Thursday, December 18, 2014

RESIDENTIAL FINALLY COMING TO ROYAL PALM PLACE?


RESIDENTIAL FINALLY COMING TO ROYAL PALM PLACE?

Now is certainly the time to revive old development or redevelopment projects that got shelved due to the recession. Even more so if it is a residential project. So it shouldn’t be a surprise to learn that the prospect of residential units at Royal Palm Place is alive and well once again. This was approved in 2003 for 149 units and 10 stories. But this time it is even bigger and more dense than before, at 200 units and 13 stories. It will be at least 140 feet high, which is 40 feet higher than the city limit of 100 feet. This adds to 4 other projects that are over the limit that have already been approved: Via Mizner, The Mark At Cityscape, 20 East Boca Raton Rd., and the Hyatt Place Hotel Boca Raton. All of these projects have 2 things in common. One is the residential component and the other is the fact that they will be transforming the skyline of Boca Raton. If you have ever flown into Florida it is impossible to miss the rows and rows of high rise residential buildings along the water in Miami. Is that where Boca Raton ends up? It will depend on how many more of these projects are allowed and where they are allowed. Is it is a bad thing to grow so much and so quickly as a city? The concern mentioned is always “quality of life”, which is ambiguous to say the least. Traffic is my only concern and that can be managed if done properly. I think little old Boca is finally growing up and looks more promising than ever. What do you think? As always thanks for reading and have a great day.

New proposal would add to Boca's downtown skyline

Tuesday, December 16, 2014

FLORIDA’S SENIORS BY THE NUMBERS


FLORIDA’S SENIORS BY THE NUMBERS

While sometimes it seems like Florida is getting younger and more international, and it is, there is still a huge and growing number of seniors here. While you probably already know this, I think the numbers might surprise you. They surprised me. I am going to rattle off some good ones: Florida is the number 1 destination in the U.S. for seniors, with 112,000 moving to Florida from other states in 2013. Palm Beach County is one of twelve counties in the U.S. to have 250,000 residents who are 65 or older. 1 in 20 Floridians is 80 or older, which is 1 million people out of almost 19 million. By 2030 the Florida senior population will double to almost 10 million. These people vote, drive, pay taxes and are a big economic force. Plus regardless of their age, they must feel like they get younger just by coming here because there are always older people than them. In Florida being 70 or 80 is like being 60 somewhere else. It is like Jay Z said, 30 is the new 20 but times 2 or 3 here. And they are a look at the future, where we will all go if we should live long enough. When I first moved to Florida I thought that the seniors were both dangerous (driving) and maddening (ever wait in a line behind one?). But once the recession hit in 2008 I realized how important they were to the economy and how helpful they can be. Could there be an election without them? Both voting and manning the voting locations? How many of them are unofficial caretakers of children here? Yes typically those are their grandchildren but without them how would the parents work who cannot afford childcare? Yes the elderly fill many roles here and there is so much more they can do. And with retirement becoming a thing of the past, they will. Seniors here are more active and busy than seniors anywhere else in the country I bet. Partly due to the weather and lifestyle but also the amount of opportunities here. Have you ever seen an elderly person working at a supermarket anywhere else in the country? And most are doing so because they want to, not because they need the money. For us younger Floridians it is just another reason to never leave. I guess you can tell that I love Florida! As always thanks for reading and have a great day.

Florida can’t care for all of its frailest seniors
Yet the elderly are still pouring into Florida — far outpacing other states

Friday, December 12, 2014

SOUTHWEST AIRLINES EAGERLY EXPANDING AT FT. LAUDERDALE AIRPORT


SOUTHWEST AIRLINES EAGERLY EXPANDING AT FT. LAUDERDALE AIRPORT

Once the Ft. Lauderdale Airport renovations and expansions are complete in 2017, Southwest Airlines will be able to expand with new domestic and international flights. Already the number 2 airline carrier there with 18.5% of traffic through August of this year, Southwest is eyeing new international flights. While they haven’t announced any specific international routes yet, they are currently travelling to Cancun and Los Cabos, Mexico; Montego Bay, Jamaica; San Jose, Costa Rica from other East Coast airports. It is reported that Southwest is looking to add at least 25 daily international flights to South America and the Caribbean. Given the new added international South American routes by Ft. Lauderdale Airport competitors JetBlue and Spirit Airlines, it is clear there is a lot of growth in this area to be had. Southwest has also identified a growing need between Texas (Southwest’s current hub is here at Dallas Love Field) and Ft. Lauderdale, and just started 2 flights per day between these areas. As South Florida’s economy improves and the international economy continues to struggle, we have become an even more attractive destination for our international neighbors to the South. I am sure that Southwest is thinking that if Spirit Airlines is having success with these routes now Southwest should be able to do even more business there since they have far superior service (among other things). This is not good news for Spirit indeed. But more competition is good for consumers and we Floridians will benefit from all the increased routes by seeing lower prices and more destination options. Not just from lower prices from competition but also from the now standard lower fuel prices. I have always wanted to visit South America and soon it will be easy and relatively inexpensive to do so from Ft. Lauderdale. And wait until you see what the airport is going to look like when the work is complete, it is going to be something to behold. As always, thanks for reading and have a great day.  

Southwest Airlines plans growth at Fort Lauderdale-Hollywood airport

Wednesday, December 10, 2014

SAWGRASS MILLS MALL EXPANDING YET AGAIN


SAWGRASS MILLS MALL EXPANDING YET AGAIN

If there was a fairy who could make a mall that would never lose money, appeal to everyone, and expand indefinitely, I think they would make the Sawgrass Mills Mall. It is considered to be the 2nd most visited tourist destination in Florida. This is really incredible in a state known for Disney, beaches and the Everglades. And they don’t even have any entertainment there like the newer malls do. No, people go to Sawgrass Mills to “power” shop, which means straight shopping. This time they are adding 30 new tenants (on top of the existing 350), a combination of stores and restaurants. The new space will total 80,000 square feet and be in the Colonnade Outlets area, which is geared toward luxury shoppers. It is expected to be completed in 2016. That an outlet mall would appeal to the masses makes plenty of sense but I don’t think anyone imagined the incredible success of the luxury area. There is a waiting list of tenants who want to be in the Sawgrass Mills Mall and I think that as long as the land is available they could continue expanding successfully forever. One area of success that is growing rapidly is the appeal to the South American shopper, which was already very strong. Travel agents report scheduling entire trips around the mall visits. Every South American finds that they can buy any kind of product here for far less than they can at home. This has boosted sales at the travel stores at the Mall since many of these people must buy more luggage to accommodate their purchases. The added international flights from South America lately have only made it easier for them to come and shop here. But there is really something for everyone here, for example, I even go there on occasion. I am really the anti-shopper, don’t enjoy it at all. But when I need something that is somewhat pricey, from anything from shoes to suits, that is where I go to buy them. There is a great selection of quality stuff at super low prices. Congrats to the mall, for both their new expansion and the great job they do out there in Sunrise. As always thanks for reading and have a great day.

Sawgrass Mills to add 30 shops and restaurants

Monday, December 8, 2014

CORAL SPRINGS ALSO TRYING TO CREATE DOWNTOWN


CORAL SPRINGS ALSO TRYING TO CREATE DOWNTOWN

It is just sheer coincidence that this article appeared within weeks of the one about Coconut Creek and their downtown hopes. Clearly it is a good time out there to get moving on long planned downtowns for some cities. Another one of those is Coral Springs, who has been working on their downtown plan for 20 years. They think they have finally found the correct formula: a hotel, a movie theater, a garage and lots of apartments at the intersection of Sample Rd. and University Drive. Not surprisingly, the company behind the new development is Amera Urban Developers, who built or owns the properties at the center of the plan. I got a small twinge of pride when they mentioned that they were modeling their movie theater after the iPic Theater in Boca Raton, with the same amenities such as reclining chairs, blankets and pillows, and ordering food and drink from your seats. They plan for “high end” rental apartments on each of the 4 corners of the intersection of Sample Rd. and University Drive. The city would build a multi-story garage, which would cost millions but could help spur development. It is an ambitious plan for sure, and I really hope it works for them. But a lot of things don’t add up, and I hope that they closely examine them before finalizing the plans. The words “high end” and Coral Springs do not go together in any way at this point, what is going to change to make this appealing to this new demographic? Coral Springs is known for young parents who come for the quality public schools and they move from the city when their kids get older. One of the goals is to keep them in the city, while also attracting older adults. While they are trying to create an urban feeling with the plan, I don’t think anyone is ever going to confuse Coral Springs for Miami or Delray Beach. I wish them the best with it and will report on any new information about the project. As always thanks for reading and have a great day.

Coral Springs downtown closer to gaining traction


Thursday, December 4, 2014

JEFF GREENE IS AT IT AGAIN, BETTING HEAVILY ON WEST PALM BEACH


JEFF GREENE IS AT IT AGAIN, BETTING HEAVILY ON WEST PALM BEACH

There are 2 interesting things in this article, both dealing with West Palm Beach. It is a very natural 2 for 1 blog, First we have Jeff Greene, buying more property in West Palm Beach to be developed into residential units. This time he has bought the 1.8 acre former Mazda site at 2001 S. Dixie Highway for $1.9 million. While he has officially said he is not sure what the use will be here, everything he has done in the past and the market dictate it will be residential product built here. He is very focused now (speaking of his past) on Clematis Place, a 200 unit residential and mixed use property between Datura Street and Rosemary Avenue. There will be 2 buildings built here, one 5 stories and the other 12 with a bridge connecting the two. If people ever start moving to West Palm Beach this guy is going to make out like a bandit. Seems like he owns half of it too. Now onto the 2nd article, regarding another restaurant closure at CityPlace. This time it is Pampas Churrascaria Brazilian Grille, who occupied 10,000 SF on the 2nd floor where the majority of the restaurants are located. This is the 2nd restaurant this company has closed at CityPlace this year, the first being Deck’s Fish Market. This virtually assures that this space will be vacant for the Winter season, which is a shame. While not original, I think that CityPlace should put a big carrousel in the middle of it to draw kids and families like they did at Downtown At The Gardens. They have to try something new to breathe some life into this project and stop the never ending parade of tenants from coming and going. Hopefully it will happen soon and the opening of the convention hotel across the street will help, but it is not going to solve all the problems there. The question is, what will? As always thanks for reading and have a great day.

Palm Beach billionaire now dealing in Dixie (Highway, that is)

Tuesday, December 2, 2014

CAN COCONUT CREEK CREATE A DOWNTOWN? THEY HAVE A PLAN

CAN COCONUT CREEK CREATE A DOWNTOWN? THEY HAVE A PLAN

I have always been fascinated by all the different cities within Palm Beach and Broward Counties. I have gotten to know almost all of them through my work representing landlords and tenants. It always amazed me how one city could thrive while the neighbor could struggle and they be so different despite being next to each other. Well with all this newfound prosperity and development taking place in South Florida now, Coconut Creek has come up with an ambitious plan to create a downtown area. One where people could walk to work, shop, dine, etc. The city set aside 430 acres of land between Lyons Rd., Wiles Rd., Sample Rd. and State Rd. 7 and dubbed it Mainstreet. This actually took place in 2004 and since then the city has made progress on their plan. The lifestyle center The Promenade at Coconut Creek was built, and the Seminole Casino has been improved. A hotel was built. Now there are some major projects coming online that could accelerate the Mainstreet plan. The Midtown Residences, to be built on 441 between Lyons and Sample Rds., will feature 308 residential units in 7 buildings. The long stalled and 19 acre Village at Marbella is about to be developed. That will feature 764 residential units, a 10 story hotel and 300,000 square feet of retail and office space. It is exciting to see the city being transformed and I wish them the best with it moving forward. With all the new interest in residential development I think their time is now. Especially if they could build some affordable housing, which is getting tougher and tougher to find. As always thanks for reading and have a great day.

Coconut Creek's MainStreet moving forward