Wednesday, August 1, 2007

Scene from a land use bust ...

Palmtrees    Remember the modest mobile home park in coastal Florida that voted earlier this year to accept a developer’s offer to buy out the owners and make them instant millionaires? (See Land Use Prof Blog, Jan. 8, 2007.)  The news this week is that the deal appears to have fallen apart.  The local government and neighbors objected to the scope of the enormous condo and hotel development plan and resisted necessary rezoning.  And the market for condos just ain’t what it was a couple of years ago.  Money just doesn’t fall from palm trees like it used to …

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