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“We just want to say thank you to the City, County and State for their support of the Tower III project," said Thomas Johnson, president of Calypso Towers III, the city's first condo to rise since the Great Recession. "It is going to be a truly beautiful building with wonderful amenities. As future owners of units in the Tower III, we look forward to seeing the finished product and moving in to enjoy the beach.” Calypso Tower III will be a 22-story condominium with an eight-story parking garage, balcony views, and a connection to Calypso Towers I and II, which were built in 2006. The new development, located at 15900 Front Beach Road, will include 250 executive units, over-sized balconies, upgraded appliances and more. The third tower is the final installment of the Calypso Resort and Towers project, Johnson said. Construction of the tower was halted in 2008 because of the economy, but officials now expect Tower III to be complete in June 2019. A representative from Century 21 Blue Marlin Pelican said Tropic Winds Resort was the last condo to be built on the beach before the recession took effect. By Thursday, a few floors of Calypso III were already in the works, lending a little height to the groundbreaking. “We have already started construction," Johnson said. "In the summer of 2017, we started preparing the job site to jump-start the full scale construction efforts that began in January 2018 and that we see today. In fact, we are pouring the fifth floor now.” Panama City Beach Councilman Phil Chester was among government representatives in attendance to attend the launch party for the structure that has broken the 10-year condo strain.
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