February 23, 2024
Real estate developers chase outer space business in Florida

Florida Trend Real Estate

Real estate developers chase outer space business in Florida

| 12/11/2023

Real estate developers chase outer space business in Florida

Developers are increasingly looking to niche industries as offices and some retail struggle, and as apartment-rent growth slows. Some property firms are building data centers to capitalize on the growth of artificial intelligence. Others are turning to outer space. Rockets and spaceships are big and expensive, making it hard to transport them to launch sites by road or rail. They also require an army of suppliers. That creates demand for storage and manufacturing facilities close to launch sites. [Source: Wall Street Journal]

Florida to consider bill to protect buyers from moving company scams

A bill that would create new safeguards for consumers against moving company scams is en route to a second hearing after receiving unanimous approval in its first Senate stop. The measure aims to hold movers and the businesses that connect them with customers more accountable by increasing documentation requirements and banning them from withholding people’s possessions for exorbitant sums. [Source: Clay Today]

Gov. Ron DeSantis' recommended budget includes millions for property insurance market

Gov. Ron Desantis on Tuesday released his recommended budget for the next fiscal year, which includes $109 million to support residential home mitigation programs and additional oversight of the property insurance market. Many Florida homeowners have dropped property insurance this year because of rising costs. [Source: WPTV]

A private island for sale in Florida just saw a $30 million price cut

The bad news is that you still need that spare $187.5 million. Tarpon Island, a 2.3-acre private island created in the Intercoastal Waterway around Florida's Palm Beach in 1930, came back onto the real estate market for the first time in 23 years in 2021. With both the country's and Florida's real estate markets in the middle of a boom, luxury real estate developer Todd Michael Glaser purchased it for $85 million in July and then relisted it again for $210 million just a few months later in November. [Source: The Street]

Messi Business: The soccer star’s favorite Florida real estate

It was the biggest coup in the history of Major League Soccer and the buzziest thing to happen in South Florida since string bikinis. In June, FIFA World Cup champion Lionel Messi joined the David Beckham-backed Inter Miami CF team. The result was “Messi Mania,” a frenzy of interest in not only the athlete and the team, but in South Florida itself. [Source: New York Post]

STAT OF THE WEEK
0.5%
The median home in Alachua County listed for $349,075 in November, up 0.5% from the previous month's $347,450, an analysis of data from Realtor.com shows. [Source: Gainesville Sun]

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"The cost of living on the south side is a burden." This is Stephanie Wilson. Despite the houses along these streets, she tells me, "you don't have a lot of options." For now, that may be the case, but recently the Leon County Commission approved a $35 million dollar bond issue to construct 156 rental units for low-income families.

› What to know in Manatee: Lazy C Ranch poised to build over 1,000 homes on agriculture land
Manatee County commissioners gave the green light to build more than a thousand new homes on rural land previously zoned for agriculture. Commissioners discussed the development, as well as proposals for a new gas station in Palmetto and an expansion for the Ingman Marine boat dealership, at a public land use meeting on Thursday.

› As homelessness rises, Orlando may invest $6 million in Christian Service Center renovation
Orlando city commissioners are being asked to OK funding for a renovation to the Christian Service Center, which would add indoor showers, mailboxes, laundry, charging stations and a long-sought comprehensive day center, creating a one-of-a-kind support facility focused on fast-tracking unsheltered people into housing.

› Here’s how much living space $1,700 in rent gets you throughout Miami
A recent report revealed how much space renters could obtain with $1,700 in Miami-Dade County. RentCafe analyzed 43 ZIP codes in the county and found that 17 offer apartment spaces smaller than 600 square feet, while 25 neighborhoods provide living spaces between 601 and 851 square feet for $1,700, with only one reaching 1,000 square feet.

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