Newest craze for Florida’s Gen X homebuyers: Live like a retiree
Why should the grandparents have all the fun? It turns out plenty of Gen X homebuyers are just as crazy for pickleball, spa services and wine clubs as their Boomer counterparts, and national homebuilders are responding. Pulte has joined Taylor Morrison in expanding its active adult brand to create all-ages communities with the same enticing combination of amenities and programming. The nation’s third-largest homebuilder announced its not-just-for-retirees Del Webb Explore spin-off on March 3, with the first two resort-style communities planned in Southern California and Tampa Bay. [Source: Orlando Sentinel]
Land adjacent to Everglades Airpark for sale
Along with conversations about closing or improving the Everglades Airpark is speculation about the nearly 53 acres for sale next to it. Would a buyer also want to purchase the airport from Collier County? LSI Companies, a Southwest Florida-based commercial real estate company, is marketing the property located next to the airport in Everglades City off of South Copeland Drive. The six parcels known as The Everglades Outpost Property are listed for $9.5 million and being marketed as "the next regional waterfront development in South Florida" that "has all the makings of a trophy hospitality asset." [Source: Naples Daily News]
After pouring $450 million into Florida real estate, Larry Ellison plans to lure the ultra-rich to an exclusive town just minutes from Mar-a-Lago
Known for his tech feats as cofounder and chief technology officer of Oracle, in South Florida, Larry Ellison is instead flexing his developer experience as he pours millions of dollars into real estate and helps transform an exclusive island town 20 minutes from Mar-a-Lago into a haven for the mega-rich. The world’s fifth wealthiest man started buying properties in the 400-resident town of Manalapan, Fla. in 2022, and since then has pumped $450 million into two landmark properties, Bloomberg reported. Ellison set a Florida record for the purchase of a $173 million estate spanning 16-acres that includes both beachfront and lakefront property. [Source: Fortune]
Everything we know about the latest 18-story condo project proposed for downtown Sarasota
The Adagio, another towering residential project in Sarasota's growing portfolio, is in the development pipeline for downtown. Here’s what we know about it: How big is the Adagio, and where is it? The Adagio proposes 167 residential units and commercial space across two towers, the first stretching 18 stories and the second reaching nine stories. The development would also include 457 parking spaces dispersed throughout basement and lower-level parking areas. [Source: Sarasota Herald-Tribune]
Maryland buyer pays $72 million for housing near Florida Gulf Coast University
Capreit, a Maryland multifamily property operator, has bought a student housing community near Florida Gulf Coast University for $72.3 million. The property is at 19401 Skidmore Way in Fort Myers. It was previously owned by Coastal Ridge Real Estate in Ohio which, according to Lee County property records, paid $44 million for it in 2018. JBM Institutional Multifamily Advisors, which brokered the sale, says the 200-unit, 800-bed, three-story Coastal Village was built in 2004 and sits on 21.29 acres. It is a mile from FGCU and one of three student housing communities serving the university. [Source: Business Observer]
$1 Million
Ever wanted to own an island? Island DelMonte could be yours for $1M. A new one-of-a-kind listing in Milton offers potential buyers a chance to build a tropical paradise and take waterfront living to another level. [Source: Pensacola News Journal]
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› South Florida assisted living home accused of evicting dozens of residents to convert into luxury apartments
Linda McNamee thought she could relax once she and her husband finished moving into their new assisted living home at Oasis Living Quarters in February. They’d had their doubts after talking to a few of the residents, but were enticed by the pretty grounds and the persuading of its management team over lunch.
“They wined and dined me,” the 80-year-old recalled. “They said this’ll be done, this’ll be done. Needless to say, we moved in.”
A month later, the Fort Lauderdale assisted living home is evicting all of its residents, including McNamee, in order to convert the property into luxury apartments, according to residents, their family members and a new lawsuit.
› Principal Asset Management sells 204,000-square-foot shopping center in Lake Worth, Florida
Principal Asset Management has sold Pinewood Square Shopping Center, a 204,000-square-foot retail center in Lake Worth, roughly 35 miles north of Fort Lauderdale. The property was 99 percent leased to 42 tenants at the time of sale. Retailers at the center include T.J. Maxx/HomeGoods, Ross Dress For Less, Five Below, Goodwill and Delray Medical Center.
› This land swap would give 700 acres of North Florida state forest to peanut farm
In a move that has alarmed wildlife advocacy groups, state water managers are considering a land swap that would give nearly 700 acres of North Florida state forest land to a neighboring peanut farming company.
The proposal comes more than a decade after a separate peanut operation sought the same swath of Madison County land within the Twin Rivers State Forest — dubbed the Ellaville Tract — in a similar trade offer.
› New York developer secures $206 million to build over 600 Miami-Dade apartments
New York-based Baron Property Group secured a $206 million loan for Metro Parc North, an eight-story, 661-unit rental building now under construction just a block west of the Hialeah Tri-Rail/Metrorail Transfer Station.
Post Road Group, an alternative investment advisory firm based in Stamford, Connecticut, provided the mortgage. Ayush Kapahi, principal and founding partner of HKS Real Estate Advisors, facilitated the deal.