Unless you have been hiding under a giant oyster shell, you have probably heard about Cannonsgate, the large subdivision on the shores of Bogue Sound between Morehead City and Cape Carteret.
Cannonsgate has been in the news because of some foreclosures and some unhappy owners. While the newspapers can try to make a story out of it, there really is not much to tell.
Unlike many subdivisions where the developers fled before finishing their ammenities, Cannonsgate is completely finished and the amenities are world class. Also all of the lots have been sold at Cannonsgate, and the home owners' association is doing a great job of making sure the subdivision looks great.
The biggest problem with Cannonsgate is that few of the people who bought lots had any intention of building homes. They planned to sell the lots for a quick profit and move on to another subdivision. Unfortunately the real estate market did not cooperate, and very few lots have ended up in the hands of people wanting to build homes.
Only one home has been built in Cannonsgate, but that is better than many subdivisions which have no homes.
Today the Carteret Chamber of Commerce, Bluewater GMAC Real Estate, and a number of other area businesses welcomed the official opening of Cannonsgate.
An exceptional crowd turned out to see the spectacular clubhouse at Cannonsgate and enjoy some fantastic food from Class Act Catering.
Cannonsgate is an exceptional development built around the concept of creating a Charleston style community in one of the prettiest spots along Bogue Sound. The marina and access to the Intracoastal Waterway might never be equaled in Carteret County.
In five years or so, we will see who was right the investors or the media. My bet is that Cannonsgate will turn into a very interesting development. It is a gorgeous location.
Here are some photos taken over the last twenty months at Cannonsgate.
January 2008 Pictures