SOUTH FLORIDA NEWS - March, 2025

Larry Mastropieri Named One of Florida's Top Real Estate Professionals for 2025

The Mastropieri Group is pleased to report that its Owner and Broker, Larry Mastropieri, was ranked among "Florida's Top Real Estate Professionals 2025" by Statista in a widely anticipated release published in Newsweek. This achievement places Larry in the elite group of professionals in the state, having excelled in Palm Beach County's high-profile real estate market.

Why Larry Mastropieri is a Top-Ranked Palm Beach County Realtor in 2025

The award is based on a critical analysis of Florida real estate agents from Multiple Listing Service (MLS) data. Statista, one of the leading market analytics companies, ranked the agents on four performance factors from 2021 to 2024:

• Revenue (30%): Total revenue of residential sales

• Sales…

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Big Changes in South Florida’s Housing Market—Are You Ready?

If you're feeling frustrated by the high home prices and fierce competition, you're not alone. For years now, buyers have been bidding against each other, having very few choices, and at terribly high prices. Sellers, on the other hand, are wondering whether they missed the peak of the market. On the brighter side, the change in the South Florida housing market may finally kick things back in your favor.

More Homes, More Opportunities for Buyers

For years, it probably felt impossible to find the right home without overpaying. Now, things are changing. The number of available homes in both Broward and Palm Beach counties has jumped significantly from January 2024 to January 2025:

• Broward County: Single-family home listings rose 36% (from…

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Is One Italian Festival a Year Not Enough? Wellington Has You Covered.

If you've ever felt like waiting a whole year for an Italian festival in Palm Beach County is just too long, you're not alone. Sure, the Feast of Little Italy in Jupiter is a staple every November, but what about the rest of the year? The craving for authentic Italian food, live music, and cultural celebrations doesn’t just disappear.

Good news, Wellington is stepping up. This March, you won’t have to wait until fall to indulge in all things Italian. The first-ever Galbani Festa Italiana of Wellington is happening March 29-30 at the Wellington Amphitheater, bringing you a full weekend of Italian flavors, music, and tradition.

What to Expect

If you've ever left an Italian festival thinking, I wish I could eat like this all the time, you're in…

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Palm Beach County Proposes $12 Million for Affordable Housing Projects

Palm Beach County is considering a significant investment in affordable housing by allocating $12.1 million to support three key developments. These projects aim to create 145 affordable apartments to assist low-income residents, veterans, and workforce housing needs. The proposals will go before the County Commission today, March 11 as part of the county’s workforce housing initiative, which provides essential funding to make affordable housing viable.

Affordable Housing Projects in Palm Beach County

One North Lake: $4.65 Million Investment

The largest portion of the proposed funding, $4.65 million, would go to One North Lake LLC through a 40-year loan at 1% interest via the county’s Housing Initiative Program. The project, a joint venture…

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Government Campus Redevelopment Partnership Moves Forward in Boca Raton

February 11, 2025, City Council, the government of Boca Raton made a historic move towards revamping the city's Government Campus by officially designating Terra & Frisbie Group as the official Government Campus Master Plan partner. This selection is the result of a competitive bidding process that is aggressive and designed to identify the most capable team to redevelop the campus as a thriving civic and mixed-use destination. Public facilities and services tailored to accommodate the evolving requirements of the community will be incorporated in the redevelopment.

Future Phases in the Redevelopment Process

The joint venture between Boca Raton and Terra & Frisbie Group will proceed under a formal staged sequence:

• Interim Agreement: The…

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Cleveland Clinic Plans New Hospital in West Palm Beach with $500 Million Fundraising Goal

Cleveland Clinic, the global leader in heart care and academic medicine, today announced its intentions to construct a state-of-the-art hospital in West Palm Beach. The initiative, supported by a $500 million fund-raising campaign, is tailored to increase medical care for the people of Palm Beach County.

The announcement was made during the Palm Beach Ball, an annual fund-raising event for the benefit of Cleveland Clinic's growth and medical programming in South Florida. The expansion is a testament to the organization's determination to bring high-quality healthcare to more people across the region.

A Vision for Advanced Medical Care

Cleveland Clinic has been a trusted health care provider in Palm Beach County for decades, and the organization…

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Townhouse Growth Surges in Broward County as Land Becomes Scarce

A major townhouse development is coming to Lauderhill, transforming a former golf course into a 650-home community. As land availability continues to shrink and costs rise, townhouses are becoming the go-to choice for developers and homebuyers in South Florida.

Townhouse Construction Outpacing Single-Family Homes

A recent report by the National Association of Home Builders (NAHB) indicates a significant shift in the trend of house construction. Townhouse building increased by 10% in 2024, overtaking single-family home construction. Nationally, 174,000 townhomes were built last year, compared to 158,000 in 2023.

Broward County is emulating this trend, as nearly half of the new single-family homes constructed in 2024 were townhomes. Figures from…

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Boca Raton’s Inaugural Seafood Festival Promises a Feast of Flavors and Fun

Seafood lovers, mark your calendars! The City of Boca Raton is hosting its first-ever Seafood Festival on Saturday, March 22, from 12 p.m. to 6 p.m. at the Mizner Park Amphitheater (590 Plaza Real). This highly anticipated event will bring together some of Boca Raton’s top chefs, a variety of delicious seafood offerings, live music, and family-friendly activities.

Tickets & Event Information

• Advance Tickets: $10 online at MyBoca.us/SeafoodFest

• Day-of Tickets: $15 at the gate

Festival Highlights

Live Music at the Seafood Stage

Enjoy an exciting lineup of live performances by The Holidazed, Vern Daysel and the Burning Breeze, and UnRavelas they provide the perfect soundtrack for a day filled with coastal fun.

…

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South Florida Leads the Nation in All-Cash Home Sales in 2024

South Florida remains one of the most competitive real estate markets in the country, attracting a high number of cash buyers. A new study by real estate brokerage firm Redfin reveals that the metropolitan areas of West Palm Beach, Fort Lauderdale, and Miami rank among the top U.S. cities for all-cash home purchases in 2024.

Why Is South Florida a Magnet for Cash Buyers?

The trend of cash sales in South Florida is fueled by several key factors:

• Strong Investor Presence – Investors continue to purchase homes for rental income and long-term appreciation.

• International Buyers – Many overseas investors view South Florida as a stable place to park their money, particularly from Latin America and Canada.

• Relocation from…

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