Commercial Properties

floridaSince Florida has no income tax, real estate taxes are substantially lower than elsewhere in the nation.  For example, these taxes can be a staggering 50 percent higher in a place like Connecticut.  In addition, the state has great infrastructure and in 2016 it recorded a $1 billion surplus, being used by Governor Rick Scott to reduce/eliminate business taxes as economic excellence results in population growth and thus increased tax revenue.  On the flip side, places like Connecticut are losing their taxpayers and becoming unable to balance their budget. Not so for Florida.

Furthermore, Florida continues to have a reputation for being one of the best quality places to live, nationwide. In the ‘Top 5 Cities for a Second Home’ report, two cities claimed the top two spots: Naples (at Number 1) and Boca Raton (at Number 2).

Why is that?  First, a lot of New Yorkers are buying second homes and they want to escape the horrible winter weather of their home town. Boca Raton has some beautiful, gated communities and makes a great place for the successful professional to lay his or her hat.  They have the great country clubs, golf and easy access to airports.

Then, Naples has something to offer New Yorkers too.  Being a completely different vibe to the Big Apple, still with the great climate of Boca (but on the other side), this city has a very laid back attitude, but also with private communities.  Off the beaten path it still provides simple access to Fort Myers and South Florida.

So Florida has what to offer for both prime and second home buyers.

gated communityA lot of people would love to live in a gated community. But it isn’t so realistic as it’s usually way out of their budget. In Florida these days, it might soon become an option. It wouldn’t necessarily be large, spacious stand alone homes (like one usually associates with gated communities) but rather small units that would appeal to singles, those who are retired, first-time and second-time buyers.

Indeed, this is the aim of the Pulte Group. According to company spokesperson, Valerie Dolenga, a lot of this demographic is looking for “a taste of country living at prices that are easier on their wallets.” To respond to that need, the Pulte Group is now constructing two-bedroom homes in gated communities for base prices of less than $300,000 in the Naples area at The Quarry, Twin Eagles-Covent Garden, Camden Square; in Estero at Corkscrew Shores, and in the Fort Myers area at Whispering Palms, Bridgetown and The Plantation.

Not only is this great news for that demographic but it is also indicative of good things in Florida. As President of the Naples Area Board of Realtors, Mike Hughes astutely noted, “if builders weren’t building a lot of new product on the lower end, it would cut down on sales in the area. The demand level is so strong, we’re looking for whatever new product we can get.”

The issue in Southwest Florida over the last 24 months has been that it is has been very difficult to find a home with a price tag of less than $300,000. So now the state is working hard to boost growth. And it seems that is happening as there has been a push in this direction from Governor Scott. Indeed, According to Jesse Panuccio, Executive Director of Florida Department of Economic Opportunity, “September was another strong month for Florida’s housing market, with over the year increases in closed sales and median home prices.”

These developments are definitely a step in the right direction for Florida housing.

Sterling University Housing (an auxiliary of Dinerstein which has built approximately 30,000 housing facilities for students), is set to construct four off-campus student housing constructions, one in Florida, one in Texas, and two in South California. They are due to be up and running by the end of next summer and hope to achieve LEED for Homes Silver Certificate.

Going Green in Top Quality

There will be some great amenities at the Florida student housing construction which will be built next to the University of South Florida, in Tampa.  The furnishings in the building will be very modern; a park will be developed with areas for exercise, as well as various games rooms, two swimming pools, a tanning dome, computer center, etc.  Inside there will be a washer and dryer, a 42 inch TV and more.  the main objective of the apartments is to go green and thus they will be constructed in an eco-friendly manner as much as possible with top quality clean air quality and other energy-saving features.