As an appraisal geek, it is my job to notice survey stakes everywhere I go. It drives my wife crazy, but I can’t help it. I noticed lots of new survey stakes on Hilton Head Island today, and apparently the oceanfront Holiday Inn sold three days ago (according to the bartender there.)

Michael Dodds, MAI, CCIM

A Hilton Head Island panel unanimously endorsed drawings Tuesday for a redesigned Mall at Shelter Cove that would include a “village” of small, single-story shops and cafes leading to Broad Creek.

Developer Blanchard & Calhoun provided the public with its first glimpse of drawings depicting the new mall, which will replace the existing enclosed mall. “The architectural character will have a Lowcountry village quality,” said Mark Baker of Wood + Partners Inc., an island landscape-architecture firm working with Blanchard & Calhoun on the project.

The town’s Design Review Board voted 5-0 to endorse the plans. Final approval is expected in January, pending a more detailed review of landscaping, lighting, floor and site-development plans, according to town urban designer Jennifer Ray.

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From our friends at Foundation Realty -

Headline numbers can often mask important variations across different areas and property types, rendering segment-specific statistics that much more important. For the 12-month period spanning May 2011 through April 2012, Pending Sales in the Hilton Head region were up 15.4 percent overall. The price range with the largest gain in sales was the $100,001 to $225,000 range, where they increased 26.4 percent.

The overall Median Sales Price was down 2.0 percent to $229,200. The property type with the smallest price decline was the Condo segment, where prices decreased 2.4 percent to $145,000. The price range that tended to sell the quickest was the $100,000 and Below range at 98 days; the price range that tended to sell the slowest was the $650,001 and Above range at 220 days.

Market-wide, inventory levels were down 16.7 percent. The property type that lost the least inventory was the Single-Family segment, where it decreased 16.6 percent. That amounts to 10.3 months supply for Single-Family homes and 11.4 months supply for Condos.

It might be the offseason for tourists on Hilton Head Island, but Bluewater Marine and Resort by Skull Creek is anything but quiet.

Despite the chilly temperatures, a team of laborers is rushing to complete a five-story, 28-unit structure in time to accommodate some of next summer’s visitors. The ongoing construction is emblematic, its developer says, of a local time-share industry making a slow but steady recovery from the recession.

“We’re seeing a bit of a comeback,” said Charlie Halterman, the construction manager at Bluewater. “Of course, we anticipated it happening last year, too.”

Halterman’s project is ambitious. The building is just the second of seven planned structures on 18 acres off of Squire Pope Road that will eventually offer 213 time share and rental units.

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Getting a permit from the Town of Hilton Head Island for new commercial development can be a daunting process — one in which clients often discover hurdles that cause delays, a local land-planner says.

Todd Theodore of landscape architectural firm Wood + Partners and others hope changes the town is making to streamline the permitting process will make redevelopment easier, faster and more predictable.

“Hilton Head is an aging community, and there are lots of opportunities to reinvest in a lot of areas,” Theodore said. “Anything the town can do to make that investment easier is good for the community.”

Town staff has worked for six months to simplify commercial permitting after gathering input from more than 60 people, including architects, land planners, attorneys and developers. Planning commissioner Terry Ennis and Palmetto Hall resident Robert Gentzler, who have worked together as consultants to help businesses simplify their operations, were also involved.

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The Mall at Shelter Cove on Hilton Head Island has a new owner with a new plan to try to revitalize the languishing shopping center.

A real estate affiliate of The Kroger Co. purchased the 42-acre property and 300,000-square-foot mall Aug. 10 for about $17.3 million, almost $7 million below its assessed market value, according to online Beaufort County property records. The company and a developer have discussed plans to tear down much of the mall and add a grocery story and apartments, according to a town official.

“The Mall at Shelter Cove is the perfect location for Kroger’s first store on Hilton Head Island due to its centralized location and ease of access from anywhere on the island,” said Glynn Jenkins, director of communications for Kroger’s Atlanta Division, which includes South Carolina. “We look forward to bringing to life this property’s full potential in a manner that serves residents and visitors.”

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Real Capital Analytics is reporting that the Mall at Shelter Cove, at 24 Shelter Cove Lane on Hilton Head Island sold earlier this month. The mall contains 256,187 square feet, with tenants including Saks Fifth Avenue, Belks, GAP, Ann Taylor and Talbot’s. Built in 1988, the mall is reportedly 87% occupied.

The sales price was approximately $22.5 million ($88 per sf) and the buyer was Blanchard and Calhoun. Cap rate information was not provided.