Seaside weathers the real estate storm

Cottages are selling for $1,300 to $1,500 per square foot on the Gulf coast at Seaside, Florida, and for $550 to $750 per square foot in inland portions of Seaside, the Financial Times says in a report on how New Urbanism's best-known resort community has fared in the real estate climate of the past few years.

Those prices are down—from earlier levels of more than $2,000/sf on the Gulf and $850-$1,000/sf inland—but they've fallen somewhat less than those in nearby communities, says reporter Nick Foster. "The asking price for a Gulf-front detached home in Seaside with five en suite bedrooms is $5.2m. Meanwhile, a furnished one-bedroom cottage a block from the beach is offered for $925,000 (both through Seaside Community Realty)," according to the British newspaper.

Foster suggests that the series of nine Gulf-front pavilions, all free for use by everyone, encourage social interaction, give residents a connection to the sea, and thus "boost the value of everyone's property." 

The article also says Celebration, Florida, the Walt Disney Company's large foray into New Urbanism, "has fared only slightly better in the downturn" than more conventional suburban areas nearby.

For more in-depth coverage on Seaside, market trends, and traditional neighborhood development:

• Subscribe to New Urban News to read all of the articles (print+online) on implementation of greener, stronger, cities and towns.

• See the September 2011 issue of New Urban News. Topics: Walk Score, sprawl retrofit, livability grants, Katrina Cottages, how to get a transit village built, parking garages, the shrinking Wal-Mart, Complete Streets legislation, an urban capital fund, and much more.

• Get New Urbanism: Best Practices Guide, packed with more than 800 informative photos, plans, tables, and other illustrations, this book is the best single guide to implementing better cities and towns.

• See the July-August 2011 issue of New Urban News. Downtown makeover, agrarian urbanism, bike sharing, bike-ped issues, TIGER III livability grants, unlocking remnant land value, selling the neighborhood, Landscape Urbanism vs. New Urbanism, new urban resort, granny flats, The Great Reset.