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In spite of downturn, GL Homes drops $117 million for land
The housing market might be in the tank, but GL Homes just dropped $117 million for 1,068 acres along State Road 7 in the Agricultural Reserve west of Delray Beach.
“It is certainly swimming upstream to be buying land when most other developers and builders are trying to sell it,” says Brad Hunter, a housing analyst at Metrostudy in West Palm Beach. “But the Ag Reserve is somewhat GL’s home base. They know the area well.”
The chunk of the site west of State Road 7 will remain farmland to satisfy preserve requirements for a GL development at the southwest corner of Boynton Beach Boulevard and Lyons Road. The land east of State Road 7 is slated for 550 homes.
See the deed here, and see GL’s plans here and here.
Permalink | Comments (48) | Post your comment | Categories: Jeff Ostrowski

Jeff Ostrowski
Alexandra Clough



Comments
By Get in the Game
March 26, 2008 11:15 AM | Link to this
$211,000/door?
GL and the bank must know something.
That $/door translates to about $650,000 - $850,000 for base costs (land, infra, debt services, marketing, and build out).
$750,000 for Boynton and Lyons???
In 2010? Or even 2013?
Going to be interesting for GL to recoup their investment!
By Get A Clue
March 26, 2008 12:49 PM | Link to this
Apparently you’re unfamiliar with GL and their communities. Try their website and get back to us, they’ve been getting a million plus in that area since 2004.
By AJ
March 26, 2008 3:49 PM | Link to this
As usual, no affordable housing for the avg. American family.
By AJ
March 26, 2008 3:52 PM | Link to this
Just another gated community for the rich and wannabee famous. So much for the avg American family.
By AJ
March 26, 2008 3:53 PM | Link to this
Just another gated community for the rich and wannabee famous. So much for the avg American family.
By To AJ
March 26, 2008 3:57 PM | Link to this
Hit the road jacka$$.
By AJ
March 26, 2008 4:10 PM | Link to this
Very classy..typical So. Fla attitude and intelligence. We are leaving….can’t wait!!!!!!!!!!
By AJ
March 26, 2008 4:14 PM | Link to this
We are…can’t wait to leave the area..especially people like you.
By AJ
March 26, 2008 4:16 PM | Link to this
We are…can’t wait to leave the area..especially people like you.
By dirk
March 26, 2008 4:25 PM | Link to this
Ag. Reserve = houses. How did that happen? It will be fun to see them build 500 homes that they cant sell for 10 or 15 years. Guess they are just feeding the beast.
By Captain Condo King Pizow
March 26, 2008 5:09 PM | Link to this
Looks like 500 more homes for the Guats to scoop up! Maybe I should start selling more single family homes instead of condos? Nahhh, condos flip like flapjacks at Ihop on Sunday. Alright, back to work… have to go meet with some Guats on Belvedere (aka The Guautobaun) about a timeshare in Mar-a-Lago. Peace fellow millionaire mavens!
By REal TRUTH
March 26, 2008 5:17 PM | Link to this
Hey By AJ, don’t let the screen door on the double wide hit your sorry *ss on the way out.
Average people can’t live in FL. They may want to but they can’t so tough *hit. Now, get along to GA, NC or SC and start building that hog pen. I like bacon with breakfast while I watch the sun rise on the Atlantic.
By delray dude
March 26, 2008 5:20 PM | Link to this
Uhhh, I thought Ag Reserve land was for …….agriculture.
what a moronic state we live in where Ag reserve people get tax free land rights than gt to dump the land to build more McMansions….
Either allow potential future development and start taxing them today or make it Ag land only forever.
By REal TRUTH
March 26, 2008 5:20 PM | Link to this
Hey By AJ, don’t let the screen door on the double wide hit your sorry *ss on the way out.
Average people can’t live in FL. They may want to but they can’t so tough *hit. Now, get along to GA, NC or SC and start building that hog pen. I like bacon with breakfast while I watch the sun rise on the Atlantic.
By To AJ
March 26, 2008 5:26 PM | Link to this
Can we try to put these sentences together and make a paragraph? There is no need for 1 sentence entries. A gorilla could gather his thoughts better than you. It obvious why you need affordable housing. Don’t let the door hit you in the a$$ on the way out of Florida. Good riddance.
P.S. Which part of hitting the “post” button once don’t you understand?
By PIPE DREAMING
March 26, 2008 5:50 PM | Link to this
Even if they make money on this “buy”, gonna take forever long, and risky like no other bet. Hopefully they see success, however it could get creamed just as easy. We are in for big trouble ahead with Dollar falling and Oil going through the roof. We won’t have any money left for nice housing.
Wish them luck.
By AJ
March 26, 2008 6:19 PM | Link to this
Hilarious!!! More like I’ll be taking my business and my 28 employees out of the area. Good luck with your 7K insurance and taxes. Mine will now be 3K combined for a 4BR/4BA in Sedona, AZ!! Have fun!!
By REal TRUTH
March 26, 2008 6:33 PM | Link to this
Dear By AJ, sorry to see you go…NOT!!!
Go ahead and take your 28 illegals to AZ and open up another taco stand. BTW, have you paid any withholding taxes on them? Bet not.
By renaissance
March 26, 2008 8:22 PM | Link to this
After carry and other exactions; the per unit carry cost will be 300k. They will have to average 1.2 - 1.5 to satisfy their investors and lenders. Balsy move!
By renaissance
March 26, 2008 8:22 PM | Link to this
After carry and other exactions; the per unit carry cost will be 300k. They will have to average 1.2 - 1.5 to satisfy their investors and lenders. Balsy move!
By renaissance
March 26, 2008 8:22 PM | Link to this
After carry and other exactions; the per unit carry cost will be 300k. They will have to average 1.2 - 1.5 to satisfy their investors and lenders. Balsy move!
By ChicagoTruth
March 26, 2008 8:34 PM | Link to this
Looks like the Max puppet has a a new name in REal Truth. Come on Linda, anyone with an oz of discernment can recognize a Max puppet put-down.
The REAL truth is that building anything in Boyzindahood Beach is a losing proposition. And why would anyone want to live way out west at Rt 7?? May as well go live in Belle Glade for a fraction of the price.
The ONLY reason to live down here is CLOSE PROXIMITY to the beach, and the cooling ocean breezes.
The other REAL TRUTH is that America society can not function without those lowly average workers. There is nothing good about a teacher or cop not being able to afford a decent home near their jobs. It is a detriment to a cop or teacher’s job performance when they must endure a ridiculous 50 mile commute from their jobs to the closest decent home they can afford. And NO ONE who works full time in Palm Beach COunty should be forced to live way up in Port St Loser.
The working man keeps the country running. Without the working stiffs who deliver documents and supplies, and who clean and service your offices and machines that are so crucial to you high paid corporate types, your businesses would cease to function.
Physicians deserve their high pay. However, a doctor also needs his nurses and office staff to operate a practice. Those nurses and office staff also work hard, thus deserve a decent home in which to live within proximity of their work.
REal Truth seems to feel that only the wealthy deserve to live in this supposed ‘paradise.’
Good luck getting the wealthy to do all the other work required to keep modern American society operating smoothly.
Everyone who contributes to society by working a full time job deserves a decent place to go home to. Thats not communism or socialism. That is simply decent and right. In other words, justice.
By To AJ
March 26, 2008 9:49 PM | Link to this
Take your lawn service and your 28 illegal immigrants to Arizona. For some reason this sounds like Rich R. It doesn’t really matter both are losers.
By AJ
March 27, 2008 8:34 AM | Link to this
Hmmm…I sense some real jealousy on this board. Have fun here you mouth-breeders.
By AJ
March 27, 2008 8:35 AM | Link to this
Hmmm…I sense some real jealousy on this board.
By To AJ
March 27, 2008 8:41 AM | Link to this
Hey retard, which part of hitting the “post” button once don’t you understand.
Jealous of what? You obviously can’t afford to live in Florida. Why would we be jealous of that?
By Out West?
March 27, 2008 9:15 AM | Link to this
Why anyone would pay $1,000,000+ to live out in the everglades is beyond me.
The only real reason to live in S. FL is to be near the ocean. Out west the weather is hotter, more humid, and has less wind and more bugs.
And on top of all that it takes forever to go any decent restaurants/events which all are closer to the coast.
If GL doesn’t build out there for several years, they should be OK. But I wouldn’t live out there…
By AJ
March 27, 2008 9:20 AM | Link to this
I can certainly afford to easily live in FL as i have for 30 years. However, unlike yourselves, I have concern for what is happening to the area and the state (but, not any longer) and don’t just care about myself. That’s why I am taking over half of my employees with me and paying their moving expenses to boot. I’ve also hired a recruiter to help the rest find positions. Like I said…jealous!! Good luck during hurricane season!! I’ll be floating in my pool with a drink watching you fools on the Weather Channel.
By Rich R
March 27, 2008 9:58 AM | Link to this
AJ,
I did what you are planning back in ‘05.
I moved my business to NC and took about 25% of the staff with me. The others were layed off.
I too could easily afford to live in SoFla but the rapid decline in the quality of life along with many other issues made SoFla just a nasty place to live. I bailed out and didn’t look back.
Growth in SoFla has stalled with many counties losing populatin. School attendance is down for the past couple of years now.
Rental truck companies suggest more heading out of the state then heading in. You are not alone in your mindset.
I was born and raised in SoFla and in as much it took me some time to come to terms with my decision.
I will say it’s been 3 years now and I couldn’t be any happier.
Family and friends still in SoFla all scream the same pain and I’m hearing horror stories almost on a daily basis.
Good luck in your move; you won’t regret it.
By WAKE UP
March 27, 2008 10:24 AM | Link to this
GL has already built thousands of homes in the ag reserve and the surrounding areas. I’m pretty sure they’ll be okay. Just take a drive up and down Lyons Rd or Hagen Ranch Rd in that area - there are more successful GL communities than you can shake a stick at.
By AJ
March 27, 2008 10:27 AM | Link to this
Thanks Rich R. Finally, an “adult” on this board!!
By REal TRUTH
March 27, 2008 10:51 AM | Link to this
To AJ: run and get me a Mojito, boy.
To RICH R: them hogs fattened up yet, boy?
By Fudge Packer
March 27, 2008 11:26 AM | Link to this
Rich R. is so happy that he can’t stay off this blog. If you were so happy, YOU would never look back. Rich R. and AJ are already planning their trip into the woods together. Can we say Deliverance.
By n8tive
March 27, 2008 12:13 PM | Link to this
I live in one of those GL Communities out west (Canyon Lakes), and I’ll tell you why I chose there - west of the Turnpike, there are no tourists, old people, or ghetto thugs. The schools and shops are new, and the traffic is light.
GL builds a quality home, is a reliable builder, and provisions are made to build schools, roads, parks and stores with the homes, although you may have to wait a year or two for those to be completed.
I’m not sure why the continuous acrimony, and bashing of everyone by everyone. If South Florida isn’t for you, then you should go where the grass is greener. You may be surprised. I know NC very well, I spent my summers growing up in the NC mountains, and while there are many beautiful parts of the state, those are in the mountains or at the coast. The Piedmont, where most of these bloggers are, is very hot and humid in summer, cold in winter, cloudy and smoggy a lot, and the traffic is as bad or worse than here. The crime rate is high, some of the highest rates in the nation. The locals don’t really welcome us. And the small-minded bible belt is alive and well. There are no cultural opportunities, nor is there any diversity that makes life interesting. So different strokes for different folks, but don’t try to rationalize your own decisions by bashing those of us in Florida who love it and are committed to continue making it a dynamic, vibrant place to live.
And by the way, another little pet peeve is that you Florida bashers act as if the housing downturn is due to Florida being so undesireable. In case you have to be reminded - THIS IS A NATIONAL ISSUE BROUGHT ABOUT BY UNSCRUPULOUS LENDERS. It has little or nothing to do with any one particular state.
By Rich R
March 27, 2008 2:14 PM | Link to this
I’ve stated many times why I ride this blog.
I’m not going to repeat myself and why would you care anyway.
I still own one parcel in PBC (owned since 1984) and not interested in selling it now.
I just keep up with the market etc.
Also, I predicted this madness in the summer of ‘05 and everyone wanted to bash me for it. I’ve been called every name in the book.
But, I will say that I would gladly be all the things folks called me if it means being correct and dodge the speeding train wreck that was heading your way.
Don’t be mad at me because I had the sense to see it coming in advance and bailed.
I owned many rental units when I bailed and sold each one at huge gains.
I am not and never was a flipper. I own ALL of my units for NO LESS then 7 years, with an average time being 11 years.
So nice to be right. I feel sorry for the greedy and/or stupid ones that didn’t get it.
:)
By Rich R
March 27, 2008 2:17 PM | Link to this
n8tive
You are kidding about that crap above with respect to NC aren’t you?
I’ve been here for 3 years and I have not experienced ANY of the bull you just spewed. NONE
Not one day all winter of freezing temps during the day, not one. No snow at all. No Smog and not a single drive by shooting or any other violent crime as you see daily.
You are such a hoot.
Hilarious.
By REal TRUTH
March 27, 2008 2:33 PM | Link to this
yeehaw…I live Norf Karoliner. Guess haw many gold teef I gots? yeehaw….
By n8tive
March 27, 2008 3:19 PM | Link to this
Rich R …
That’s right Rich -
It’s NOT miserably hot and humid in inland NC during the summer without a breath of ocean breeze …
The air quality index across the South from DC to Birmingham ISN’T perpetually in the Moderate to unhealthy range …
The murder rate ISN’T high relative to the population in Raleigh and Charlotte - tell that to the family of the UNC coed killed last week, and the family of the victim they killed before that …
The dead-stop traffic jams in and around RTP on I-40 that I was personally in many times is just a figment of my imagination …
NC is NOT a stronghold of the religious right - the owners of all the Jesus billboards must be from Florida …
NC is a model of progressive thinking and Equality for all races - I’m sure all the minorities in NC agree with you ….
Snow in winter is nice - NC gets ice storms, grey skies, 40-50 degrees - beautiful …
Lived in Florida for 49 years - never saw a drive-by, or been touched by violence, never even been vandalized …
Who’s spewing the crap here???
By Rich R
March 27, 2008 3:41 PM | Link to this
Ok, I’ll give you the traffic heading on I-40 into RTP during rush hour. That does get busy.
Maybe that’s because of all the Pharm, Biotech companies and the 10’s of thousands of high paid workers that go to RTP (Research Triangle park) each day.
But, the quality of life here far surpasses anything that cesspool by the sea has to offer.
People here speak engish chief. And the ones that don’t, keep their heads very low.
You should stay in SoFla. It’s idots like you that have caused such a deminished quality of life. Have at it.
Just way too funny for one day.
By Rich R
March 27, 2008 3:54 PM | Link to this
N8tive
I just had to pay my Homeowners insurance and taxes on my home.
State Farm H3 policy: $372 (PER YEAR). Taxes on my home: $1,475.
Wake County lowered the milage this year. From .065 to .053
When was the last time PBC lowered your rate?
Once again.
Way too funny for one day.
By n8tive
March 27, 2008 3:58 PM | Link to this
Rich R -
Try as you might, you can’t bull^%* me - I’ve spent more of my life in NC than you have, and you are full of it.
SO I will end the way you do - too funny! (meant in the same smug condescending way)
By REal PUPPET
March 27, 2008 4:17 PM | Link to this
woohoo…the puppets are back. I love the Norf Karoliner comments with the gold teefs! Vintage EasyasABC/linda blog puppet.
I love when a Floridian makes derogatory comments about the culture and people of another state. It just invites a response.
NC stereotype…Norf Karoliner w missing teef and inbred relatives…
OK, lets look at Florida culture. Well, if there WERE any culture in Florida to speak of.
I apologize…there is culture in South Florida. Eternally tanned leathery 60 y.o. Ex New YAWKAS packing delis in Boca, drinking their KO-AWWFEE. Beautiful.
Oh and how about drunken Spring Breakers puking their way thru Ft Lauderdale. Now THATS CULTURE!
Dont forget 85 year old retirees pulling out on to I-95 going 40 mph.
How about public schools where English is only a second, or third language? Which makes me wonder, why would ANYONE who is an American citizen subject their children to Florida public schools??
How about employment opportunities. North Carolina has the world renown research triangle, a LEGITIMATE biotech research hub.
Florida has Scripps. Well, uh..some day maybe. For now, Florida still has lots of service industry jobs, and tourism jobs. Tons of retail jobs too. DOnt forget kiosk jobs selling sunglasses and touristy T-shirts. Oh, and there are jobs that involve wearing a bikini and selling jelo shots.
Hail to Florida. Cultural capital of America…well,,,maybe LATIN America!!
By WAKE UP
March 27, 2008 4:33 PM | Link to this
So nice to see Rich R making more friends on the blog…
n8tive - sounds like you really like Canyon, how do you see the area progressing?
By n8tive
March 27, 2008 5:04 PM | Link to this
To Wake Up
Love it out here. tons of families with kids, great schools, Canyon Town Center opening in the fall, New elementary school on the property opening in September,adding a middle school next, new regional park with baseball and soccer fields next year. All upscale development - Canyon, Cobblestone Creek, Equus, Isola Bella … slowed down, but homes still selling, sales center busy every weekend, about 10% off peak prices, but luckily most of my neighborhood sold in 2003 and 2004, so we made some good equity. It’s a good spot, Boca growing in from the South, and Wellington growing in from the North. In 5 years, this will be a prime location, with quick access to the Turnpike and I-95, yet not that heavy of a traffic volume because the only people to drive out here are the ones who live out here, not a passthru. Would recommend to anyone except the Florida-haters.
By REal TRUTH
March 27, 2008 5:34 PM | Link to this
R RICH’s insurance is so low because he lives in a 1972 double -wide. I can just picture it..run down double wide in an old cornfield, two..no, three…junked rusting pickups scattered about, an old washing machine tuned over out the back door, mangy dogs running all around, assorted beer cans and spent shotgun shells here and there.
The thing is, he has the bestest place in that thar county!
By REal TRUTH
March 27, 2008 5:36 PM | Link to this
R RICH’s insurance is so low because he lives in a 1972 double -wide. I can just picture it..run down double wide in an old cornfield, two..no, three…junked rusting pickups scattered about, an old washing machine tuned over out the back door, mangy dogs running all around, assorted beer cans and spent shotgun shells here and there.
The thing is, he has the bestest place in that thar county!
By Tony
March 28, 2008 2:42 AM | Link to this
To N8tive:Are you kidding us,yeah Canyon Lakes and Isles is so great as of couple days ago on MLS over 120 houses for sale,only 3 under contract and 2 of those short sales so tell us how great it is …..your probably one of the frustrated sellers and did you say there was no old people out in W.Boynton,yeah right.Canyon is just another overpriced,zero lot line tract housing Dev. filled with Boca Raton wannabees and built by a greedy Landowner or GL for short.
By WAKE UP
March 28, 2008 11:13 AM | Link to this
What’s the matter Tony - upset that you missed it or can’t afford it? I doubt highly that there are 120 for sale in those 2 neighborhoods alone, and if there were? so what? there are close to 30k for sale in the county. 2 short sales out of 120 represents less than 2% - what’s the average amount of short sales for the rest of the county?
Congrats n8tive, sounds like you found a nice little spot in PBC.