Anti-Growth
Sentiment and its Possible Effect on Ft. Lauderdale
Condo Hotels
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Q:
I recently saw an article about the anti-growth sentiment
that has occurred in many South Florida cities. Let
me quote from the March 19, 2004, Daily Business Review.
"The residents
of the seaside town south of Bal Harbour are hardly
alone. Throughout the tri-county area, from Miami
Beach to Jupiter, voters in recent municipal elections
claimed a greater role in zoning decision-making or
sent a clear signal to their elected officials that
they wanted to slow down development. In several cities,
incumbents viewed as developer friendly were either
tossed from office or faced serious opposition."
There have
been claims made by concerned citizens that the cities
have been given too many waivers on height, setbacks
and parking for development projects.
Now here's
my question. I am considering a condo hotel in Ft.
Lauderdale. What do you think this anti-growth sentiment
could mean specifically for Ft. Lauderdale?
A:
Ft. Lauderdale is one of
the cities where there has been much anti-growth sentiment.
It means that future developments will have a more
difficult time in becoming a reality, if at all.
Those developments that already exist
or are in the process of being developed should enjoy
future business without the threat of future nearby
competition. Future developments will be costly which
will make existing developments cheap by comparison.
The above question was submitted
via e-mail by a visitor to www.condohotelcenter.com.
The answer was prepared by Joel Greene, a licensed
real estate broker with Condo Hotel Center which specializes
in the sale of condo hotel units and fractional ownerships
in private residence clubs.
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