Developers still salivating over Florida land

Despite a rapidly deteriorating housing market and plunging real estate values, Florida is experiencing an unprecedented number of requests to build new homes and develop commercial property.

The requests are coming from developers with an eye on a future real estate bubble, and those who don’t want to be hamstrung by the Hometown Democracy Amendment supporters are trying to put on the 2010 ballot that would give local residents the right to decide how land is used.

“Instinctively, most people would think there would be a slowdown,” said Mike McDaniel, a planner at the state’s Department of Community Affairs. “And it may be true at the other end, where the developers apply for the (building) permit. But there’s been no letup here. It’s a gold rush.”

Developers still salivating over Florida land - The St. Augustine Record - April 20, 2009