BOYNTON BEACH REAL ESTATE NEWS

December 15, 2006 - 3000 New Condos Set To Be Built On Federal Highway In Boynton

June 2005 - Florida #1 in Best States For Relocation 2005 Study

June 2005 - Best Places to be Rich - Palm Beach #2

November 14, 2005 - Splashy Design offered for West Palm Waterfront

More than 3,000 units going up on Federal

By Will Vash

Palm Beach Post Staff Writer

Sunday, December 17, 2006

BOYNTON BEACH — With Delray Beach and Boca Raton at build-out, developers are looking at the oft-neglected Boynton Beach area as that last bit of paradise for breezy condominiums steps from the Intracoastal Waterway in southern Palm Beach County.

More than 20 residential projects with more than 3,000 units, including several with retail space, are under construction or planned within the next two years from just north of Gateway Boulevard to a few blocks south of Gulfstream Boulevard.

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Florida Is #1 In "Best States For Relocation 2005" Study

Key Biscayne, FL - Jun 2, 2005 (PRN) : "Best States for Relocation 2005", a new study released today to mark the start of the summer moving season, has identified Florida as the most popular U.S. state for interstate moves.

Although California has dominated relocation statistics since the 1930s, the Census-based study by iMovingGuide.com vaulted Florida into first place by a wide margin. California , Texas , Georgia , and North Carolina follow Florida in the top five, confirming long-term U.S. migration patterns to the Southeast and Southwest. Rounding out the top 10 are Arizona , Virginia , New York , Colorado and Pennsylvania .

Working from the premise that people "vote with their feet", the study used a complex algorithm, conceptually similar to Google's PageRankT, to measure the "votes" of more than 29 million interstate moves reported in the U.S. Census. In the study, each move is counted not only as "vote for State A", but also as "a vote for State A over State B".

"The problem with previous studies is that they predetermine the importance of each factor such as such as crime, pollution, jobs and health care," commented Jim Lane , publisher of iMovingGuide.com. "But people view these factors in different ways. For example, a young couple with small children will place more emphasis on schools than elder care, but an older couple preparing for retirement feels the opposite way."

"To solve the problem, Lane continued, "this study uses actual relocation decisions that people made, rather than making guesses about how to weigh their motivations. Whether new residents are moving to enjoy a better life, or pursue one, this study measures what they are telling us with their actual relocation decisions."

There is not always a strong correlation between large population and relocation popularity. For example, the state of Nevada is ranked #35 in total population, but was ranked #14 in the iMovingGuide.com study. Other states with striking relocation popularity include Colorado (22nd in population, 10th for relocation), North Carolina (11th and 5th), and Arizona (18th and 6th).

"With the summer moving season beginning this week," Lane said, "this study will help potential new residents focus in on great places to live. It also helps states and communities understand their positioning with potential new residents."

Best Places 2005: Ratings by State

Rank State (Points) (Population Rank)
1 Florida (4,008) (4)
2 California (3,099) (1)
3 Texas (3,027) (2)
4 Georgia (2,657) (9)
5 North Carolina (2,369) (11)
6 Arizona (1,978) (18)
7 Virginia (1,963) (12)
8 New York (1,764) (3)
9 Colorado (1,569) (22)
10 Pennsylvania (1,544) (6)
11 Washington (1,510) (15)
12 Illinois (1,495) (5)
13 Nevada (1,406) (35)
14 Tennessee (1,402) (16)
15 Ohio (1,376) (7)
16 New Jersey (1,351) (10)
17 South Carolina (1,196) (25)
18 Michigan (1,155) (8)
19 Maryland (1,080) (19)
20 Oregon (1,066) (27)
21 Indiana (1,045) (14)
22 Missouri (990) (17)
23 Massachusetts (951) (13)
24 Alabama (917) (23)
25 Oklahoma (835) (28)
26 Kentucky (744) (26)
27 Wisconsin (701) (20)
28 Louisiana (695) (24)
29 Minnesota (676) (21)
30 Connecticut (619) (29)
31 Arkansas (615) (32)
32 Utah (608) (34)
33 Kansas (602) (33)
34 New Mexico (568) (36)
35 Mississippi (519) (31)
36 Iowa (420) (30)
37 Idaho (409) (39)
38 Hawaii (353) (42)
39 West Virginia (324) (37)
40 Nebraska (303) (38)
41 New Hampshire (290) (41)
42 District of Columbia (247) (50)
43 Montana (227) (44)
44 Delaware (222) (45)
45 Alaska (221) (47)
46 Maine (217) (40)
47 Rhode Island (200) (43)
48 Wyoming (135) (51)
49 Vermont (134) (49)
50 South Dakota (110) (46)
51 North Dakota (89) (48)

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Tougher times for renters looking for a home

With many apartment buildings being converted to condos, occupancy levels are near capacity.

BY RICHARD WESTLUND
richard.westlund@earthlink.net

It took Desi Stommes more than three months to find a Kendall apartment in her price range. ''With so many apartments being turned into condominiums, it's getting harder and harder to find a place to rent in Miami ,'' she said. Stommes, 24, who works in the reservations department at Norwegian Cruise Lines, eventually found a one-bedroom at Cherry Grove Village for $795 a month. ''There just aren't many nice apartments in that price range,'' she said, ''but this is an area I like, and it's close to the expressway for me to get to work.''

Finding a suitable apartment in South Florida is getting tougher and tougher, say leasing agents and analysts. ''Right now, we're seeing occupancies in the 95 to 98 range throughout South Florida ,'' said Robert Konegen, general manager of Florida RentFinders, a Fort Lauderdale-based rental service. ''When we get listings for rent, they're gone within days.''

A February survey by Reinhold P. Wolff Economic Research, a Pompano Beach economic research firm, found a 3.6 percent vacancy rate in 38,615 Miami-Dade apartments in complexes 18 or more months old. That's a significant drop from the 5.1 percent vacancy rate of February 2004. The survey also found a 2.9 percent vacancy rate in 60,719 Broward apartments in February, compared with a 5 percent rate just 12 months prior. Since mid-2004, vacancy rates have fallen even for more expensive apartments, the survey found.

With high occupancy rates, more tenants are staying put, rather than relocating, Konegen added. ''That's fine once you have your apartment, but if you're still looking for a rental, that trend can make things tougher.'' In Palm Beach County , the market is particularly tight, Konegen said, because many contractors and workers are still repairing damage on the Treasure Coast from last fall's hurricanes.

One key reason for lower vacancy rates is that for the past three years, developers have concentrated almost exclusively on for-sale condominium projects, rather than rentals. Historically low mortgage rates and a wave of investor interest have created instant sell-outs at new condominium projects -- even those that won't be completed for two to three years.

Responding to those market forces, developers are purchasing the most attractive apartment communities and converting them to condominiums. ''There are probably at least 10,000 units that have been converted in the past few years, including many garden-style suburban communities,'' said Jay Massirman, executive vice president of CBRE/L.J. Melody South Florida Multihousing Group in Miami .

Massirman estimates there are about 500,000 apartments in Miami-Dade, Broward and Palm Beach counties in complexes with more than 100 units. Even though many owners of new condos are renting out their units individually, the net result is that thousands of apartment units have disappeared from the rental market. ''We just don't have as many rentals,'' said Linda St. Hilaire, sales associate and property manager of ERA Home Sales in Surfside.

At the same time, a steep rise in home prices over the past three years has made it more difficult for renters to buy homes.

With virtually no new rental construction, South Florida 's overall pool of apartments is beginning to age. ''What's happening is that many of the better quality apartment communities with higher rents have been converted into condominiums,'' said Keith White, president of Reinhold P. Wolff Economic Research. That's the main reason average South Florida rental rates have not increased in the past year, White said, since those units are no longer counted.

While rents have held steady at an overall average of about $1,000 a month in Miami-Dade and Broward -- concessions that were common , like a month's free rent on signing a year's lease, are disappearing.

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Best Places to Be Rich

CA (4) and FL (2) get 6 out of the top 10 slots

Aspen , Palm Beach and San Fran are top 3

Forbes.com
Sara Clemence and Vanessa Gisquet
There are plenty of perks to being rich: never having to look at price tags; having someone to do your laundry; being able to live wherever you like.

Of course, with endless choices come dilemmas. When you can have anything, how do you decide? If you can afford to live anywhere, where do you live? Do you opt for mountains or mansions? Penthouses or palm trees?

Well, when you're rich you can have it all. One of the benefits of wealth is the ability to not limit oneself to just one address. In fact, if you can live anywhere you want, you probably already do. Accord ing to a survey by the National Association of Realtors, 36% of residential sales in 2004 were second homes, with buyers undoubtedly encouraged by low interest rates. The very rich often own at least three homes--even if their main residences are not always in glamorous locations such as Aspen or Santa Barbara .

Aspen - We're not surprised this high-altitude resort town came out at the top of our list. Aspen does have just one Louis Vuitton store and less than a handful of plastic surgeons, but consider the fact that it has a population of just 6,000 and you start to see what a small and select group lives (or, more likely, has one of many vacation homes) here. Accord ing to our estimates, there is one private chef in town for every 150 residents, and Aspen was in the top ten when it came to median home price.

Palm Beach - In the 1920s, everyone who was anyone wintered in this playground for the privileged. Today, that still holds true. America 's wealthy converge on this slim barrier island for the season, a several-week-long stretch of glittering charity balls and endless parties. Palm Beach has one professional butler for about every 500 residents, which might almost seem low, and more orchestras per person than any place else on the list, which, given the indulgent lifestyle, might seem surprisingly high. And don't forget the houses: it's Mediterranean mansion central.

Those who occupy the lofty elevations of Russian Hill, Pacific Heights and Presidio Heights would surely agree that San Francisco should be high on the desirability list. The weather may be damp and fickle, but this West Coast city has far more than its fair share of good food, good shopping, culture and high society. Anyway, the days of this being a hipster heaven are long gone as today you need plenty of bucks to live here.

With a median home price of $960,000, it's no wonder Santa Barbara ranked 4th on our list. The posh coastal city also ranked in the top ten in the fine dining category. Even though there is no local Louis Vuitton store, it does boast a high percentage of personal chefs, butlers and, of course, celebrities neighbors like Oprah Winfrey. Oh yes, it's also really beautiful.

With countless events happening every night of the week, let alone every second of the day, New York is a stomping ground like no other for the very rich and famous. Be seen not at the opera, but the operas, not to mention the ballets, plays and symphonies. Didn't score as high as we expected for beauty, but that's fine--all the models roaming around town make up for it.

As long as you don't mind the crowds, Las Vegas appears to be a great place to be rich. There's plenty of high-end shopping, lots of good restaurants and a fair number of plastic surgeons to keep everyone looking good. The median home price is $266,400, about 60% less than another top-scorer, San Francisco .

If you live in Atherton or Palo Alto , you know why San Jose made it onto our list. Ranking high in luxury goods, charity and culture measures, this California city attracts the wealthy and has the services to keep them happy.

Especially for warm weather lovers, Miami is a little slice of heaven. South Beach offers an array of restaurants and nightclubs, and you are not likely to be disappointed by Coral Gables ' beautiful mansions.

Though it didn't score particularly well in the culture or charity departments, San Diego doesn't weigh in too far from the top when it comes to pricey homes. It's tough, after all, not to be swayed by a year round average temperature of 70 degrees--not to mention La Jolla 's stunning coastal views.

Denver out-scored cities like Los Angeles and Seattle to earn 10th place on our list, so it's clear that Rocky Mountain city offers much more than rustic, Western appeal. Denver came in the top ten for both the culture and charity categories. Outdoor lovers certainly can't complain: Denver apparently has more than 300 sunny days a year, the largest park system in the U.S. , and dozens of golf courses--not to mention plenty of skiing nearby.

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Splashy design offered for West Palm waterfront

A movable show pier highlights the aquatic-themed downtown of the future.

By Thomas R. Collins Palm Beach Post Staff Writer Monday, November 14, 2005

WEST PALM BEACH - Maybe coming to a waterfront near you: a moving pier lit up like a giant electric eel.  Walkways that go straight out over the water to islands that never used to be there.

An optical illusion using a waterfall that makes it appear on Clematis Street as though the Intracoastal Waterway comes all the way up to where the library stands now.

All these things - plus more meditative paths, parks and tidal gardens than you can shake a water noodle at - are part of the picture that designers have painted for the West Palm Beach downtown waterfront of the future.

If even some of the features proposed for the project come to pass, the waterfront, long considered sadly underused, will spring to life and likely draw visitors from far and wide. It could come to define West Palm Beach in the same way that the Nancy Graham fountain and CityPlace have - a logo-worthy spot given to people-watching and spontaneous activity.

"People make their own stage when they go into these spaces," said Jane Thompson of Boston-based Thompson Design Group, a firm on the city-hired team. "It's all a human parade."

But all of this adventurous designing will require great care, the tackling of enormous engineering questions, and lots of money, some of which would be spent moving the stretch of Flagler Drive from Datura Street to North Clematis Street as much as 200 feet west in one spot to create more space next to the water.

Before he agrees to spend taxpayer money, Commissioner Ray Liberti said, he needs to be convinced features such as the movable pier will not get "stuck every week" and that "it's not going to be called 'The Commission's Boondoggle' or 'Frankel's Folly,' " a reference to Mayor Lois Frankel.

The design team, which is led by CH2M Hill, hasn't submitted cost estimates, which are expected to be turned over to the city early next year, Thompson said. The city has set aside $20 million, secured grants and hopes to sell naming rights for some of the features. The project would be built in phases over several years.

And the plans are far from final. Many of the items will be changed dramatically or eliminated, depending on how much they cost and how elected officials and the public continue to react to them.

But city commissioners and members of a resident evaluation committee embraced most of the ideas last week. And the plans will probably start cementing quickly.

The designers have broken the waterfront into three zones:

n The Waterfront Commons, from the north prong of Clematis Street south to about Datura Street , would be the main area of activity and likely the first to be built. The star of the commons would be a movable 400-foot pier capable of performing light shows that could become the waterfront's signature. Nearby, a platform next to the water could be used for performances. A bit to the west, designers have proposed a shallow pool with water levels in sync with the tides, a pavilion covered in greenery, a garden area, a small beach with real sand and two waterfalls forming a tunnel people could walk through.

Richard Staudinger, the project manager from CH2M Hill, which has offices in West Palm Beach, said the idea of the movable pier is uncommon even for his firm, which designs waterfronts worldwide.

"We're really trying to do something unique," he said.

n At South Cove, between Fern Street and the bridge at Okeechobee Boulevard , artificial reefs would be created in the Intracoastal Waterway and connected to land by walkways. The existing pathways would be transformed with heavy, exotic landscaping.

n The Family Water Science Park, from the north bridge at Quadrille Boulevard south to Second Street , would include paths through heavily landscaped areas and a fishing pond and water science park for children.

With daring ideas, though, could come intimidating risks, some say.

"The first thing that I thought of is, what would happen if there were hurricane winds coming in?" Commissioner Ike Robinson said. "Nothing is indestructible."

As for the shallow pool, Deborah Beriro, one of the committee members, said, "Is the city ultimately going to be held liable for a bunch of broken heads and necks?"

Others questioned how much contact the public would want to have with the polluted Intracoastal Waterway . After all, Commissioner Bill Moss said, "This is not a pristine northern lake between mountains."

Thompson, whose firm has designed renowned projects such as Baltimore 's Inner Harbor , said the engineering questions and making the seemingly vulnerable items hurricane-proof aren't as complicated as many people might think. Making the pier adjustable might allow it to be swiveled toward shore and anchored there in the event of a hurricane. And the hurricane solution for the walkways out to the islands might be simple: Build them so they can be easily dismantled before a storm hits, then put back together again.

"I think a lot of people are spooked by things they cannot imagine," Thompson said. That doesn't mean anything can be totally storm-proof, she said.

"There is no absolute answer," Thompson said. "Nothing in engineering is ever validated until you do the drawings."

Staudinger said the designers have been careful not to propose anything without a basis in engineering.

But the designers now await reaction from city leaders and "real, hard engineering" hasn't been completed yet, he said.

Joan Goldberg, who is coordinating the design effort for the city, said, "Storm management and safety issues in general are going to be at the top of the city's list."

Some say they're worried the plans might be too fancy.

"My feeling is, you don't need all that gingerbread," said Frank Coniglio, owner of E.R. Bradley's Saloon, which sits next to the areas to be changed. "I'm sure they could find some better places to put that money."

He said he was especially worried about changes to Flagler Drive , in part because it's already pretty now and because of the disruptions that would be caused by constructing a new stretch of road.

Patty Doherty, owner of the downtown advertising business Table 13, said she loves the plan. "I imagine people who are using it - people who are like me and people who are not like me," she said.

Commissioner Kimberly Mitchell and others have said the site needs a notable civic structure because the waterfront is so important to the city.

Some have even said the plans aren't fancy enough.

To them, Mayor Frankel, who has championed the project, said: "To me, having a light show on the Intracoastal is as 'wow' as you're gonna get, folks. I mean, we can't send you to the moon."

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March 23, 2006 - South Florida Hotel rates are on the rise again

BY DOUGLAS HANKS III
dhanks@MiamiHerald.com

South Florida hotels boosted rates last month as the region continued evolving into a pricier vacation destination.

The average hotel guest paid $169 per night last month in Miami-Dade County, up $14 from February 2005, according to the latest Smith Travel Research survey. In Broward, the average rate rose 15 percent to $147.

The higher rates didn't seem to turn off travelers: Occupancy remained steady at 81 percent in Miami-Dade and 88 percent in Broward.

''Weekends, we're solid sold out,'' said Henny Schaeffer, general manager of South Beach's Astor Hotel.

But softness continued in the Florida Keys, where occupancy dropped 15 percentage points from a year ago to 74 percent. Revenue per room -- a common industry measure of profitability -- dropped 8 percent, following January's dip in bed taxes in Monroe County.

Hoteliers there blame the slowdown on continued fallout from Hurricane Wilma, which battered hotels, swamped roads and attracted national media attention.

Also, the continuing upgrade of Keys hotels and the conversion of many to upscale condo-hotels has added another hurdle to would-be Conch Republic vacations: price.

The average Keys room rented for $216 a night in February, up 9 percent from a year ago.

''I think we scared some people away with our rates,'' Chris Majchrowicz, general manager of Key West's Fairfield Inn.

In Miami-Dade, the Miami boat show traditionally boosts rates in February, and Miami Beach hotels expect a lift from this week's Winter Music Conference. The dance-music fest generally packs rooms with music-industry executives and partyers.

Miami-area hotels in February posted the second-highest average daily rates among the country's Top 25 hotel markets, second only to New York's $190 rate. The Fort Lauderdale area and the Florida Keys are not Top 25 markets.

Room revenue -- which measures occupancy levels and room rates -- grew in two of the three markets: up 10 percent in Miami-Dade to $151, up 15 percent in Broward to $147. In the Keys, it dropped to $160.

February's high season growth for the Miami area was boosted by a slight loss in room inventory as more hotels close down for renovations or convert to condominiums.

Smith Travel reported 1.5 percent fewer rooms were available last month than a year ago.

The increase also follows a January some hoteliers said was slow, possibly due to a mild winter in the Northeast.

The higher rates have helped bring in more tax dollars.

Resort taxes grew 13 percent in Miami-Dade in January over a year ago, to $7.1 million, and 19 percent, to $4.3 million, in Broward.

In Monroe, resort taxes dropped 3 percent to $1.3 million.

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