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Back Beach Road is booming. Forget the economic models and housing forecasts that say Florida real estate is in a funk. The 21-mile corridor from the Hathaway Bridge flyover to Lake Powell is churning with workers and construction gear. The sand is flying as developers clear-cut pine growth along the highway — also known as U.S. 98 and Panama City Beach Parkway — to level the building sites, scour out drainage ponds, pour concrete and frame buildings.
"This whole side of the bridge is turning into a real city," said longtime Beach developer Roddie Bailey, who is developing Ibis Lake, a mixed-use community of 300 condominiums, 53 residential lots and commercial outlets on 32 acres a mile west of State 79. "It's not a matter of if — but when."
While longtime residents say the growth along the U.S. 98 corridor has been relatively stable over the past two decades, the end of an 18-month slowdown in the housing market and the spring construction season have sparked what clea...
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