PrimRose Beach, a planned TND in
ROBERT STEUTEVILLE JAN. 1, 2001
PrimRose Beach, a planned TND in Currituck County, North Carolina hit a snag in October, when the owner of the 80-acre property cut ties with developer Scott Shepard, who has struggled for three years to secure financing for the project. Negotiations soured when Shepard’s brokers repeatedly showed up for talks with the landowner without any money on the table. Shepard says the landowner wants a large percentage over and above the appraisal price in cash, as well as ownership of the master plan. Shepard has since found new financing and will continue to pursue the project in the current location. PrimRose Beach’s master plan and preliminary plan has approval from the county, and the project has many private and commercial lot reservations.
