Timeline of the Hammock Dunes development DRI from its Admiral-ITT origins through its Ginn-Luber Adler ownership and disputes with the Flagler County Commission.
Real Estate & Development
Palm Coast Seethes as Flagler Ends Hammock Dunes DRI’s Obligations to County and City
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
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
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
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
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
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
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?
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
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
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
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
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.
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
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
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
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
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”
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
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
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
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
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
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
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
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
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
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
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
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
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.
Growth-Management 2.0: Local Government Whims Sprawl Over State Oversight
Republicans have complained for years that growth management rules slow growth in the state. A glut of empty homes suggests otherwise. Local governments will be empowered to take advantage of far more lax growth rules.
Property Tax Reform: 50% Exemptions, Breaks for Investors, Losses for Local Governments
Supporters of the overhaul say it’ll fill up empty homes. Critics say it’ll also slash local government revenue and further shift the tax burden to current residents, exacerbating inequities.
Flagler Power: From Bunnell By-Pass to Weigh Station to A1A Seawall, FDOT Retreats
Three times in the past 12 months, Florida Department of Transportation projects in Flagler County have foundered on the well-organized shoals of local opposition across government boundaries and fiefdoms.
Palm Coast Maps Out Gentler, Kinder Impact Fees on Developers, But Questions Arise
The one-time impact fees developers pay when they build something would be lower for residential construction. Builders would get discounts for paying up front, or get to pay them on an installment plan.
More Questions Than Answers As Palm Coast Desalination Project Scouts Locations
The public got its first chance to weigh in on Palm Coast’s $200 million seawater desalination project. Opinions were not friendly, and concerns over environmental issues specific.
In Your Backyard: Public Discussion on Where to Plunk Desalination Plant Wednesday
The $200 million, Palm Coast-led desalination project is holding an open house and public comment period on the project’s location beginning at 6 p.m. at the Whitney Laboratory in Marineland on March 9.
Familiar Slogans and More Familiar Questions as 2-Day Economic Development Summit Ends
It was left up to Palm Coast City Manager Jim Landon to remind the assembled that slogans don’t make economic development policy, and unity of message is still far from a given in a county with diverse interests and constituencies.
Marineland’s Future: Dividends in Waiting After Acquisition by Georgia Aquarium
David Kimmel, President of the Georgia Aquarium, the new owner of Marineland’s dolphin attraction, and others assess the future of the marriage between town and attraction.
Impact Fee Challenges in Florida: Legislature Moving to Neutralize Local Governments
Local governments are challenging a 2009 law they consider an unfunded mandate that shifts the burden of proof from developers to governments in impact fee challenges. In a boon for developers, lawmakers are rewriting the law to make it challenge-proof.
Flagler Beach and Willing Investor Still Not Moored to New Pier Restaurant Lease
Raymond Barshay and Flagler Beach Commissioners are at odds over the fate of the bait and tackle shop, which has been attached to the Pier Restaurant. They’re at odds over several other issues. But they’re still talking.
Done Deal: City Picks Architecture Firm, Advertises Construction For New City Hall
City council members, including Mayor Netts, insist that until they have a signed contract, nothing is a go. Netts is still waiting for hard data from City Manager Jim Landon justifying the new building.
Palm Coast Largely Rejects County’s Economic Development Track, Including New Tax
Ahead of Jan. 31’s countywide summit on economic development, Palm Coast is saying no to a new sales tax, no to a common pot that limits Palm Coast’s influence, and no to a new economic development council.
Bunnell’s Central Commerce Park Finally Breaks Ground, With an Order of Wendy’s
A new Wendy’s restaurant in April will be the first business at Flagler Central Commerce Park in Bunnell, a 1 million square foot commercial development seven years in the works. So far, no other business has signed up.
Postcard-Size Economic Development: Palm Coast’s Plea to Absentee Property Owners
The city administration is planning to send postcards to owners of some 18,000 empty lots and 5,400 empty homes as a step to reviving the real estate market, though the city’s development policy is at cross-purposes with filling those empty lots.
Negotiations Over New Pier Restaurant Lease Crawl Between Nods and Deal-Breakers
A marathon negotiating session over a new Pier Restaurant lease between the Flagler Beach City Commission and restaurateur Raymond Barshay left several issues unsettled.
Greasy Spoon No More? Flagler Beach Ready to Negotiate New Lease for Pier Restaurant
A year of indecision later, Flagler Beach city commissioners will discuss a 31-year lease with Ormond Beach restaurant owner Raymond Barshay at a special meeting of the commission on Dec. 22.
Trial May Settle Ginn-County Dispute Over Towering Condo at Hammock Dunes
Neighbors and the county strenuously objected to Ginn-Lubert-Adler’s proposal to build a massive, 561-unit condo-hotel on the beach at the end of 16th Road, even after the developer scaled back the proposal to 289 units.
Deceptive Calm: Flagler and Florida Spared 3rd-Busiest Hurricane Season on Record
The calm is deceptive: Florida has done nothing to reduce its colossal property-insurance exposure. To the contrary. Builders are increasingly encouraged to build anywhere to reverse the effects of the real estate crash.
Wrongful Foreclosure: What You Need To Know
Banks and foreclosure defense attorneys disagree on whether errors in the process have caused wrongful foreclosures — but their definitions of what constitutes a “wrongful foreclosure” differ.