Palm Beach International Boat Show!

I have never been to a boat show before. But since I blogged about the Miami show and the serious economic impact it has statewide this article caught my interest. There weren’t any figures on the past performances of these Palm Beach shows but I did a little Googling and found a little info. It said that this was one of the top 5 boat shows in the US, featuring “$1.2 billion dollars worth of yachts and accessories from the world’s leading marine manufacturers.” It is a four day event and this year it is even larger than before, expanding further South on Flagler Drive. So that tells you that it has been very successful and is getting more so. I couldn’t find more than that. I once heard a very funny saying that I don’t think I will ever forget that was “if it flies, floats or _____ (a vulgar term that starts with an F) rent it! So who are all these people buying boats? 

I remember when things went badly in 2008 that the County actually ran out of storage space for all the repossessed boats. It seems like when people are strapped for cash one of the first things they give up is their boat. Obviously much has changed since then, and these shows are making some serious bank now. Perhaps the first step to attending a boat show is to think about one, although I am doing so strictly from an economic impact perspective. I have many problems so the last thing I need is a boat. But if you are looking for one just head on up to West Palm Beach (yes that is where the Palm Beach show is always held) and plunk down $18 for an adult ticket. Please let me know how it is, I am very curious but even more so about how much money our region/state earns from it. As always thanks for reading and have a great day.

It's curtain time for 29th Palm Beach boat show

http://www.sun-sentinel.com/business/fl-palm-beach-boat-show-preview-20140319,0,379534.story

Orin Rosenfeld

President

Rosenfeld Realty Advisors

9858 Glades Rd. Suite 209

Boca Raton, FL 33434

Phone: 561-756-1665

Fax: 561-470-0707

Web: www.rosenfeldrealtyadvisors.com

FT. LAUDERDALE RANKED 7TH BEST DOWNTOWN IN U.S.

While you have heard me singing the praises of Ft. Lauderdale and their impressive mayor Jack Seiler, here is finally some well deserved national recognition. A company called Livability.com, based in Tennessee, puts out a Top 10 Best Downtowns in the U.S. list every year. They rank the best small and mid sized cities to visit, work and live in. For the first time Ft. Lauderdale made this list, debuting at number 7. Just who is Livability.com? I have never heard of them but I like them already with their smart praise of Ft. Lauderdale. They did say how these downtowns were evaluated, some of the factors mentioned were “maintain a high level of energy and give all city residents a reason to come in,” other factors cited were retail improvements, office vacancy rates, income growth and ratio of residents to jobs. We have already written about the improvements on the way to Las Olas Blvd. in this blog. 

Now we are told that there are another 4,000 residential units on the way, which will further enhance the area. I have already pegged this place as one of 2 options for my personal move in the next 10 years or so (the other option is Delray Beach). It has a great quality of life and the walkability factor, plus good restaurants. It is a very cosmopolitan city without the crime, traffic and Latin flavor of Miami. Things are going well there now and with Jack Seiler at the helm it seems like things will get even better in the future. The full list of the Top 10 is listed below, in case you weren’t going to bother to follow the link to the article. The fact that Provo Utah is at number 4, 3 spots better than Ft. Lauderdale is highly suspect unless you are a Mormon. While I have never been to Provo, I have been to Utah and just based on weather alone I think Ft. Lauderdale should be ranked higher but it is true that I am highly biased. And dead set against cold climates, which I have left behind hopefully forever. So take this list for what you will, but at least one of the cities in Florida made this list and that is not a bad thing. As always thanks for reading and have a great day.

Top 10 Best Downtowns, 2014

1.Fort Worth, TX

2.Providence, RI

3.Indianapolis, IN

4.Provo, UT

5.Alexandria, VA

6.Frederick, MD

7.Fort Lauderdale, FL

8.Bellingham, WA

9.Eugene, OR

10.Birmingham, AL

Source: Livability.com

Downtown Fort Lauderdale listed among top 10 downtowns

http://www.sun-sentinel.com/business/fl-ft-lauderdale-top-10-downtowns-20140318,0,7834506.story

Orin Rosenfeld

President

Rosenfeld Realty Advisors

9858 Glades Rd. Suite 209

Boca Raton, FL 33434

Phone: 561-756-1665

Fax: 561-470-0707

Web: www.rosenfeldrealtyadvisors.com

South Florida Economy Boom continues Another HQ Moving to South Florida

This time it is Stemtech International coming to Pembroke Pines from San Clemente California, and bringing 90 jobs along with it. While not detailed, you can only imagine the tax savings the company must have realized with the move. It is exactly the kind of company we want here, health care and technology (they are a stem cell nutrition company in the Business Journals and nutritional supplements in the Sun Sentinel). What they do exactly is develop products from an unnamed freshwater plant which results in supporting the release of adult stem cells from bone marrow. The company was started in 2005 and last year made Inc. Magazine’s list of the 5,000 fastest growing companies in America. So clearly they are growing, and the future looks bright. The company has global growth aspirations and one of the reasons the moved here was to be able to attract “the very highest quality employees moving forward,” said Ray Carter Jr, the President and CEO. The mayor of Pembroke Pines acknowledged that landing Stemtech was part of “our commitment to support new and expanding target business enterprises with high value jobs and capital investment.” 

You really have to congratulate them on this jobs victory, and really on their City in general. My cousins live there and I have seen the evolution of Pembroke Pines since I got here in 2001. The growth of the City has been nothing short of amazing, with every major retailer and chain restaurant claiming a location there. It remains one of the most sought after locations for retailers in South Florida and the City seems to have managed the growth seamlessly. West Boca Raton could certainly learn and apply some of these lessons to their growth going forward, among other cities I am sure. One of the things that makes PP so attractive is the easy access to I-75, which leads you to all roads. It really completes the picture, allowing its residents easy commutes to either Dade or Palm Beach Counties. I would consider it for a future place to live but it is missing the one thing I am looking for which is the walkability factor. It might be the only thing missing from Pembroke Pines these days. As always thanks for reading and have a great day.

Stem cell nutrition company relocates to Broward County, brings 90 jobs

http://www.bizjournals.com/southflorida/news/2014/03/17/stem-cell-nutrition-company-relocates-to-broward.html

Orin Rosenfeld

President

Rosenfeld Realty Advisors

9858 Glades Rd. Suite 209

Boca Raton, FL 33434

Phone: 561-756-1665

Fax: 561-470-0707

Web: www.rosenfeldrealtyadvisors.com

FINALLY DONE ON FLOOD INSURANCE??

Well it sure looks like we can finally put this one to bed, except that it hasn’t been signed by President Obama yet. It is sort of a strange place, when things have been approved in the House and the Senate and then go to the final place before they can become law: Obama’s desk for his signature. How long does it take him to sign these things? I am pretty sure that this one has been there for more than 1 week. Are there others there also waiting to be signed? Is there a signing schedule somewhere so the rest of us have some idea as to whether or not it will get done? Now they say his “supporters” expect that he will sign it, but why hasn’t he done it yet? I understand that he is busy, and is not always at his desk but really how long do these things take to accomplish? Everyone is talking about this like a done deal and even commenting on it but it is not officially done just yet. You can see by many of the comments from Senators that the prevailing view for them on this issue was that this was a tax break to very wealthy people. And in truth yes plenty of them will benefit from it but they will not be the only ones. There are plenty (exactly how many I don’t know but there must be a lot right?) of regular people, lower to middle class, that will be rescued by it. And so we step ever closer to real insurance reform here, and get off the pinnacle of insurance premium pricing. Sometimes I wonder if we are being punished here with this in return for our outstanding weather and quality of life. Regardless, the only way to go from the top is down and I think we might be making some progress getting there, provided that Obama gets to all the stuff waiting for him on his desk. This is not going to help his approval ratings any, especially in Florida.

Bill to limit flood insurance rate hikes headed to president

http://www.mcclatchydc.com/2014/03/13/221183/bill-to-limit-flood-insurance.html

LUXURY CONDOS TO BE BUILT IN BOCA WEST

The market is really coming back! This is a strong sign, although it makes sense for many reasons. The 7 acre plot of land where the luxury condos are to be built was originally put on the market back in 2007. But the recession prevented financing from being obtained and so it has sat dormant until now, when Richard Siemens put it under contract. He is planning to build a 120 unit luxury residential condo development there called Akoya at Boca West. The apartments are going to be priced at $1.25 - $2 million but it didn’t say how large they would be. Residents will be required to pay a one-time fee of $70,000 for a social membership to Boca West. Construction would start this September and completion is expected in 2016. This would be the first time in more than 20 years that any new development has been built in Boca West, which is a massive community of 3,400 homes on 2,000 acres of land. It spans the entire block between Yamato and Glades Rds., featuring 6 restaurants, 4 golf courses, 33 tennis courts and a 38,000 SF spa. The new project would allow residents to walk to these many amenities and it is right next to the Turnpike to boot. The supposed risk on the project is the fact that there are no ocean views and we will see shortly if this is a true concern as they are in the pre-sale stage at this point. If all goes well Siemens will close on the land and the project will move forward. I think it will, as there has been no trouble selling highly priced homes out in West Boca. True that these are single family homes, but this would be new product with lots of amenities that is ideal for elderly retirees who would probably prefer an apartment. If it all works out I wonder if someone will finally build some residential towers in Glades Plaza? It would be the best thing that could happen to the middle of that project that no one can find and where retailers cannot survive. There is a lot riding on the Akoya at Boca West, which I think will be a success in spite of its name.  

Luxury 120-unit condo project planned for Boca West Country Club

http://articles.sun-sentinel.com/2014-03-16/business/fl-akoya-boca-west-20140316_1_boca-west-country-club-condo-lewis-goodkin

Orin Rosenfeld

President

Rosenfeld Realty Advisors

9858 Glades Rd. Suite 209

Boca Raton, FL 33434

Phone: 561-756-1665

Fax: 561-470-0707

Web: www.rosenfeldrealtyadvisors.com

THE REBIRTH OF RIVIERA BEACH BEGINS APRIL 10TH

This one really came out of nowhere! I guess that is how some of the best news arrives sometimes, and that is certainly the case for Riviera Beach. Just a month or 2 ago we blogged about how Riviera Beach held a bulk auction of many blighted homes. It seemed like good progress for a city that has really struggled over the years with everything from crime to corruption. But finally, someone is ready to invest a lot of money to completely change the City. That guy is Bob Healey (along with his brother Bill) and the amount is $336 million. He is the owner of Viking Developers LLC and Viking Yachts. They, along with the City, plan on redeveloping the marina, renovating Bicentennial Park ($4 million for that alone!), adding an event center, farmer’s green market, retail, residential and office space. This will all happen in phases, in a public private partnership with the City. The first $30 million dollar phase starts April 10^th. They are trying to create a village like atmosphere that can be built upon in the later stages. The first phase will include the event center, which will seat 300 people, a full service restaurant, a café and rooftop terrace to the event center and the renovation of Bicentennial Park. This will be extensive and include a covered area for a stage, concession area and an interactive fountain. Everything else will be built in later stages. While this will not transform the City overnight it is a hell of a start. It is true that there is only so much waterfront property out there and there is no reason why this can’t eventually be successful. With all the suffering Riviera Beach has endured, they deserve this and I really hope they get it. Everything seems lined up perfectly and they have money and a good plan in place. If this happens it will put even more pressure on West Palm Beach, who would be the only city in the region struggling.

Viking Developers gearing up to create Riviera Beach waterfront marina village

http://www.mypalmbeachpost.com/news/business/viking-developers-gearing-up-to-create-waterfront-/nfDHK/?icmp=pbp_internallink_invitationbox_apr2013_pbpstubtomypbp_launch

Orin Rosenfeld

President

Rosenfeld Realty Advisors

9858 Glades Rd. Suite 209

Boca Raton, FL 33434

Phone: 561-756-1665

Fax: 561-470-0707

Web: www.rosenfeldrealtyadvisors.com

NATURAL GAS BREAKTHROUGH BY SCRIPPS

OK this might the huge game changing discovery we have been waiting for, some sort of return on the multi-million dollar ($600 million to be exact!) investment that Palm Beach County made in biotechnology with The Scripps Institute in the North part of the County in 2009. A scientist named Roy Periana, who is the head of the Scripps Energy Materials Center in Jupiter, has discovered a more efficient way to make natural gas into fuel. This would lead to lower prices for energy and immediate improvement for the environment with cleaner emissions. Long term, this could have a serious global impact. For starters, in the US this could lead to the abandonment of fossil fuels for natural gas, something we now have more than anyone else in the world thanks to new mining techniques called shale mining. Right now Russia supplies most of Europe with natural gas. With their actions in the Ukraine, Europe is looking for new suppliers of energy especially natural gas. So the potential for this discovery in Florida is truly global and really might lower energy prices, provide cleaner burning fuel and become an export boon for the US. In the US we are already in the process of converting oil based electric utility to natural gas, and it seems like this will continue to increase and is inevitable. But this is not a done deal yet, there is still some work to do. The process to covert natural gas to fuel requires heating to very high temperatures, and building facilities that can do this is expensive. That is 70% of the cost right there, but this new discovery allows for the natural gas to be converted to gas without high temperatures. The next step is for Scripps to create a new company or joint venture with an energy company to continue the studies. The cost of which is estimated at $2 - $3 million per year and would need 3 years. While there is a chance that this could happen here in Florida, there is no guaranty. So we will certainly keep our eyes on this one, as it could be the biggest invention in Florida since IBM discovered the personal computer in Boca Raton in the 70’s. Very exciting stuff, and with so much potential in so many ways.

Natural-gas breakthrough could lead to cheaper fuel

http://www.sun-sentinel.com/news/palm-beach/fl-scripps-fuel-discovery-20140314,0,6421523.story

Orin Rosenfeld

President

Rosenfeld Realty Advisors

9858 Glades Rd. Suite 209

Boca Raton, FL 33434

Phone: 561-756-1665

Fax: 561-470-0707

Web: www.rosenfeldrealtyadvisors.com