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Real Estate & Development
Category archives for: Real Estate & Development

Palm Coast Seethes as Flagler Ends Hammock Dunes DRI’s Obligations to County and City

| December 20, 2011

The Flagler County Commission closed the books on the 28-year-old Hammock Dunes “development of regional impact,” angering Palm Coast over developer dollars the city contends should still be paid for widening Palm Harbor Parkway.

Palm Coast’s Strathmore Deli Closes, Citing Overhead; Another Strip Now Stressed

| December 6, 2011

Strathmore Deli, renamed Best Bagels & Deli, was the high-traffic anchor for the Parkway Plaza strip between Plam Coast Parkway and Cypress Point. Its abrupt closure four years after it opened is rippling with consequences.

200 Opponents of a Matanzas Woods Complex Tantalized By City Hints of a Solution

| November 3, 2011

Palm Coast Manager Jim Landon told opponents of the Sawgrass Villas project that the city might entice the bank that owns the land to open a branch on SR100, buying city land and enabling the city to buy the Matanzas Woods property.

Foreclosure Tale: When Renters, Despite Protections, Are Intimidated Into Leaving

| October 27, 2011

Palm Coast’s Genis family–mother, father, six children–was duly paying rent on its Smith Trail home when it was sold by the court and the family was given 10 days to clear out, even though it never saw an eviction notice.

Existing Home Sales Just Under 5 Million, 11.3% Better Than Last September

| October 20, 2011

Existing-home sales were down in September on the heels of a strong gain in August, but remain well above a year ago, according to the National Association of Realtors.

A Florida Bank’s Rise and Fall Spotlights Fast-and-Loose Culture Plaguing the Economy

| October 19, 2011

The rise and fall of U.S. Century, whose leaders used it as their own corporate ATM, exemplifies the failure to regulate banking during the boom years and the slipshod approach to the bailout. Losers are taxpayers and Florida residents grappling with ill effects of sprawl.

UF Survey: Political Acrimony and Economic Ills Hurt Real Estate’s Outlook in Florida

| August 15, 2011

The University of Florida’s quarterly Survey of Emerging Market Conditions concludes that economic and political worries are holding back spending, except by foreigners. Tourism is the state’s strongest bright sport.

From Federally Owned Foreclosed Homes To Rental Properties: Can It Work?

| August 13, 2011

Government-owned foreclosures as rental property investments: The government is looking for win-win solutions for taxpayers, renters, investors and neighborhoods, but there’s plenty of skepticism about the foreclosure-to-rental concept.

Condo No-Go: Florida Cabinet Sides With Flagler County Over Hammock Dunes

| August 2, 2011

In a victory for Flagler County, the Florida Cabinet unanimously approved a judge’s order that blocks Ginn-Lubert Adler’s plan to build an oceanfront condominium and hotel at Hammock Dunes, near the 16th Road public park and beach.

Hammock Dunes Showdown: Flagler and Developer Battle Before Florida Cabinet

| August 2, 2011

Ginn-Lubert Adler and investors want to build a 77-foot hotel and significantly increase the residential density in an area adjoining the public beach by 16th Rd. in the Hammock. Flagler County is opposed. The two sides are arguing their case before the Florida Cabinet today.

GMAC Mortgage Machination: Don’t Have Document to Foreclose? Make It Up

| July 30, 2011

When GMAC, one of the nation’s largest mortgage servicers, sought to foreclose on a homeowner last year and lacked a crucial document, the company just made one up, pointing to a pattern of deceptive filings to foreclose on homeowners.

Attorney General Bondi’s Motive Questioned in Firing of Mortgage Fraud Investigators

| July 27, 2011

Florida Attorney General Pam Bondi fired two assistant attorneys general who were heavily involved in investigating alleged mortgage fraud, including focusing on one firm that had contributed to Bondi’s campaign. Bondi says they had “shortcomings.”

Is Flagler County’s Real Estate Industry Finally Brightening? Depends Whom You Ask.

| July 18, 2011

Sales are increasing somewhat by volume but more than half the transactions are for cash, prices keep falling, foreclosures are increasing, and the overall economy shows little sign of improvement.

City Marketplace in Receivership; Public Sale of the Palm Coast Development Set for August

| July 8, 2011

City Market Place, where Palm Coast has its municipal offices, has been mired in foreclosure proceedings since 2009. The changes aren’t expected to affect tenants except, perhaps, for the better.

20% Down Mortgage Requirement Would End Middle Class Home-Ownership As We Know It

| June 20, 2011

If a proposed Qualified Residential Mortgage Rule (QRM) of 20% down and spending less than 28% of monthly gross income on the mortgage takes effect, Marc Morial of the National Urban League argues, middle class home ownership will be a thing of the past.

Sprawl-Fighting State Oversight Agency Is Dissolved, To the Delight of Local Developers

| June 15, 2011

The Florida Department of Community Affairs, created in 1969 to manager growth, is being diluted into other agencies, leaving local governments much freer to develop as they choose.

Coquina Defund: Palm Coast’s Desalination Hopes Dry Up As Last Partners Drop Out

| June 8, 2011

The Coquina Coast Seawater Desalination project unveiled 14 general sites where the plant might be located in Palm Coast, but it may be a moot discussion as the city’s financial partners are quitting, and Palm Coast can’t afford it on its own.

When Will That Walmart Open on Old Kings Road? “Nobody Knows”

| June 8, 2011

Expanding Old Kings Road was to guarantee Walmart’s opening by 2011, with 400 to 500 jobs. Instead, the city is left holding a bag-full of empty promises–and a $6.3 million loan from its utility fund.

Scott Signs Development Bill That Virtually Eliminates State Oversight of Local Planning

| June 2, 2011

Local governments will get to decide how and where to grwo with little or no interference from the state growth-management regulators, whose role is now severely limited.

As Palm Coast Talks Development, Housing Prices Hit New Low, Falling 4.2% in 1Q

| May 31, 2011

Housing prices fell to levels not seen since 2002 as double-dipping prices hit new recession lows. Meanwhile, the Palm Coast City Council discussed approval of a plan that would add 12,000 housing units to the local hosing stock.

In a Shift, and Despite Glut, State Approves 5,000-Home Palm Coast Development

| May 23, 2011

Old Brick Township to Palm Coast’s northwest is just one of several planned developments and existing lots that would add 40,000 new homes and 9 million square feet of commercial and industrial zones, more than doubling Flagler’s and Palm Coast’s populations.

Hurricane Tallahassee: Environmentalists Survey Wreckage of 2011 Legislative Session

| May 13, 2011

Developers gained more power in environmental disputes, state regulation of development was scaled back, the Department of Community Affairs is all but history as the Florida Legislature diminished the state’s growth management role in favor of development.

Summit-Scaling: Enterprise Flagler, Rising Again, Wants $6.5 Million Over 3 Years

| May 12, 2011

What you can expect at Friday’s economic-development summit: Demands for more tax dollars, speculative promises of thousands of jobs from executives, skepticism and disconnects. In short, a retread of old scenarios.

Making It Right in New Orleans, 6 Years After Katrina: The Grit of Pitt and Green

| May 11, 2011

From Brad Pitt’s Make It Right program to a broad-based spirit of enterprise, Flagler Beach’s Frank Gromling has been tracking New Orleans’ rebirth every year by attending the city’s annual jazz festival.

Florida Home Sales Rise in 1Q, Home Values Tumble Again

| May 10, 2011

Florida home sales rose 13 percent in the 1st quarter, led by a glut of bank-owned homes on the market, but housing prices continued to fall, dampening hopes that property values have bottomed out.

Loan Modifications: How Banks Require Struggling Homeowners to Waive Rights

| May 10, 2011

Mortgage loan modification scams: Regulators ban the practice, but banks are forcing homeowners struggling to save their home to sign away their right to sue.

County Property Values Fall Another 14%; Palm Coast: -12%; Tax Rates Heading Up

| May 5, 2011

The declines, for the fourth year in a row, will define to what extent local governments must either raise taxes or cut services as they prepare next year’s budgets. Governments have little room to cut anymore, short of vitals services.

Property Tax Overhaul Passes House: Breaks For New Home Buyers, Business, Snowbirds

| May 2, 2011

First-time home buyers would get a 50 percent property tax break on the value of their home. Voters would decide whether to cap property tax assessment increases for commercial properties at 5 percent.

Palm Coast’s Latest Invitation to Landowners: Come Build a Business Park With Us

| April 26, 2011

Palm Coast’s business park partnership program would entail spending significant taxpayer resources to develop construction-ready sites in partnership with private property owners, as bait for future commercial activity.

New Home Sales Rebound From Record Low, But Sales Still 22% Lower Than Last Year

| April 25, 2011

March new home sales post an 11 percent increase over February, but February had posted a record low, and March’s 300,000 sales volume is still 22 percent below sales in March 2010.

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