Tag Archives: new construction

Atlantic Plaza II gets first approvals from Delray Beach

atlantic-plaza-II-Delray BeachDELRAY BEACH — Atlantic Plaza II passed its height and density tests Tuesday but still faces one more hurdle before it can become reality.

Atlantic Plaza II is the $200 million mix of shops, restaurants, condos and office space proposed for nine acres slotted on the north side of East Atlantic Avenue between the Intracoastal Waterway and North Federal Highway. Its developers are vitamin magnate Carl DeSantis and the Edwards Cos. of Columbus, Ohio.

After about three hours of sometimes heated, sometimes unusual debate, Delray Beach city commissioners voted 3-2 to allow the project to exceed the city’s normal maximum building height of 48 feet and normal maximum density of 30 residential units per acre.

The project has attracted strong opposition particularly from residents of nearby neighborhoods who see it as too big for Delray, and out of character with the surroundings. Opponents included a group called the “Raging Grannies” that literally sung their protest to the tune of The Battle Hymn of the Republic. Others used more conventional methods to get their point across.

Resident Steve Blum, president of a homeowners association in the area called the project “bloated.”

“This is a travesty, a crying shame,” Blum said. “We are outraged.”

Proponents, however, cited the need to redevelop the site, now occupied by a rather architecturally undistinguished collection of shops and offices. They also cited the economic potential of the Atlantic II, which includes 80,000 square feet of class A office space, something doesn’t exist in the downtown.

One resident called it “a gift to the city. A private, $200 million development in Delray Beach that will reap benefits for years to come.”

Others urged the city to take a middle course and delay a vote on the project until after the March municipal election when three of the five commission seats are up.

Mayor Woodie McDuffie, who grew up in Delray Beach, recalled the city’s agricultural past, a time when the city was so slow that it was jokingly called Dullray, and its eventual transformation into the vibrant city it now is. Despite its growth, one problem that plagued Delray in McDuffie’s youth it still has today, and that is a lack of good-paying jobs. It has done well in providing jobs for waiters and cooks, evidenced by the restaurants along Atlantic, but not so well in providing jobs for accounts, lawyers, marketer, brokers and other white collar professions.

“It fills a void in the community,” McDuffie said of Atlantic Plaza II. “Either you grow or you die.”

As for delaying the project, McDuffie noted that the project has been on the drawing boards since he joined the city commission in 2007.

Jeff Edwards of the Edwards Cos. presented a list of changes the developers made in the plans to lessen the impact of the project on the area, many having to do with efforts to reduce traffic.

As originally proposed, the project had 50 residential units per acre, well above the 30 allowed by the city code. It reduced the number to 43 during its presentation Tuesday. Edwards agreed to a further compromise put forth by Commissioner Adam Frankel to cut the number to 40.

Commissioners Al Jacquet and Tom Carney voted against the proposal. Commissioners Angeleta Gray and Frankel joined McDuffie in approving it. The project’s site plan still needs to be approved by commissioners before the project can go forward.

New Single Family Home Development in West Boca Coming Soon…

NEWS RELEASE

Limited Opportunity To Buy Exclusive West Boca Homes:

Minto Communities Announces New Model At Boca Reserve

Six home designs in Mission, West Indies and Palm Beach styles offer breathtaking beauty for 44 single-family homes in exclusive enclave community.

BOCA RATON, Fla. – October 26, 2012 – In a community internationally known for its culture, arts and luxury, Steve Svopa, vice president of Minto Communities, today announced the construction of its first furnished model in Boca Reserve, an enclave community of 44 limited edition homes that raise the bar even higher.

Paying homage to great Palm Beach, Mission and West Indies styles of yesterday and today, Minto’s model features towering rotundas, dramatic foyers with symmetrical staircases, a luxurious master bedroom and an airy gourmet kitchen. Prices start in the high $400s.

“As we developed communities in West Palm,WellingtonandFort Lauderdale, home buyers told us of the need for elegant new homes inWest Boca,” states Svopa. “Through our special enclave community of 44 homes, we fill that need with exceptional value for innovative designs, features and quality.”

The furnished model, called The Callista, includes four bedrooms, three and half baths, den and family room under 3,652 A/C Sq. Ft. The two-story model also features a four-car garage, covered patio and balcony and a beautifully landscaped lot.

The Callista, like all 44 limited edition homes in Boca Reserve, includes ENERGY STAR® certified products and a generous offering of premium standard features such as:

  • 10’ tray or vaulted ceilings
  • 18” ceramic floor tile
  • Complete GE® Energy Star® appliances
  • Granite countertops in kitchen, baths and laundry rooms
  • Low-E double pane, insulated windows
  • Upgraded kitchen cabinets

The private enclave community also features water front and conservation homesites with stunning views.

Boca Reserve is located onWest Palmetto Park Road, west of US-441 in West Boca.

Lennar announces new luxury lakefront development in Parkland, Florida

Parkland has long been known as one of Broward County’s most desired, prestigious addresses with a variety of intimate, luxurious residential enclaves and neighborhoods. Lennar is about to raise the bar with the introduction of MiraLago, their gated master-planned community, slated to open later this fall.

“The uniqueness and splendor of this community starts with the intrinsic ‘wow factor’ of the actual site – the largest lake in Parkland. The existing shoreline is comprised of a number of ‘peninsulas’ that will provide the majority of the home sites with expansive, panoramic lake views,” explained Carlos Gonzalez, president of Lennar’s Southeast Florida Division.

Residents of MiraLago will also enjoy a spectacular clubhouse, perfect for families of all ages. Once completed, Club MiraLago will offer both indoor and outdoor amenities that will easily compare to a luxury resort. With its great location, residents will be close to everything they enjoy, including fine dining and retail establishments, shopping and local attractions. Plus, children will have the opportunity to attend A-rated Parkland schools.

While the homes at MiraLago will represent exceptional luxury, they will also offer some of the best values in homebuilding today. With Lennar’s “Everything’s Included,” buyers are given a wide variety of luxury features and upgrades included in the price. The program’s recent enhancements include more features and enhanced energy efficiency and technology at no additional charge. What others call options, Lennar calls standard features,” said Gonzalez.

Finally some good news! Inventory of homes for sale shrinking in South Florida.

The number of homes and condominiums for sale across South Florida has steadily declined over the past two years, an encouraging sign for the region’s battered housing market.  Broward County had 19,869 properties on the market in July, down 35 percent from July 2008, according to a multiple listing service report compiled by the Keyes Co. Palm Beach County’s inventory of homes and condos slid 31 percent to 23,947 during the same period.  The supply of new homes being built in the two counties also has decreased sharply in the past two years, said Brad Hunter of the Metrostudy research firm in Palm Beach Gardens.  In 2005, sellers rushed to list their homes, hoping to fetch record prices during the housing boom. But the frenzy led to a collapse and prices plummeted.  Thousands of foreclosures and short sales have clogged the market ever since, giving buyers plenty of choices and little reason to pay top dollar.  “You won’t get price appreciation until you get the inventory in balance,” said Mike Pappas, president of Keyes. “We’re making great strides.”  Declines in homes for sale already have helped stabilize prices recently.  The median price in Broward rose 7 percent during April, May and June to $209,800 from a year ago, the Florida Realtors said Wednesday. Palm Beach County’s median increased at the beginning of the year but dipped 2 percent in the second quarter to $235,500.  Pappas said his firm is handling fewer transactions involving foreclosed homes, and he thinks that’s an indication the foreclosure market has peaked.

Copyright © 2010 Sun Sentinel, Fort Lauderdale, Fla., Paul Owers. Distributed by McClatchy-Tribune Information Services.

Where are the best waterviews in South Florida?

You can go to pretty much any city on South Florida’s coastline and find a beautiful view of the Atlantic Ocean, but where do you go to find that perfect mix of Ocean, Intracoastal, City, and Bay views? 

I recently took a poll and here were the results:

#5 – Fort Lauderdale

Building: Las Olas Grand
Price: $1,250,000
Location: Downtown Fort Lauderdale


 

#4- Boca Raton

Building: Reflections
Price: $1,150,000
Location: Lake Boca Raton

 

#3 – Fort Lauderdale

Building: Point of Americas
Price: $2,149,000
Location: Harbor Beach (Fort Lauderdale Inlet)
View: On a clear day, you can see from Lighthouse Point to Miami.  Located right on the inlet, cruise ships and yachts are daily sights from your balcony.  Beautiful ocean views as well.

 

#2 – Palm Beach

Building: One Watermark Place
Price: $2,995,000 – $12,000,000
Location: Singer Island
View: Palm Beach Ocean and Lake views, overlooking all of Palm Beach.

 

#1: Miami

Building: Carbonell
Price: $1,500,000
Location: Downtown Brickell
View: Ocean, Miami River, Bay, Downtown Skyline, Key Biscayne, Miami Beach




New FHA guidelines may help condo sales

New FHA Guidelines Could Aid Condo Sales New Federal Housing Administration condo-loan guidelines that took effect Dec. 8 could make it much easier for condo buyers to get a loan. Under previous guidelines, half the units in a new condo development had to be sold before the FHA would underwrite a mortgage in the complex. New guidelines cut the requirement to 30 percent and raise the ceiling on FHA loans in a development to 50 percent from 30 percent.

The new rules also allow condo associations to turn down an accepted offer if they agree that it’s too low—unless they will be violating the Fair Housing Act. This is expected to motivate many associations to seek FHA-approved status for their buildings.  Even if they solve the vacancy problem, FHA loans can be a tough sell in some buildings, says Miami-area practitioner Madeleine Romanello, an associate with Douglas Elliman Florida. “An FHA loan still has the connotation of being low-income.

Condo boards say, ‘No, we don’t do FHA.’ They don’t understand that the FHA is the only game in town. We could be moving tons of condos if we could get their buildings FHA-approved,” Romanello says.

Source: Investor’s Business Daily

HOT New Short Sale Listing In Downtown Boca Raton!

exterior1

Beautiful “villa-style” first floor residence in desirable Townsend Place. This full-service, five star building features a gate-manned entry, valet parking, a gated garage for residents, concierge services, dual fitness facilities, a resort-style pool deck, two-story club room as well as on-site staff to tend to your every need.

This 2,000 square foot unit features 2 bedrooms, 2.5 bathrooms, Saturnia marble flooring, hurricane impact resistant windows and doors, 10-ft ceilings, an oversized 600 square foot private lanai, and designer furnishings!  This property is being offered as a short sale and is subject to acceptance by seller’s lender.  Asking $475,000.

500 SE Mizner Blvd #A102

This Month In Real Estate – October 2009

Each month, This Month in Real Estate provides expert opinion and analysis on real estate trends across the nation. The aim of the consumer-oriented segments is to provide real information on real estate.
[youtube=http://www.youtube.com/watch?v=-Oq3bdOA2J8]

New Short Sale In Five-Star Gated Community In Downtown Boca Raton

Short Sale in one of Downtown Boca Raton’s most desirable full-service buildings!! – $475,000.00
Main Photo
Bedrooms: 2
Bathrooms: 2.5
Parking Spaces: 1
Year Built: 1998
Subdivision: Townsend Place
Located on Floor #: 1
Floors in Bldg: 9
Square Footage: 2000
Agent Name: Brian Pearl, P.A.
Broker: Keller Williams East Boca
MLS #: R3057209
HOA Includes: Cable, Water, Insurance, Common Areas, Etc.
Price: $475,000.00
Flexibility: Negotiable
Additional Pricing Information: Short sale subject to lender approval; broker cooperation welcome. Only ONE LENDER! Experienced short sale team has over 95% closing ratio!
Homeowner Dues: $1170/mo.
500 SE Mizner Blvd #A102
Boca Raton, FL 33432
  • Range/Oven
  • Full Refrigerator
  • Washer/Dryer
  • Dishwasher
  • Sink Disposal
  • Microwave
  • Security System
  • Vaulted Ceilings
  • 600SF Lanai
  • Marble Countertops
  • Saturnia Marble Flrs
  • Solar Tinted Windwos
  • Eat-In Kitchen
  • Swimming Pool
  • Hot Tub
  • Guest Parking
  • Recreation Center
  • Pool Deck
  • Valet Parking
  • Concierge
  • On-Site Management
  • Two Fitness Centers
  • Spa/Sauna
  • Gate-Manned Entry
Short Sale subject to lender approval; all final commissions approved by lender will be split 50/50 between brokers. Experienced Short Sale Attorney handling negotiations with bank; ONLY ONE LENDER!

**A SPECTACULAR DEAL IN TOWNSEND PLACE**
PRICED TO SELL, this spacious first floor residence is one of the few units in the building that experience 10ft ceilings. You will feel as if you’re in a private single family home, with the spacious floor plan and oversized 600 sq ft lanai overlooking the renowned Boca Raton Resort Golf Course!! Gorgeous Saturnia marble floors run throughout the living areas, and top-of-the-line details adorn the rest of the interior. Townsend Place, a full service 5-star building, includes in its amenities concierge service, valet, business services, a state-of-the-art fitness facility and a two-story Club Room that opens on to the recreational deck available for residents and their guests. Satellite TV, Wireless Internet at Common Areas (incl. the pool area), and on-site management are just a few other offerings in this gate-manned development. **Townsend Place is also a PET FRIENDLY building (up to two pets combined weight of 35lbs or one pet under 25lbs). Townsend Place Condo Association requires a $500 moving fee as well as 3 months of maintenance fees due from buyer at closing for capital reserve funding.

Brian Pearl, P.A.
561.245.1541

 

All information in this site is deemed reliable but is not guaranteed and is subject to change