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RESIDENTIAL RESORT COMMUNITY DEFIES REAL ESTATE TRENDS; SEAPOINTE VILLAGE ANNOUNCES NEW CENTRE COURT SECTION

 RESIDENTIAL RESORT COMMUNITY DEFIES REAL ESTATE TRENDS;
 SEAPOINTE VILLAGE ANNOUNCES NEW CENTRE COURT SECTION
 DIAMOND BEACH, N.J., Aug. 10 /PRNewswire/ -- In spite of recent declines in the U.S. real estate market, one oceanfront, Caribbean-style residential resort community has been on an upswing.
 Seapointe Village, a second-home vacation community being developed by Morey Development Company, is located on Diamond Beach, ideally situated between Wildwood Crest and historic Cape May, N.J. Construction on Seapointe Village began in 1986, and since then, more than 300 families have become homeowners in this popular community.
 "In a time when residential construction is virtually at a standstill and other construction is down, Seapointe Village is bucking the trend," said Will Morey Jr., executive vice president of the Morey Development Company. "Demand at Seapointe is spurring us to look toward the future and continue construction. All of our North and South Midrises, Garden Residence and Townhomes are completely sold-out. The demand on our Single Family Homes is also strong -- of the 20 lots we began with, 13 have been sold and 10 homes have been built. The most recent addition to Seapointe, our last oceanfront midrise, the Pinnacle Residences, is an unbelievable 75 percent sold and the building is just now being completed. Plans for our next major phase of development, The Centre Court Residences, are in full swing."
 Comprised of 72 homes with six different models to choose from, The Centre Court Residences are already proving to be an exceptional value in this established oceanfront community. Just a few weeks since opening pre-construction pricing, interest in these spectacular residences already equals that which was received during the introduction of The Pinnacle Residences. As of July 29, only a few weeks since the introduction of pre-construction prices, nearly 20 percent of the building has been sold. Model names of the six types are, St. Martin, Nevis, St. Kitt, Cancun, Nassau and Cozumel. Sizes ranges from one bedroom to one bedroom/den, to two bedroom and two bedroom/den. Pre-construction prices range from $99,900 to $189,000.
 The Centre Court Residences will offer the most dramatic and unique pool plaza yet built at Seapointe Village. The plaza will be built in three tiers and will provide for three interconnected pools. This will all be set into a lushly landscaped plaza complete with private lounge areas and a spa.
 Located on nearly 600 feet of privately owned beach, Seapointe Village boasts such amenities and services as a full-time activities director, supervised kid's clubs, pools, tennis courts, boccie ball, basketball court, private trolley service, a concierge, special golf memberships, bike rentals and much more.
 To obtain information on The Centre Court Residences or to inquire about remaining Pinnacle Residences, contact the Information Center at 609-729-7100 or 800-937-6468. Summer vacation reservations can still be obtained through Seapointe Village Realty Company.
 /delval/
 -0- 8/10/92
 /Editors: Color renderings are available by request from contact./
 /CONTACT: Kim Middlekauff of Seapointe Vilage, 609-729-7100, or Linda Pollock or Jo Elynn Cook of Anne Klein & Associates, 609-778-0380, for Seapointe Village/ CO: Seapointe Village; Morey Development Company ST: New Jersey IN: CST SU:


MK-MJ -- PH020 -- 8634 08/10/92 15:54 EDT
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Publication:PR Newswire
Date:Aug 10, 1992
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