Broward County real estate values are continuing on an upward trajectory and show no sign of slowing their growth. The key to growth in local communities has been the strong emphasis placed on keeping cities and towns attractive and livable. The local housing market continues to enjoy robust growth and home prices are currently experiencing double-digit growth. Florida ranks among the top ten states in home price appreciation for previously lived in properties and construction and new development throughout the state has grown exponentially as well, 53% in the last year alone. While Coconut Creek, Coral Springs and Parkland were all developed primarily in the early to mid 1960's, all have experienced significant growth in the last two decades.
Coral Springs has gone through a number of housing booms since its incorporation in the early 1960s. One of the most recent building booms has occurred over the last ten years with over 5,000 new homes built. There are approximately 24,000 single family or duplex units in the city and 21,000 multi-family units with a median home value of approximately $180,000 with the average price of new homes closely matching median values.
Coral Springs offers three housing grant initiatives to residents to aid with home purchase and repair. The SHIP (State Housing Initiatives Partnership Program) is a joint effort of Broward County and the city to provide safe affordable housing in Coral Springs. It offers home repair grants to those residents who have an assessed asset value of under $159,000. The Home Repair Program offers a five-year deferred payment program for major home repairs like roof replacement and the Barrier Free Program offers aid in making homes more accessible to seniors and handicapped residents. This includes repairs and renovations such as wheelchair ramps, audio and visual alert systems, remodeled bathroom fixtures and modified kitchen cabinets and countertops.
The Planning and Zoning Division of Coral Springs provides plan review to ensure compliance with land development regulations and the Architectural Review Committee, established in 1996, reviews projects to create aesthetically pleasing development within Coral Springs. Projects are reviewed within seven working days and the process has ensured that the city remains a cohesive and desirable place to reside.
Coconut Creek is a well-planned community that is considered one of the leading cities in Broward County. An environmentally oriented city, it pursues a friendly, progressive approach to creating a superior suburban lifestyle for its residents. Housing here is primarily single-family homes, condominiums and townhouses within professionally landscaped communities. There are approximately 24,000 individual households with a median home value of approximately $145,000. This decade has seen the construction of over 1000 new homes with an average cost of $425,000.
The city is also leading a plan to develop land in central Coconut Creek into a pedestrian and nature friendly downtown. Creek Commons will be a multi use area with a mix of residences and shops. It will be located just north of Sample Road, south of Wiles Road, east of FL-441 and west of Lyons Road.
The city has an active Department of Development Services to help plan and oversee the city's growth and development. It works to make sure that growth is achieved while meeting the goals of combining quality housing, service centers, business areas and open space. The department has planning, zoning, development and code compliance divisions. They all work together to help build an outstanding community.
There is significant commercial development underway in Coconut Creek as well. This includes the Lyons Technology Park, Hillsboro Executive Park, Sawgrass Office Complex and Coconut Creek Auto Mall. Additional retail development includes Westcreek Plaza, a retail center of over 37,000 square feet as well as Banyan Square, planning over 19,000 square feet of retail space.
Whether it’s a rustic country home, an elegant estate or a distinguished residence in a contemporary residential community, Parkland does its best to preserve a quality of life that reflects the essence of its name. To date there are 47 contemporary residential communities built within the city limits. The current population is 22,000 and the city has projected growth of another 13,000 residents. Parkland prides itself on a patient, conservative approach to planning in order to maintain its park-like allure.
Some of the residential communities currently under construction include Parkland Estates, a recently approved subdivision of 35 single-family homes, some of which will have waterfront settings. Heron Bay has several neighborhoods of single-family homes already completed while the Parkland Golf and Country Club will have a mix of homes and condominiums with a golf course designed by golfing great Greg Norman.
Over 85% of Parkland households are families and 58% of these families have children less than 18 years of age. Over 95% of homes are owner occupied with the majority of homes built between 1980 and 2000, almost 4000 units. The average cost of single-family homes permitted has increased over the last few years. In 2001 678 buildings were permitted at an average cost of $276,800 and in 2003 the average cost of permitted homes was $330,300. The median price of homes in Parkland is $310,000 with over 11% of homes valued at $500,000 to $999,000.
Commercial developments underway include Waterways Shoppes and Parkland Town Center both of which will offer retail and service space. Millennium Plaza, constructed with business in mind, will feature unique architecture and natural elements to create an inviting atmosphere for workers as well as visitors.
Broward County's Office of Housing Finance has four programs to aid new and low income homebuyers. The Education/Pre-Qualification Program is available to anyone who wishes to buy a home in the county. Counseling is provided to applicants giving them an opportunity to become homebuyers in the future. The Lender's Program can help with affordable financing through a consortium of local lenders providing loans at below market rates. The Community Home Buyer's Workshop is designed to prepare the homebuyer for the home buying process and the Major Employer Workshops and Home Buyer Fairs are designed to bring affordable housing information to the workplace and community.
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