Your Home Equity Can Offset Affordability Challenges

Are you thinking about selling your house?
Are More Homes Coming onto the Market?

An important factor shaping today’s market is the number of homes for sale.
Plenty of Buyers Are Still Active Today [INFOGRAPHIC]

Holding off on selling your house because you believe there aren’t any buyers out there?
Redevelopment of Christ Church moves forward, Unveils 319 Modern Apartments

In the heart of Pompano Beach’s historic downtown district, a significant transformation is underway. The former Christ Church United Methodist property, once a cornerstone of the community, is set to make way for the impressive Old Town Square II high-rise apartments. Spearheaded by developer Adam Adache of Cavache Properties, this ambitious project involves the acquisition of all five parcels (A through E) that constituted the church property. Currently, parcels B and D are under meticulous site plan review. Attorney Nectaria Chakas shed light on the project’s scope, revealing plans for two buildings housing a total of 200 one-bedroom apartments, 100 two-bedroom apartments, and 19 three-bedroom apartments. The recent approval of a pivotal ordinance, incorporating four key text amendments to the zoning code, signifies a significant step forward. Among these amendments, the developer seeks to add an extra four feet in height to the building, modify massing restrictions in the Historic Transition Area, alter density in the Transit Core Area, and change the use of two blocks from residential multi-family to mixed-use residential, thereby enabling commercial activities on the first and second floors. A notable amendment includes allowing a 19-foot height clearance between the ground and residential floors, effectively encouraging more residents to embrace downtown living. Chakas, drawing parallels to Fort Lauderdale’s vibrant Flagler Village, emphasized the project’s walkability, citing the presence of amenities like yoga studios, further enhancing the area’s appeal. However, not all voices resonated in harmony with the project’s vision. Commissioner Alison Fournier, expressing her concerns, highlighted the potential challenges of increased density amidst existing traffic congestion. In contrast, Mayor Rex Hardin defended the project, underscoring the urgent need for increased housing options and downtown revitalization. He emphasized that Pompano Beach’s downtown is not a traditional single-family neighborhood and, therefore, can sustain higher density developments. An essential aspect of the project revolves around preserving the community’s heritage. Plans are in motion to relocate the 1930s historic chapel to Centennial Park, offering an enchanting venue for weddings and events. Additionally, Adam Adache has shown a commitment to affordable housing, with 15 percent of the units, approximately 48 apartments, being allocated for affordable housing at around $2,000 per month, with some units priced even lower. While opinions remain divided within the community, the consensus leans toward progress and growth. Supporters, such as local business owner Connie Bookholt, emphasized the importance of balancing aesthetics with functionality. She advocated for the necessity of density, recognizing it as a driving force behind economic vitality. In the midst of change and transformation, Pompano Beach stands at a crossroads, where the echoes of history meet the aspirations of a vibrant future. The Old Town Square II high-rise apartments promise not just new residences, but a potential renaissance for this cherished community, where the old and the new coexist in harmony. South Florida Luxury Real Estate | Ocean Area Living | Heather Lefebvre
Should Baby Boomers Buy or Rent After Selling Their Houses?

Are you a baby boomer who’s lived in your current house for a long time and you’re ready for a change?
What Experts Project for Home Prices Over the Next 5 Years

If you’re planning to buy a home, one thing to consider is what experts project home prices will do in the future and how that might affect your investment.
Planning to Retire? Your Equity Can Help You Make a Move

Reaching retirement is a significant milestone in life, bringing with it a lot of change and new opportunities.
Home Price Forecasts Revised for 2023 [INFOGRAPHIC]

Last year, some housing experts projected a decline in home prices by the end of 2023. But that didn’t happen – inventory was just too low.
Get Ready for Smaller, More Affordable Homes

Have you been trying to buy a home, but higher mortgage rates and home prices are limiting your options?
Mortgage Rates: Past, Present, and Possible Future

If you’re hoping to buy a home this year, you’re probably paying close attention to mortgage rates.