Year: 2017

Palm Beach plans to simplify demolition permit process

Crew razes a 1920s home at 200 S. Ocean Boulevard in 2014. (Credit: Palm Beach Daily News) The government of Palm Beach is likely to make town permits for partial demolition easier to get. The town council has directed the planning and zoning commission rewrite the municipal code to clarify its definition of “50 percent” …

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Former tennis pro Gabriela Sabatini lists Key Biscayne penthouse

Gabriela Sabatini Retired professional tennis player Gabriela Sabatini listed a penthouse duplex in Key Biscayne for sale with a $2.89 million asking price. The 3,138-square-foot unit has five bedrooms, three bathrooms and a half bathroom, a den, and a private rooftop terrace with panoramic views of downtown Miami, Biscayne Bay and the Atlantic Ocean. The …

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Effort to redevelop historic hotel in DeLand falls short

The Putnam Hotel in DeLand (Credit: Abandoned Florida) Plans to redevelop a historic hotel in DeLand failed to advance despite a promised subsidy from the city. Sarasota-based developer Tony Collins was unable to gather enough investors to redevelop the 112-room Putnam Hotel by a deadline the city set. In June, the DeLand City Commission voted …

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Miami investor adds to Jacksonville property portfolio

10 North Pearl Street in Jacksonville (Credit: Jacksonville Daily Record) Miami-based real estate investor Ramon Llorens paid $2.78 million for a Greyhound bus station in downtown Jacksonville, the latest a series of Jacksonville properties he has acquired. The bus station is located at 10 North Pearl Street near the Everbank Center, a high-rise office building …

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McCraney Property buys land for Savannah-area industrial development

Steven E. McCraney, president and CEO, McCraney Property Company West Palm Beach-based McCraney Property Company bought land for an industrial development near Savannah, Georgia. “Savannah’s expanding port continues to fuel the environment for the success of large logistics companies,” Steven E. McCraney, president and CEO of McCraney Property, said in a prepared statement. McCraney Property …

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San Diego firm pays $208.1M for 3 office buildings in downtown Orlando

The Bank of America Center in downtown Orlando An investment firm based in San Diego, California, paid $208.1 million for three office buildings that define much of the downtown skyline in Orlando. San Diego-based Southwest Value Partners bought the 27-story Bank of America Center, 19-story One Orlando Centre and 18-story Citrus Center, which have a …

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The year in hurricane damage: Is climate change catching up with South Florida RE?

(Credit: Max Pixel; top Mike Licht/Flickr) From TRD New York: After a devastating hurricane season that wrought billions of dollars worth of damage, South Florida property markets are beginning to reveal the long-term fall out from the storms. Prospective buyers are increasingly paying for their own independent flood assessments in order to discover how much …

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Construction of memory care facility starts in Coconut Creek

Rendering of Clarity Pointe in Coconut Creek A joint venture broke ground for construction of a 95-bed memory care facility in Coconut Creek called Clarity Pointe. The developers formed a company, CP-Coconut Creek Development I LLC, and obtained a $13.8 million construction loan for their project in Coconut Creek from an Arkansas-based lender, Centennial Bank. …

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Appellate court overturns $16.5M judgment in favor of Richman Group

  Rendering of Richman Group’s proposed apartment complex in Safety Harbor Richman Group of Florida filed for a new hearing after an appellate court overturned a $16.5 million judgment in favor of the real estate development company. Florida’s Second District Court of Appeal ruled that Pinellas County does not have to pay the $16.5 million …

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First Crystal Lagoons amenity in the nation completed in Tampa suburb

Crystal Lagoons installation at Epperson development in Wesley Chapel Crews finished filling a 7.5-acre man-made lagoon near Tampa with water, completing the first amenity at a U.S. real estate development featuring Crystal Lagoons technology. Tampa-based Metro Development Group put the Crystal Lagoons amenity at its Epperson development in Wesley Chapel, a landlocked suburb of Tampa. …

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