Coral Lake Mobile Home Park
Replacement Housing Study
Prepared For:
Coral Lake MHC Limited Partnership
Prepared by:
Received APR 12, 2005
City of Coconut Creek
Developmental Services Department
Real Estate Consulting
March 2005
TABLE OF CONTENTS
REPLACEMENT HOUSING RESOURCES FOR CORAL LAKE MOBILE HOME
PARK RESIDENTS
Introduction .......................................................... 1
Summary .............................................................. 1
Mobile Home Sites ............................................... 2
Table 1 - Mobile Home Lease Lot Vacancies ........ 2
Rental Housing Availability .................................... 3
Table 2 - Market Apartment Rental Vacancies ...... 3
Homeownership .................................................... 4
Table 3 - Single Family Homes For Sale ................ 4
Conclusion ............................................................ 5
EXHIBIT 1
Survey of Mobile Home Communities, Broward
Palm Beach & Miami-Dade Counties
EXHIBIT 2
Broward County Rental Complexes
(begin Page 1)
CORAL LAKE MOBILE HOME PARK
Coconut Creek, Florida
HOUSING RESOURCES FOR RESIDENTS OF
CORAL LAKE MOBILE HOME PARK
Introduction
The Coral Lake Mobile Home Park ("Coral Lake") is a 233-unit
mobile home park located within the City of Coconut Creek.
Pursuant to Section 723.083, Florida Statues, The Urban Group,
Inc. in conjunction with Consultants Resource Group, Inc. (CRG)
prepared a study to identify adequate mobile home parks or
other suitable facilities for the relocation of the mobile home
owners at Coral Lake. The study identifies housing sources at
mobile home parks, rental apartment projects, and marketed
single-family homes for sale.
Summary
The Urban Group conducted a study of residents for rent and
sale within Broward County. A study of available mobile home
lease sites within a radius of 50 miles from Coral Lake was
conducted by CRG.
Based upon those studies, The Urban Group has concluded that
adequate mobile home parks and other suitable facilities exist
for the relocation of mobile home owners in Coral Lake. The
following is a summary of the findings:
Currently, of the 233 lots in the park, 184 home lots are
leased. From interviews and surveys of residents it is estimated
that over 50% of the tenamts would move their mobile home to
another park.
Within a 50-mile radius of Coral Lake there are sufficent
numbers of lease lots available. An updated survey of over 500
mobile home parks in Broward, Palm Beach and Miami-Date Counties
was conducted by CRG. From confirmed responses, CRG found there
were 604 vacant lease sites. This was a net increase of 140
available lots from the "M/H Land Lease Community Vacant Home-
Site Inventory," prepared by CRG in September 2004.
A data search of the rental apartment market in Broward C
County found that there are 122 multi-family projects that
provide subsidzed rental housing. These 122 apartment complexes
have a total of 22,126 units utilizing varying forms of subsidies
that may assist moderate-income families. Within Coconut Creek,
Coral Springs, Pompano Beach and Margate, there are 4,321
subsidized rental units.
The Realtor Association of Greater Fort Lauderdale Multiple
Listing Exchange Service was accessed. Results of the search
indicate 2,491 apartment units were listed for lease.
(begin page 2)
Homewonership oppertunities are avilable to qualified Coral
Lake residents. The report revealed that there were 1,805 single-
family housing units available for sale in Broward County. Home
Prices range from $50,668 to $202,669.
Mobile Home Sites
The CRG report compiled and inventory of mobile home lease
communities with available mobile home sites. The September
1004 "M/H Land Lease Community Vacant Home-Site Inventory,"
relied on survey responses from a current list of mobile home
communities within southeast Florida including the "primary
counties" of Broward, Miami-Dade, Palm Beach, as well as the
"secondary counties" of Collier, Lee martain and St. Lucie.
For this report, CRG updated its first report. Information
collected from the updated survey of mobile home parks in
Miami-Dade, Broward and Palm Beach Counties indicates there
was an increase in the total number of available sites.
Available lots increased from 464, as reported in the September
2004 report, to 604 sites as currently reported.
Table 1 itemizes vacancies in the three (3) county areas
as reported in the most recent survey of mobile home parks
conducted by CRG. To compile the information CRG sent a direct
mailing to over 500 parks in the three (3) counties. There were
a total of 18 parks that responded to the survey questionaire.
Table 1
Mobile Home Lease Lot Vacancies
Broward, Palm Beach and Miami-Dade
Various Vacancies from Direct Mail Responses
Various Vacancies from Direct Mail Responses
Total Sites Leased Sites Vacant
Percent
Broward County 4,328 3,853 475
11.0%
Palm Beach County 1,968 1,849 119
6.0%
Miami-Dade 109 99 10 9.2%
TOTALS 6,405 5,801 604 9.42%
Source: Consultants Resource Group, Inc. March 2005
Beginning on Fevuary 10, 2005, relocation specialists from The
Urban Group have been regulary meeting with Coral Lake tenants in
order to garther information to enable The Urban Group to assist
in the relocation of residents. As important part of that process
is to identify the housing preferences of each household. Survey
questionnaires have been completed on 74 of the 184 households.
Our findings suggest that over 50% of the tenants survayed would
prefer to relocate their mobile home to another park. From
discussions with tenants, Broward County would be the area of
choice. Broward has 475
(begin page 3)
lease lots available. It is the county with the greatest number
of total sites (13,753) and the highest vacancy rate (11.9%). In
addition, Palm Beach has 119 vacant lease lots and Miami-Dade has
10 vacant lots.
Rental Housing Availability
Using data obtained from the Florida Housing Data Clearinghouse,
a housing research resource at the University of Florida, Shimberg
Center for Affordable Housing, Broward County has 122 multi-family
subsidzed market rent housing complexes (non-public housing). The
Clearinghouse provides public access to data about housing needs
and supply. The 122 housing complexes have a total of 22,126 housing
units. (See Exhibit 2) These housing developments are subsidized
from bonds, loan guarantees, housing tax credits, the State
Appartment Incentive Loadn (SAIL) progran, and HUD multi-family
fiancing sources. In the Cities of Coconut Creek, Margate, Coral
Springs, and Pompano Beach there are 4,231 (editor's note: figure
previously given as 4,321) subsidized rental-housing units. The
information gathered on rental housing study was limited to
Broward County because a large number of multi-family projects
were identified.
To determine available apartment rental cacancies, a search of
apartments for rent in the Broward County was conducted. The
Realtor Association of Greater Fort Lauderdale Multiple Listing
Exchange Service search results identified 2,491 available rental
apartments. The search documented apartments by number of
bedrooms and rental rates. Table 2 shows a breakdown of available
apartments, in Broward County by unit type. The MLS shows these
units available for lease.
Table 2
Market Apartment Rental Vacancies Broward County
Rent Level Efficenty 1 Bedroom
2 Bedroom 3 Bedroom 4+ Bedroom $432.75 1 1 0 0 0
$721.25 36 134 18 0
0 $1,154.00 29 285 579 82
3
$1,442.50 16 109 326 282
15 $1,731.00 7 94 178 245
51 Totals 89 623 1,101 609
69 Total Number of Units
2,491
(Source: Realtor Association of Greater Fort Lauderdale
Multiple Listing Echange Services Research conducted January 31,
2005)
(begin page 4)
In addition to the above, there are undocumented sources of
residential units for rent or for sale by owner. These properties
are not recorded by using MLS sources. Single-family, and
condominium units are available for rent but with restrictions
imposed by condominium rules.
Homeownership
From a search of the Realtor Association of Greater Fort
Lauderdale Multiple Listing Exchange Service, The Urban Group
determined that there are 1,805 residential units available
for sale in Broward County between the price ranges of
$50,688. - $202,669.
The data obtained reflected single-family dwelling units
that include single-family houses, condominiums, townhouses,
and villas. The MLS areas for all of Broward County were
used for the search. Table 3 depicts recent listings of
single-family residential properties for sale in Broward
County.
Table 3
Single Family Homes For Sale*
Multiple Listing Service
All of Broward County
Date of Research 1/12/05
Listing
Price Efficency 1 Bedroom
2 Bedroom 3 Bedroom 4+
Bedroom
$50,668 6 66 4 2
1 $84,445 11 187 162 6 0 $135,113 18 146 337 42 1 $168,890 5 52 253 47 10 $202,669 5 39 273 117 15 Totals 1,805
Source: Greater Fort Lauderdals Board of Realtors Multipls
Listing Service)
* Housing Types: Single-Family, Condominium, Townhouse, and
Villa.
(begin page 5)
The Broward County Office of Housing Finance offers a "Lender's
Program" whose objective is to:
Provide mortgage loans to purchase existing single-family
homes
Provide construction loans to build owner/occupied homes
Conditions to Qualify:
Property must be in Broward County and loan amounts are
determined by qualifying incomes
Terms include 3-5% down-payments and fixed below-market
rates for 30-years
There are income and employment requirements to qualify
Conclusion
Based upon our research of available housing, it is our
conclusion that with 604 vacant mobile home sites within a
50-mile radius and 475 in Broward County, there are more than
sufficent sites for the relocation of all 184 households, if
all mobile home owners chose to relocate their mobile homes.
Throughout Broward County, there is a large inventory of
subsidized rental apartments (22,126). In addition with 2,491
available rental units and 1,805 for sale units priced
between $50,668.00 and $202,669, there are more than a
sufficent number of "other suitable facilities" for mobile
home owners who choose not to relocate their mobile homes.
Coral Lake Relocation Report
Exhibit-1 Mobile Home Parks
Exhibit-2 Rental Apartments
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REPLACEMENT HOUSING RESOURCES FOR CORAL LAKE MOBILE HOME
PARK RESIDENTS
EXHIBIT 1
Survey of Mobile Home Communities, Broward
Palm Beach & Miami-Dade Counties
EXHIBIT 2
Broward County Rental Complexes
(begin Page 1)
CORAL LAKE MOBILE HOME PARK
Coconut Creek, Florida
HOUSING RESOURCES FOR RESIDENTS OF
CORAL LAKE MOBILE HOME PARK
CORAL LAKE MOBILE HOME PARK
Introduction
The Coral Lake Mobile Home Park ("Coral Lake") is a 233-unit mobile home park located within the City of Coconut Creek. Pursuant to Section 723.083, Florida Statues, The Urban Group, Inc. in conjunction with Consultants Resource Group, Inc. (CRG) prepared a study to identify adequate mobile home parks or other suitable facilities for the relocation of the mobile home owners at Coral Lake. The study identifies housing sources at mobile home parks, rental apartment projects, and marketed single-family homes for sale.
Summary
The Urban Group conducted a study of residents for rent and sale within Broward County. A study of available mobile home lease sites within a radius of 50 miles from Coral Lake was conducted by CRG.
Based upon those studies, The Urban Group has concluded that adequate mobile home parks and other suitable facilities exist for the relocation of mobile home owners in Coral Lake. The following is a summary of the findings:
Mobile Home Sites
The CRG report compiled and inventory of mobile home lease communities with available mobile home sites. The September 1004 "M/H Land Lease Community Vacant Home-Site Inventory," relied on survey responses from a current list of mobile home communities within southeast Florida including the "primary counties" of Broward, Miami-Dade, Palm Beach, as well as the "secondary counties" of Collier, Lee martain and St. Lucie. For this report, CRG updated its first report. Information collected from the updated survey of mobile home parks in Miami-Dade, Broward and Palm Beach Counties indicates there was an increase in the total number of available sites. Available lots increased from 464, as reported in the September 2004 report, to 604 sites as currently reported.
Table 1 itemizes vacancies in the three (3) county areas as reported in the most recent survey of mobile home parks conducted by CRG. To compile the information CRG sent a direct mailing to over 500 parks in the three (3) counties. There were a total of 18 parks that responded to the survey questionaire.
Table 1
Mobile Home Lease Lot Vacancies
Broward, Palm Beach and Miami-Dade
Various Vacancies from Direct Mail Responses
| Total Sites | Leased Sites | Vacant | Percent | |
|---|---|---|---|---|
| Broward County | 4,328 | 3,853 | 475 | 11.0% |
| Palm Beach County | 1,968 | 1,849 | 119 | 6.0% |
| Miami-Dade | 109 | 99 | 10 | 9.2% |
| TOTALS | 6,405 | 5,801 | 604 | 9.42% |
Source: Consultants Resource Group, Inc. March 2005
Beginning on Fevuary 10, 2005, relocation specialists from The Urban Group have been regulary meeting with Coral Lake tenants in order to garther information to enable The Urban Group to assist in the relocation of residents. As important part of that process is to identify the housing preferences of each household. Survey questionnaires have been completed on 74 of the 184 households. Our findings suggest that over 50% of the tenants survayed would prefer to relocate their mobile home to another park. From discussions with tenants, Broward County would be the area of choice. Broward has 475 (begin page 3)
lease lots available. It is the county with the greatest number of total sites (13,753) and the highest vacancy rate (11.9%). In addition, Palm Beach has 119 vacant lease lots and Miami-Dade has 10 vacant lots.
Rental Housing Availability
Using data obtained from the Florida Housing Data Clearinghouse, a housing research resource at the University of Florida, Shimberg Center for Affordable Housing, Broward County has 122 multi-family subsidzed market rent housing complexes (non-public housing). The Clearinghouse provides public access to data about housing needs and supply. The 122 housing complexes have a total of 22,126 housing units. (See Exhibit 2) These housing developments are subsidized from bonds, loan guarantees, housing tax credits, the State Appartment Incentive Loadn (SAIL) progran, and HUD multi-family fiancing sources. In the Cities of Coconut Creek, Margate, Coral Springs, and Pompano Beach there are 4,231 (editor's note: figure previously given as 4,321) subsidized rental-housing units. The information gathered on rental housing study was limited to Broward County because a large number of multi-family projects were identified.
To determine available apartment rental cacancies, a search of apartments for rent in the Broward County was conducted. The Realtor Association of Greater Fort Lauderdale Multiple Listing Exchange Service search results identified 2,491 available rental apartments. The search documented apartments by number of bedrooms and rental rates. Table 2 shows a breakdown of available apartments, in Broward County by unit type. The MLS shows these units available for lease.
Table 2
| Rent Level | Efficenty | 1 Bedroom | 2 Bedroom | 3 Bedroom | 4+ Bedroom |
|---|---|---|---|---|---|
| $432.75 | 1 | 1 | 0 | 0 | 0 |
| $721.25 | 36 | 134 | 18 | 0 | 0 |
| $1,154.00 | 29 | 285 | 579 | 82 | 3 |
| $1,442.50 | 16 | 109 | 326 | 282 | 15 |
| $1,731.00 | 7 | 94 | 178 | 245 | 51 |
| Totals | 89 | 623 | 1,101 | 609 | 69 |
| Total Number of Units | 2,491 |
(Source: Realtor Association of Greater Fort Lauderdale Multiple Listing Echange Services Research conducted January 31, 2005)
(begin page 4)
In addition to the above, there are undocumented sources of residential units for rent or for sale by owner. These properties are not recorded by using MLS sources. Single-family, and condominium units are available for rent but with restrictions imposed by condominium rules.
Homeownership
From a search of the Realtor Association of Greater Fort Lauderdale Multiple Listing Exchange Service, The Urban Group determined that there are 1,805 residential units available for sale in Broward County between the price ranges of $50,688. - $202,669.
The data obtained reflected single-family dwelling units
that include single-family houses, condominiums, townhouses,
and villas. The MLS areas for all of Broward County were
used for the search. Table 3 depicts recent listings of
single-family residential properties for sale in Broward
County.
Table 3
Single Family Homes For Sale*
Multiple Listing Service
All of Broward County
| Listing Price | Efficency | 1 Bedroom | 2 Bedroom | 3 Bedroom | 4+ Bedroom |
|---|---|---|---|---|---|
| $50,668 | 6 | 66 | 4 | 2 | 1 |
| $84,445 | 11 | 187 | 162 | 6 | 0 |
| $135,113 | 18 | 146 | 337 | 42 | 1 |
| $168,890 | 5 | 52 | 253 | 47 | 10 |
| $202,669 | 5 | 39 | 273 | 117 | 15 |
| Totals | 1,805 |
Source: Greater Fort Lauderdals Board of Realtors Multipls Listing Service)
* Housing Types: Single-Family, Condominium, Townhouse, and Villa.
(begin page 5)
The Broward County Office of Housing Finance offers a "Lender's Program" whose objective is to:
Conditions to Qualify:
Conclusion
Based upon our research of available housing, it is our
conclusion that with 604 vacant mobile home sites within a
50-mile radius and 475 in Broward County, there are more than
sufficent sites for the relocation of all 184 households, if
all mobile home owners chose to relocate their mobile homes.
Throughout Broward County, there is a large inventory of
subsidized rental apartments (22,126). In addition with 2,491
available rental units and 1,805 for sale units priced
between $50,668.00 and $202,669, there are more than a
sufficent number of "other suitable facilities" for mobile
home owners who choose not to relocate their mobile homes.
Questions, comments, or suggestions? Send us feedback |
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| © COPYRIGHT 2005 Coral Lake MHP |
