Monday, November 24, 2014

FT. LAUDERDALE AIRPORT’S $2.3 BILLION DOLLAR MAKEOVER


FT. LAUDERDALE AIRPORT’S $2.3 BILLION DOLLAR MAKEOVER

This is very exciting news to me. Growing up in New York City, I was used to the bland, dirty airports at LaGuardia and JFK that didn’t offer much in the way of restaurants or anything else. So when I moved here I thought that both the Palm Beach and Ft. Lauderdale airports were much better since they had some decent restaurant choices. Now we are going to be leading the way for airports with this new $2.3 billion dollar makeover which will take 3 years. Passengers will have great options to eat, shop and relax when it is completed. The 80 new restaurants even feature some of our local successful eateries such as Rocco’s Tacos, Canyon Tapas & Bar and Casavana Restaurant. This airport improvement comes at an exciting time, with all sorts of growth taking place in South Florida. I just posted yesterday about plans for two 93 story tower buildings that will be built in Downtown Miami. They will be the tallest buildings South of Manhattan and reflect the change that is taking place in South Florida now. We are finally becoming a major destination for business as well as tourism, more like a New York, Chicago, etc. We have plenty of room for improvement but are well on our way and now we will have an airport that we can all be proud of. It seems like everything is getting bought, cleaned up, redeveloped and sold these days so why should the airport be any different? Will this put some pressure on Palm Beach Int’l Airport to follow suit to be competitive? Regardless, it is all good and I think you will be impressed with the new terminal plan. Check it out. As always thanks for reading and have a great day.

A flier's delight: Lauderdale airport to offer 80 new eateries, shops


Thursday, November 20, 2014

BOCA RATON TO INCREASE INTERNATIONAL AIR TRAFFIC WITH OWN U.S. CUSTOMS AREA


BOCA RATON TO INCREASE INTERNATIONAL AIR TRAFFIC WITH OWN U.S. CUSTOMS AREA

Boca Raton’s cache grew a little larger with the news that it would soon be getting its own U.S. Customs inspection area at the Boca Raton airport. This means that Boca Raton business travelers and residents who fly internationally had to go one of the other area airports before being allowed to Boca. No longer once this is built, which could be anywhere from 2016 to 2018. That depends on who contributes what to the total $3 million dollar cost. The idea of building the customs area in Boca had been discussed for years. I wonder why it finally came to pass? The idea is that it makes the area more attractive to companies who fly internationally, so they might want to set up offices here. It also makes the area more appealing to high net worth individuals who might want to buy a home here. I think it will accomplish both, and it certainly sets the city apart from other highly desirable places in the county like Palm Beach, Wellington Palm Beach Gardens, etc. Finally, safety was even mentioned as a benefit since most accidents take place when planes are taking off or landing. This will reduce the need for flights to have to stop elsewhere for customs, reducing the total amount of flights. This just makes Boca Raton an even more attractive place for people to live and work, which is all good. I think my house just increased in value? As always, thanks for reading and have a great day.

Boca lays out plan to land international flights at airport

Monday, November 17, 2014

SPRING TRAINING BASEBALL UPDATE: $108 MILLION IN FINANCING AWARDED


SPRING TRAINING BASEBALL UPDATE: $108 MILLION IN FINANCING AWARDED

You were probably wondering what was going on, why there was no update here even though the “final” vote on the new spring training baseball stadium was held on October 21. I have been busy and there is no finality here one way or the other. But progress was made, in the form of $108 million in financing being approved by the Palm Beach County Commission. But the site that was the first choice at 45th St. in West Palm Beach is no longer a certainty. West Palm Beach is considering another proposal and won’t respond on this for another 90 days. So while not ruled out, the teams are seeking another site now. All the previous sites are back in play except for the John Prince Park site in Lake Worth. It is really hard for me to believe that West Palm Beach could be close to losing this deal, due to their own actions. This is a once in a lifetime chance to create a year round tourist attraction that would replace a longtime blighted area. How every single person in the city is not jumping on this opportunity is just incredible. While I am rooting for them, I have to dream about this happening just a few miles from my house at Glades Rd. West of 441 in West Boca Raton. Now that the financing is approved things should move quickly now and finally reach a conclusion. It is looking good for spring training baseball in South Florida right now, because once this deal happens the existing teams in the area will renew their leases. Should be another update soon. As always thanks for reading and have a great day.  

Baseball teams get $108 million, still need a site —in west Palm Beach County?


Friday, November 14, 2014

ROSENFELD RESTAURANT REVIEW: LA FERME & M.E.A.T. EATERY & TAPROOM


ROSENFELD RESTAURANT REVIEW: LA FERME  & M.E.A.T. EATERY & TAPROOM

We are bringing back the ever popular 2 for 1 restaurant blog, and have a real study in contrast with these 2 places. Let’s start with La Ferme. This is the old Bistro Gastronomie space in West Boca Raton. That was the very high end restaurant that lasted only 6 months, dashing the hopes of area residents who hoped for a high end restaurant of their own. But it was reborn as La Ferme, and the décor is exactly the same. They now have the highly acclaimed chef John Bellame, who was voted best chef in Palm Beach County when he was with Stephane’s. The prices are still high but we came with high hopes as well. The service was great, and even the managers were very kind and attentive. I started with the French Onion soup, which was good. I then had the duck, which came with a confit leg and breast. The leg was awesome but the breast wasn’t great. I told the manager this (since they stopped by to ask) and they agreed with me. That led to some free deserts. My wife had the scallops, which were grilled and on top of some tasty green vegetables that I couldn’t identify. It was excellent. They had no children’s dishes, but were able to improvise and get the macaroni from the mac & cheese with just butter and all was good for my little one. That being said, it is really easy and inexpensive to have kid’s options available and they should certainly have some given their West Boca location where there are many families. The deserts were a hazelnut chocolate cake and an apple tart. The tart was OK, and the cake was not good. It was the only chocolate cake they had, a huge mistake in my opinion. Clearly they are still ironing things out there but the food was good and we will give them another chance.

M.E.A.T. is located in an office building on Federal Highway in Boca. It is a very tiny place, but has lot of seating options in the atrium area and sort of bar like seating. They had an impressive array of tap beers and some nice big screen TV’s. My client was looking for a burger and I had heard some good things about this place which was close to his office. Not only do they make fresh burgers and their own sausage, they also have a smoker and make their own BBQ meats. I had the turkey burger and duck fat fries. The burger was great, although very small (5 oz.) and with lettuce that I didn’t want or ask for. The fries were awesome, very crispy. They make their own condiments which were good too. My client had a regular burger and cole slaw. He liked it but thought it was just OK. The question is how can these guys get enough people in here to make it? They have good food but a very strange location. Next time I will give the BBQ a try. I wish both of these restaurants the best and look forward to going back to both. As always thanks for reading and have a great day.

Thursday, November 13, 2014

FLORIDA’S POPULATION GROWS WITH THE IMPROVING ECONOMY


FLORIDA’S POPULATION GROWS WITH THE IMPROVING ECONOMY

It seems like people are once again flocking to the Sunshine State now that our economy is recovering. In addition to all the New Yorkers that always move here (50,000 per annum!), we have a more diverse international crowd joining them. There are 140,000 more foreign born people here from 2010 – 2013. Florida has seen in net gain in population of 84% from 2012-2013 than in the previous 2 years. It breaks down to about 700 more people moving here a day. In addition, retirees are again moving here in force, from all over the country. Younger American people are being drawn by our beautiful weather, lifestyle and improving economy. Yes, everyone seems to want to live in Florida again. And we still lead the nation in most cash sales for residences, fueled mainly by foreign money seeking a safe haven in the U.S. Then there is the indirect influx of foreign capital flowing here in the form of the EB-5 visa program which is being used to build both commercial and residential projects. That program is based on money from other countries finding investments in the U.S. in exchange for visas. Just the other day we wrote about the Fashion Mall in Plantation, which is owned by the Chinese Government, although not for much longer. But we are seeing more and more money from Asia, especially China, flowing into Florida. And we have not even mentioned South America! Florida is seeing more Brazilians, Cubans, Columbians, Venezuelans, and Nicaraguans than ever before. The turmoil in these countries is causing both people and capital to flee to the safe, sunny shores of Florida. It is all of a sudden becoming a true melting pot in South Florida, something that is very new and welcomed by most. While this element always existed in Miami to some extent, it has certainly spread to Broward and Palm Beach counties in a big way. More and more restaurants, stores, clubs, etc. are emerging all over to meet the demands of this newly transplanted population. It is very exciting and will certainly continue as long as our economy stays strong and vibrant. Everyone is living the dream now! As always thanks for reading and have a great day.


Florida population surging again

Monday, November 10, 2014

PLANTATION FASHION MALL GOES INTO BANKRUPTCY AGAIN


PLANTATION FASHION MALL GOES INTO BANKRUPTCY AGAIN

Here we go again! I promised another update on this when it came around and I am a man of my word. These guys just filed for bankruptcy again, this time Chapter 7. It really seems like the property will finally go to auction, 10 years after it was bought. Why do I care about this property? It interests me for many reasons. It is one of the best locations in Plantation, and will certainly be successful if the right people are in place to redevelop it. It was all set to become apartments, retail and office space and I think that is what will eventually happen to this site. Part of the problems with this site was that it was owned by the Chinese Government. They had the right idea, to buy and develop a site in a prime location but never had the expertise to carry it out. They brought in brokerage companies, their own people, and other partners. But a combination of ineptitude, corruption, lack of trust in American companies and poor judgment finally brought them down. It just shows that having money is not everything, especially when it comes to real estate. Redeveloping a property, especially one of this size with multiple uses is no easy task for anyone, even more so for people from another country and with no experience. This prime site has been on sidelines but should attract an enormous amount of attention when it goes to auction. I can’t wait to see who gets it and what they do with it. This is a very good thing for the city of Plantation! While this is more than likely the end of the story for the property, there still could be legal issues, criminal cases and lawsuits, remaining. If there is any additional news on that I will provide it but let’s all hope this is the last we have heard on this one. Next we will be talking about the new owner and their plans for the property, something I have been looking forward to for a long time. As always thanks for reading and have a great day.

Fashion Mall developer seeks bankruptcy liquidation


Friday, November 7, 2014

GOOD NEWS FOR WEST PALM: EYESORE GOING TO AUCTION


GOOD NEWS FOR WEST PALM: EYESORE GOING TO AUCTION

Well after reluctantly penning 2 negative articles about West Palm (because I thought it was important news to report, not due to any bias! I like keeping things positive), I was really looking for some good news to trumpet. This is just that and then some. It is a real sleeper in my opinion. On the surface, it is just an article about another piece of land that was put in foreclosure long ago, that might be going to auction, removing an eyesore from the area. But under the surface there is much more. First, is the size of the land, 10 acres. That is a good bit of land, and it happens to be waterfront property as well. It is well located, West of downtown West Palm overlooking Clear Lake. Then there is the history, failed plans to convert it into a 12 story luxury condo building that fizzled in 2008. Since the bankruptcy was filled in 2006, the property has sat vacant and steadily deteriorated. I am going to go out on a limb here and predict great things for this land. It will be sold by auction, developed and it will be reborn as a shiny new residential property, hopefully with a marina component. The only downside is how much time it will take to get there, but you can’t have it all. This is excellent news and badly needed. With any luck it will be the first of many stories like this for West Palm, because eventually everyone’s luck must change. It is just the law of averages, everyone has to win sometime and West Palm’s time must be near given all the bad history. I am rooting hard for them, and will be reporting about it all, good or bad. As always thanks for reading and have a great day.  

West Palm Beach eyesore may go to auction


Wednesday, November 5, 2014

ROSEMURGY TO BUILD MORE STUDENT HOUSING BY FAU

ROSEMURGY TO BUILD MORE STUDENT HOUSING BY FAU

Sorry no picture with this article. It is one of the oldest sayings, going back to the well, if it ain’t broke don’t fix it, and other variations of the same message. I think that is fitting when it comes to Rosemurgy Properties and Giles Capital Group. Those are the guys who are building University Park, a 598 student apartment project at 135 N.W. 20th St. It was written about right here, and how the project would be an absolute home run. Perhaps these guys were reading since they just acquired 2 more properties in the area for the same purpose. Boca Sol and Addison Park, currently residential properties, were just bought by Rosemurgy and Giles for $8.7 million. Addison Park is already a student housing property with 165 apartments, and will be renamed University View. Boca Sol, is a 123 apartment building for non-students, is being converted to student housing and dubbed University Square. There will be free bus shuttle service from the properties to both FAU and Palm Beach State College campuses. Rosemurgy says it has $100 million dollars invested in this student housing operation, which unless FAU closes, really can’t fail. Whether or not it is affordable is another question, but finally it seems there will be an adequate stock of student housing. With the amazing growth they have had at FAU, it makes sense to finally have the proper infrastructure in the area to support it. In just the past 2 years we have seen the new football stadium, the Boca Bowl there, and now new student housing. What is next? I can’t wait to find out and promise to let you know when I do. As always thanks for reading and have a great day.

Student housing options increase near FAU

Tuesday, November 4, 2014

PALM BEACH OUTLETS NEW BIG BOXES TO COME AT OKEECHOBEE BLVD EXPENSE


PALM BEACH OUTLETS NEW BIG BOXES TO COME AT OKEECHOBEE BLVD EXPENSE

On the surface this seems like great news. The very successful Palm Beach Outlets, at Palm Beach Lakes Blvd. and I– 95, is growing already. Just 7 months after opening, it was announced that almost 12 new big boxes would be coming to the new project. Those retailers include T.J. Maxx, Ulta Beauty, and DSW Designer Shoe Warehouse along with many others. But 5 of them, Sports Authority, Old Navy, PetSmart, Pier 1 Imports and Bed Bath & Beyond will be relocating from their existing locations on Okeechobee Blvd. This is not good for Okeechobee Blvd. When I moved to South Florida in 2001, Okeechobee Blvd. was the place to go for shopping. It had everything you could need, all on one road, clean, safe and convenient. Okeechobee Blvd. has been going downhill steadily since then, with demographics changing, and retailers either going out of business or leaving the area. But there were still some big boxes there that you just couldn’t find anywhere else so there was still reason to go there. Now that they have left, what is remaining? I am afraid that this could become a new source of blight for West Palm unless some sort of plan to revitalize it is hatched. Sadly, it seems like déjà vu with the creation of City Place, which was supposed to be a great thing for the city but ended up competing against and crippling Clematis Street. There is a lot of work to do in West Palm, and that plate just got even heavier with this news. Given that almost every other city around it has managed to succeed, I am still hopeful they can eventually find their way. As always thanks for reading and have a great day.

Palm Beach Outlets adds big box stores to its mix