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Boynton Beach, Fl
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News Article

1/2/2010 - 2009 A Year of 2nd Growth

After rattling around for all of 2008 with many empty units, we added about 30 new townhome families and about 65 new condo families, all during the last three quarters of 2009.

The first wave of homeowners moved into the townhomes and condos in early 2007 bringing the occupancy to approximately 65% for the townhomes and approximately 55%  for the condos, by the end of 2007.

Then, after only a handful of sales in the 1st quarter of 2008, sales died and occupancy held at approximately 70% for the townhomes and 60% for the condos for over a year, until the end of 1st quarter of 2009.

In the 2nd quarter of 2009 the Developer began leasing the unsold townhomes and condos and by the end of 2009 the occupancy of the townhomes and condos was essentially 100%.

In the meantime, the apartments began leasing in the 3rd quarter of 2007 and rapidly reached 100% occupancy by the end of the 1st quarter of 2008. Since then occupancy has held steady with only a recent slight dip due to job losses leading people to leave for more economical housing e.g. living with parents, relatives, etc.

Bottom line: After three years we are finally fully occupied. Now we have to get everyone settled in and settled down and start acting like an established community.

100%

Percent Occupancy by Quarter

90%                                                                        
                                                                       
80%                                                                        
                                                                       
70%                                                                        
                                                                       
60%                                                                        
                                                                       
50%                                                                        
                                                                       
40%                                                                        
                                                                       
30%                                                                        
                                                                       
20%                                                                        
                                    Legend
    Townhomes - Blue
    Condos - Green
    Apartments - Brown
     
10%                                          
                                         
0%                                          
                                                                       
  1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q
  2007 2008 2009

Peter Schulz - Editor - Email TCR

 
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