West Bay Beach and Golf Club, a Lehman Brothers community, is a 15-year-old private club community located in the non-destination market of Estero, Florida.
This well-established golf and beach community was well known as a single-family country club community. The Cotton Solution focused on repositioning the project as a beach and golf community, with an emphasis on carefree, maintenance-free condominium living. Cotton & Company's sales and marketing program showcased a strong value-driven message and created a surge in absorption in the summer of 2008. Following the Lehman Brothers bankruptcy in September, Cotton reenergized the program, resulting in a 700 percent increase in sales from the previous year.
With limited single-family estate homes and homesites remaining, the primary objective was to sell the existing inventory of more than 200 condominium residences in two high-rise towers overlooking Estero Bay. Amenities include a Pete and PB Dye golf course, private beach club, Cliff Drysdale Tennis Academy, swim and fitness club, clubhouse, boating access to Estero Bay. Due to lower market values and increased competition, the developer is competing directly with many resale properties in the Towers. A new sales strategy focused on creating the "bottom" with no additional negotiation on price.