Preview:
A developer wants to build a 978-unit apartment complex at the Pan American Estates Mobile Home Park in Fort Lauderdale.
Saulo Perez, a South Florida-based real estate developer, proposes the project on the 22.8-acre mobile home park at 150 Northwest 68th Street in the Cypress Creek neighborhood, according to city records.
The Fort Lauderdale Development Review Committee is expected to vote on the project at its meeting on Tuesday.
Designed by MSA Architects, the project would be developed in three phases. Phase I would have 329 apartments in five five-story buildings and a lake. Phase II would have 290 units in four five-story...
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I have been preaching this narrative for years now, and if mobile home park lot rents don’t go up substantially this will be the story of every mobile home park in the U.S. with a good location. Based on a standard mobile home density of 10 units per acre, this park has the capacity of about 220 mobile homes (it’s on 22 acres). But the apartment developer is going to build 5-story towers and that creates 978 apartments on that same tract. At $2,000 per month rent, the apartments are a no-brainer to be a more valuable use of this land. The sooner the American public realizes that the only defense available against re-development of mobile home parks is significantly higher rents, the sooner that residents of parks like this don’t become homeless.