Tuesday, January 20, 2015

Luxury communities, without the golf, on the rise

742-home Seven Bridges is underway in Delray Beach
January 19, 2015 02:15PM

Back in 2010, Sunrise-based builder GL Homes kept hearing from buyers of all ages that they wanted a country club setting  except without golf, and its fees, ranging from $1,000 to $4,000 a month.
So GL built The Bridges in Delray Beach, which opened in 2012 —  a 591-home luxury community packed with amenities, minus the golf, and a much more affordable monthly dues of $475.
The popularity of The Bridges prompted GL to build an even larger project across the street. The 742-home Seven Bridges is underway, with the first residents moving in by April or May.
The Sun Sentinel reports that developments focused on golf have been struggling, because of their steep monthly dues and maintenance cost — which can cost upwards of $3 million a year. Ken Johnson, a real estate economist at Florida Atlantic University, told the Sun Sentinel that the popularity of golf is also on the decline. [Sun Sentinel] — Kristina Puga

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