FGCU Tech Park Presentation

Vital economic development project

The 5th Annual Southwest Florida Real Estate Outlook Conference presented by CCIM was held yesterday at the Harborside Convention Center.

Janet Watermeier of the Florida Gulf Coast Group presented on the FGCU Tech Park.

I am a big proponent of this endeavor and believe that it is in the best interests of all SW Florida investors to get involved. Lee County could certainly benefit from the creation of higher paying technology jobs, a diverse economy is the key to long-term regional economic health.

Janet Watermeier presentation [Florida Gulf Coast Group]

Ft. Myers population projections

23% growth projected for 2001-2005

Fishkind & Associates, an Orlando based research firm is forcasting population growth in the Ft. Myers metropolitan statistical area to 561,392 in 2006.

Econocast chart [Fishkind & Associates]

Commercial slowdown predicted

Interest rate increases expected

Orlando-based economist Hank Fishkind told a conference of Southwest Florida real estate agents Thursday that by the end of this year rapid increases in the price of investment properties will be a thing of the past.

"We'll be lucky" if the worst that happens is a slowing down in commercial real estate appreciation, said Fishkind, drawing gasps from the audience at the fifth annual Southwest Florida Real Estate Outlook Conference presented by Florida CCIM Chapter at Harborside Event Center in Fort Myers.

Hank Fishkind Presentation [Fishkind & Associates]
Slowdown predicted for commercial property [News-Press]

Home sales soar despite storms

23% price gain in '04

The cost of an existing house in Lee County soared 23 percent last year to a median price of $192,100. The year also ended with record sales, despite four hurricanes. The figures for just the month of December were even higher: The median price rose 33 percent to $221,200 — compared to December 2003's price of $166,200.

But the red-hot market is taking its toll on those trying to buy moderately priced houses, said real estate agent Denny Grimes, of VIP Realty. "If you're looking for a home in the under-$250,000 range, There is none."

Overall, Grimes said, there are fewer homes available than there were a year ago in all price ranges except $1 million and up: 426 of those are for sale and only 182 were sold last year.

Home sales soar despite storms [News-Press]

25,000 homes in ranch plans

Development would support 62,ooo new residents

The owners of McDaniel Ranch want to build a community the size of Lehigh Acres in an area just north of the Big Cypress National Preserve in Hendry County.

That prospect has conservation groups alarmed, but plans have fallen through to purchase or preserve all or part of the tract.

Representatives of the McDaniel family haven't put anything in writing yet, but state and Hendry County officials say the plan is to put 25,000 homes — which would mean 62,500 people — on the 23,000-acre property during the next 30 years. By comparison, Lehigh Acres has a population of about 58,000.

25,000 homes in ranch plans [News-Press]

Paving program falling short

Utility expansion funds help keep repaving on track

Cape Coral's road resurfacing program relies heavily on utility expansion projects to keep roads in good repair, but the paving budget still falls about $1 million short of what is needed, according to a report presented this week to the City Council.

"The current level of funding is not totally effective in eliminating or keeping up with street deterioration throughout the city," said the report presented by project manager Chris Camp.

Paving program falling short [News-Press]

Lee County exceeds 500,000 residents

Lee County adds 26,165 residents in 2004

The Lee County Economic Development Office 2004 Annual Report highlights several key growth indicators including population growth to over half a million residents.

Other positive indicators are in the area of job and wage growth and a reduction in unemployment figures.

Highlights from the January 21, 2005 Horizon Council Team Lee County Annual Meeting included the addition of 9015 jobs in Lee County during 2004, this was 4.3% increase was the largest in the last decade.

2004 Annual Review [Lee County EDO]
Excerpts from Horizon Council Annual Meeting Presentation [Lee County EDO]

Investor University -- Cape Style

Prosperity Through Property

Local entrepreneur Russ Whitney employs 350 here in the cape and trains 60,000 students a month on transforming their lives by successfully investing in real estate.

Whitney has written three how-to books, says he does multimillion-dollar real estate deals on a regular basis, and owns his own jet. Who wouldn’t want a piece of that?

Prosperity Through Property [Gulfshore Business]

Projects in utility crunch

Water problem may keep Home Depot out of Cape

A lack of water could keep commercial development from expanding in some parts of Cape Coral.

Cape Coral has warned Home Depot that it might not be able to build at Skyline Boulevard and Veterans Parkway because the city might not be able to produce enough water to service the store.

Projects in utility crunch [News-Press]

Lee building permits top $3 billion

2004 growth spurs need for more county agency staff

Building permits worth more than $3 billion were issued in Lee County in 2004 as construction of homes and commercial buildings alike surged to new heights, county officials announced Wednesday.

The total value of construction excluding Fort Myers and Cape Coral was $3,028,496,807, up 53 percent from 2003’s $1,969,276,120. Single-family-home permits increased 48 percent from 4,802 to 7,124.

Lee building permits top $3 billion [News-Press]

Shortages, growth will spur real estate

5.4M new housing units needed in Florida by 2030

The United States is lacking 50 percent of the homes, retail stores, offices, and other buildings that will be needed by the year 2030 to handle population growth. That's according to a Brookings Institution report published recently in USA Today.

Shortages, growth will spur real estate [News-Press]