SOUTH FLORIDA NEWS

Strategic Rezoning of Casino could be Key for Revitalizing West Palm Beach Real Estate

If approved, the planned relocation of the casino at the Palm Beach Kennel Club could set the stage for one of the most significant redevelopment projects in West Palm Beach. With 42.1 acres of prime land slated for transformation, this move is not just about realigning operations but also unlocking vast potential for economic growth and community enhancement.

The History Behind the Property

Situated at 1111 N. Congress Ave., the Palm Beach Kennel Club has a history dating back to 1932. Initially established as a greyhound racetrack, the property has evolved over the decades, with its casino operations continuing even after the state banned greyhound racing in 2020. While the casino has remained active under a pari-mutuel license, much of…

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The Challenges Facing Boca Raton Luxury Real Estate Development

The demand for luxury real estate in Boca Raton has never been higher, but many developers are stepping back from new projects. Rising costs, lengthy construction timelines, and changing buyer priorities have led to a slowdown in the creation of new luxury homes. Here’s a look at what’s driving this trend and how it’s impacting the Boca Real Estate Market.

Rising Land Costs in the Boca Raton Real Estate Market

One of the biggest challenges for developers is the soaring cost of land. Across South Florida, property prices have risen dramatically. For instance, a Coral Gables lot that cost $4 million in 2021 could now fetch $7 to $8 million. This mirrors trends in Boca Raton, where limited inventory and high demand have pushed land prices to…

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Grover Corlew’s Strategic Investment in Pompano Beach Real Estate

Grover Corlew, a prominent Boca Raton-based developer, has successfully secured a $114.4 million refinancing package for its newly completed Mayla Pompano complex in Pompano Beach. This deal not only underscores the resilience of South Florida's real estate market amidst elevated interest rates but also highlights the growing appeal of luxury rental communities in the region.

Transforming Pompano Beach with Luxury Living

The Mayla Pompano complex, located at 11 Northeast 24th Avenue, comprises 355 residential units across two eight-story buildings. These modern residences range from studios to three-bedroom apartments, offering floor plans between 548 and 1,383 square feet. Monthly rents start at $2,115 and go up to $4,500, reflecting the…

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What the Via Mizner Foreclosure Means for Real Estate in Boca Raton

Recently, news dropped about a $5.7 million foreclosure lawsuit that was filed for a property at 375 E. Royal Palm Road in Boca Raton. This lawsuit, which was actually filed on November 18, 2024, by Precedent Asset Management-4C LLC, highlights the challenges facing property owners in South Florida. Now, another major property in Boca Raton, the 101 Via Mizner apartment building, is at risk of foreclosure.

This situation shows how the Boca Raton real estate market could be changing, with some developers struggling to keep up with loans and rising costs. Let’s dive into what’s happening at Via Mizner and what it could mean for Boca Raton real estate.

What Is Via Mizner?

Via Mizner is a luxury 14-story apartment building with 366 units, located…

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Explore Millionaires’ Mile Florida With the Best Realtor in Hillsboro Beach

Located between Boca Raton and Pompano Beach, Hillsboro Beach, FL, offers exclusive coastal luxury. This hidden gem, often overlooked amid South Florida’s more popular urban areas, is a coveted destination for those seeking luxury, tranquility, and waterfront living. Affectionately known as the Millionaires’ Mile, Hillsboro Beach is a narrow strip of land sandwiched between the Atlantic Ocean and the Hillsboro River, delivering an experience that showcases upscale Florida living.

Millionaires’ Mile: A Jewel of Hillsboro Beach Real Estate

A stretch of just over three miles along State Road A1A, the Millionaires’ Mile is a neighborhood of luxury homes, modern condominiums, and lavish mansions. These one-of-a-kind properties, surrounded by…

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Boca Raton Real Estate: Details On A Development Site Foreclosure Lawsuit

News about the Boca Raton real estate market has been making waves recently due to a significant legal development involving a local developer. Mark A. Gensheimer, the President and CEO of Penn-Florida Cos., is at the center of a $5.7 million foreclosure lawsuit over a prime property located at 375 E. Royal Palm Road in the heart of Boca Raton. The lawsuit, filed on November 18, 2024, by Precedent Asset Management-4C LLC, highlights the challenges in the Boca Raton real estate market and the complex nature of development financing in South Florida.

Details of the Lawsuit and Foreclosure Complaint

The foreclosure lawsuit targets a 1.02-acre site in Boca Raton, a location that had once been earmarked for a large-scale development. According to…

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$307 million construction loan for Luxury Homes at Rosewood Residences in Hillsboro Beach

The Rosewood Residences in Hillsboro Beach stand as a new benchmark for luxury homes in South Florida. Developed by Related Group and Dezer Development, this extraordinary project spans from the Atlantic Ocean to the Intracoastal Waterway. With a $307 million construction loan secured from Apollo Global Management, the vision for this ultra-luxury community is now taking shape. The development sits on 11.8 acres within the prestigious Millionaire’s Mile, renowned for its collection of the most exclusive properties in Broward County.

Oceanfront Living Information for Real Estate Agents in Hillsboro Beach

The oceanfront section of the Rosewood Residences spans 5.1 acres and includes a 10-story tower featuring 70 meticulously designed homes.…

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DiVosta to Bring Luxury Homes to Wellington with $12 Million Land Acquisition

PulteGroup’s DiVosta Secures Prime Real Estate in Wellington

In a significant move, DiVosta, the luxury home division of PulteGroup, acquired 22.5 acres of prime real estate in Wellington for $11.72 million from the Diocese of Palm Beach. Located just south of the Therese De Lisieux Catholic Church at 11800 Lake Worth Road, this acquisition will pave the way for an exclusive gated estate community, aptly named Canter.

The Diocese retains ownership of 16.4 acres, maintaining its religious facilities. DiVosta, known for its expertise in luxury construction, is poised to deliver a high-end community that redefines estate living in Wellington, making it a focal point for top real estate agents in Wellington and beyond.

A Gated Community with…

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New "Villas on 5th" Community: Insights from the Best Realtor in Boca Raton

New "Villas on 5th" Community: Insights from the Best Realtor in Boca Raton

Boca Raton is undergoing a significant transformation with the approval of a new development that promises to bring 120 villa-style townhomes to one of the city's last undeveloped plots of land. The development, known as the Villas on 5th, is set to rise at 2600 NW Fifth Avenue, an 8-acre parcel of land located near Florida Atlantic University (FAU) and JC Mitchell Elementary School. The community will feature 22 three-story buildings and a host of amenities that will contribute to the vibrant and growing Boca Raton real estate market.

This new construction in Boca Raton will cater to the demand for quality housing while addressing some of the challenges posed by the…

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Discover why Pompano Beach is poised to become a top Florida city for real estate investments

If you’re considering moving to Florida, whether to relocate for career opportunities or adjust your retirement plans, the state offers numerous cities that are attracting homebuyers and investors alike. Among them, Pompano Beach stands out as an exciting opportunity for those interested in the South Florida real estate market. Known for its beautiful beaches and a more relaxed pace of life, Pompano Beach is increasingly becoming a hotspot for luxury real estate buyers and investors.

Located about 40 miles north of Miami, Pompano Beach provides all the perks of a beach town lifestyle without the overwhelming cost of living that many other South Florida cities face. Whether you are looking for a second home, property investment opportunities, or a…

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