A few comments:
Obviously, the property was clear cut of any indigenous trees and, with the exception of a few baby trees, mostly palms, if any at all, it looks like the property is pretty bare today and will remain so well into the future. Boring... and not environmentally healthy. Surprised St. Johns County doesn't require a decent hardwood tree planted on every lot.
Most of the houses "on the beach" are side-by-side townhomes and this looks to be repeated in some of the other subdivisions. I think some of these townhomes have been listed on Zillow in the range of $1 +/- million. For that, I can live on real water or pretty close to it.
Too bad the Seaside at Beachwalk didn't mimic Seaside on the Panhandle. How hard would it have been to do a copy and paste of something along the lines of that. They probably could have received a much bigger premium for something like that.