Currency Flux Won't Scare Condo Buyers

"I expect buyers to come from everywhere," Danny tells us (he's snapped along with his son Joseph Salvatore). Recently Fernbrook, an arm of the Canadian Fernbrook Homes, unveiled plans for its Sabbia Beach condo project, which the company will develop in Pompano Beach on one of the last remaining undeveloped oceanfront parcels in this part of Broward. The 72-unit project is already 25% reserved, and Danny isn't worried that committed buyers will shy away because of temporary currency fluctuations.

How temporary isn't clear yet, since the Brazilian real, for instance, is currently taking a dive against the greenback and is weaker than at any time in the last 10 years, and the euro is cooling off so much there's talk of parity with the US dollar, which has never happened. Still, international buyers are still hot for South Florida, and those "looking for new construction directly on the sand will find one of the very few places left,” at Sabbia, Danny says. Pre-construction prices start around $900k, with groundbreaking slated for this fall.

Up in Clearwater, Lockheed Martin recently broke ground on its solar carport project, which is being built by Advanced Green Technologies. The property will provide parking for 534 cars, which will be sheltered by 7,260 solar modules. It will be the largest private, non-utility solar project in the state (which is clearly throwing down a gauntlet to South Florida, with all its sunshine, to do a bigger one) Snapped: Michael Kornahrens, president of Advanced Green Technologies; Curt Engel, general manager of Lockheed Martin Clearwater facility; Clint Sockman, vice president of Advanced Green Technologies; and Jonathan Melendez, business development manager for Hanwha SolarOne, before laying the first ceremonial panel.

Work has started on the final phase of Flagler Station in northwest Dade, which will bring 1.7M SF to the park when completed. The first two buildings of the phase will measure 235k SF of industrial space, set for completion in the summer. The business park, which is on 900 acres near 10505 Northwest 112th Ave, is being developed by Flagler Global Logistics. Current tenants include Ryder System, TracFone Wireless, State Farm and Progressive Insurance. Hernandez Construction, an affiliate of Stiles, is building the structure. [Real Deal]