Real estate market downturns create opportunities, and one in particular is stirring some debate among Kiawah Island property owners. Landowners in the upscale resort destination are weighing whether their community association should buy a 15-acre parcel owned by Kiawah Development Partners, the master developer of the island's residential areas. The association has the marshfront land under contract for $13 million. The company began clearing the land for 16 homes but has since sought other opportunities. The purchase is tempting, given the parcel's large size and central location. It is just beyond the second gate, near the intersection of Kiawah Island Parkway and Governor's Drive. The land is being eyed as a potential site for an amenities center. The island, which is two-thirds of the way built out, will likely need more amenities before the final homes are completed. "If we don't set aside this land for them, we won't have any options," said Russ Crane, second vice chairman of the association board. But some residents are questioning how great an opportunity it really is. Longtime resident Charles Beck, who has a background in commercial real estate and appraising large land tracts, estimates the parcel is overpriced by about $3 million. And given the turmoil in the financial markets, he noted that some of his neighbors are naturally reluctant to take on an extra $400 annual payment. "People out there (are looking at their) portfolios today and saying, 'Why do I want to sign up for more debt?' " Beck said. Other residents have raised questions about spending such a large amount of money on land that doesn't have specific development plans in place. Association board members have been pushing for the purchase, which seems to have added some tension to the debate. Buddy Darby, the head of Kiawah Development Partners, sits on the board, though he has recused himself from the issue, Crane said. Crane noted that Kiawah's long-term strategic plan calls for land acquisitions precisely like this one. "This is an implementation of our strategic plan, and if it not supported, then to me the message is 'Don't be strategic, live within your means and don't borrow money,' and I don't think that's what the people want," he said. Property owners have until Dec. 18 to cast their vote.

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