Those were my photos. I won't repeat what Jeff's covered, but Hilton Head Island renourishment is a [u:fa6d157448]good thing[/u:fa6d157448], not a bad thing. It's heralded as a world class operation. One need only speak to the town engineer who headed up the project (I have) or hear how much care and thinking they put into this to realize this is one more reason Hilton Head Island will continue to appreciate in value.
Also, it's funded by the 2% tax collected on all short term stays on the island. So, it's self funding. Hilton Head delayed it's most recent renourishment a year or two because they didn't want to pay exhorbitantly, as the companies that do this type of thing were all busy in Florida and the Gulf coast.
Check out the Town's web site information on the renourishment project:
And also the cool color photos from Hilton Head Monthly at
As far as investing in oceanfront property, the low end of the range mentioned above is only possible at Port Royal Plantation, Forest Beach, and Folly Field. Why are they less? Well in Port Royal, you can't rent out short term, so folks on the ocean lots live there. With no investor cash flow possible, their relative worth is less. Forest Beach and Folly Field are less because they're not in plantations and therefore less resources, amenities, prestige, and oversight. In Palmetto Dunes or Sea Pines Plantations, O/F lots are $5M and up, whether they have tear downs or not. (On HHI, plenty can still be had for less on Daufuskie Island)
As a result, what most often happens is several investors (such as an LLC) will band together, tear down a smaller house, build a multi-story, multi-kitchen, multi-master bedroom house intended to be rented out to multiple families per week. It's what the lot price demands these days.