[THX 1138]

This land has been a hot topic since the boom years well it finally sold, oranges get out here comes more development and retail space, aside from the flashpot of construction jobs it will create, mainly what will come out of it will be more low paying service jobs and retail. Looks like a boon for the county, tax revenue and etc. but not much else in terms of quality paying jobs.

"Callery-Judge Grove has a new owner who aims to build thousands of homes and perhaps 2 million square feet of commercial space on the citrus farm long envisioned as the site of a new mini-city in western Palm Beach County,
Homebuilder Minto Communities on Thursday paid $51 million for the 3,800-acre property along Seminole Pratt Whitney Road, according to a deed filed with the county."

Callery-Judge Groves sells to home builder | www.palmbeachpost.com

Callery Judge Grove, Dover, Kohl & Partners

http://www.doverkohl.com/files/pdf/C..._low%20res.pdf

[LordyLordy]

I wonder what this will do to the values of existing homes in Loxahatchee - they took a huge hit in 2008-2009 and have not recovered that much. Having a flood of new homes on the market - good or bad?

[THX 1138]

Well many who live out there, probably are against it because it's going to disrupt the lifestyle they wanted to have. More traffic, well Northlake is already jammed on any given day.

Might not have any effect since what we will see will be a gated community with HOA, nicely manicured and will look like a resort. Probably a big draw for retiring baby boomers from the Northeast. Doubtful you will see 20 and 30 somethings who work an average job here lining up to buy homes.

[klaucka]

Originally Posted by LordyLordy

I wonder what this will do to the values of existing homes in Loxahatchee - they took a huge hit in 2008-2009 and have not recovered that much. Having a flood of new homes on the market - good or bad?

Overall I would think it would have a negative impact on home prices. Basic supply and demand economics, more supply equals less demand and will lower prices. One could also argue even a bigger impact on older home prices as buyers are usually attracted to the nice and shiny new home.

[THX 1138]

Traffic will be a mess on Northlake, one of my co-workers lives in Ibis and is all stirred up about it...

[tallrick]

One can only hope the US economy collapses by next year to stop all these stupid projects.

[THX 1138]

Originally Posted by tallrick

One can only hope the US economy collapses by next year to stop all these stupid projects.

Didn't it already collapse and the recovery is pure smoke and mirrors?

[LordyLordy]

Originally Posted by tallrick

One can only hope the US economy collapses by next year to stop all these stupid projects.

It's called "capitalism" and "free market", no?

[jds54]

Actually..this could work in a positive reverse...due to the current status of the acreage and its surrounding area with the past cancer cluster scare...Minto will be building on a so called "Toxic" plot of 3800 acres...thus proving that there is no immediate danger..and for those that want that rural lifestyle...our home prices should actually rise...good size plots of land..no HOA fees..and all the amenities of living in a Equestrian area....without having the high prices that I am sure will be charged for new home ownership and the monthly fees. With all the new homeowners, there will definitely be a boost in the surrounding economy...I for one have lived in gated communities and never felt that I had to stay in the confines of the community..but rather venture out and find new places to shop and dine...Things as of now can't get much worse..and have found that the area of 33411 has been on an upswing for home prices for the last year now...just last month it was up 6.7 percent ...Perhaps this will force the hand of the county to run city water lines and sewer lines..giving us the choice and ability to hook up..and put this "bad water" issue to rest..so think positive...~