggressively pursuing a new development, but it's my job to make sure we really think this out first."
If the project comes to fruition, it would place the complex, which would share a "synergistic" design with the Destin Plastic Surgery Center and the City Market shopping center, on the north side of U.S. Hwy. 98. The Destin Plastic Surgery Center is also under remodeling.
According to the Okaloosa County Property Appraisers' website, Forty-Four Developments LLC owns a grouping of six smaller lots that could potentially house the project that already boasts a "City Market Bayside" sign.
Records from the Florida Department of State's Division of Corporations website show that Forty-Four Development LLC is a limited liability company that lists Bradley Barousse as its registered agent and local developer Ryan Jumonville as its manager.
Jumonville, who is the CEO of United Networks of America Inc., is no stranger to the Destin development scene. In the past few years, Jumonville has scooped up the City Market shopping center, the Beach Community Bank building, Uptown Corners in Fort Walton Beach, the old First Note Music Hall location and the Destin Diner property.
As the real estate market continues to show signs of improvement, Somers told The Log that development is the "next phase" of the recovery process.
"All of a sudden, developers are looking at the market to conceptualize new developments for growing the economy," he said. "The fundamentals of this market are incredibly positive."
Especially given the amount of cash transactions taking place.
"There is cash fueling this market; people are buying and developing with cash."
There have been no plans submitted to either city or county planners, Somers said. Right now, the potential developers are doing their homework, but Somers said renderings could potentially be drawn up in as soon as 30-60 days.