In October 2016 Calypso was added to the no lend list for the banks that finance condos in Panama City Beach. One of the considerations for providing normal condo loans to gulf front condominiums in Panama City Beach is pending litigation. Any litigation banks feel could severely impact a condominium association can cause condominiums to be added to this list. In October of 2016 the bank that buys the majority of the Panama City Beach condo loans on the secondary market added Calypso to this list.
The long overdue road improvement project on Front Beach Road in Panama City Beach, scheduled to begin over a year ago, is now ready to start after delays related to state permitting issues. The delays finally ended in July and the Panama City Beach City Council has agreed to take over control of the segment of road where the project is being completed. The part of road in question goes from 500 feet west of Richard Jackson Boulevard to South Thomas Drive. There are several condominium complexes that will benefit from this road project including: Long Beach Condominium, Twin Palms, Ocean Ritz, Grandview, Marisol, Majestic Beach Resort, and Ocean Villa. The project, a $14.2 million endeavor, was awarded to GAC contractors. The goal of the project is to improve underground utilities in the area while also adding landscaped medians, sidewalks and new transit lanes.