Coral Lake Mobile Home Park

Replacement Housing Study

Coral Lake Mass Eviction 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 SitesLeased SitesVacant Percent
    Broward County4,3283,853475 11.0%
    Palm Beach County1,9681,849119 6.0%
    Miami-Dade10999109.2%
    TOTALS6,4055,8016049.42%

    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 LevelEfficenty1 Bedroom 2 Bedroom3 Bedroom4+ Bedroom
    $432.7511000
    $721.2536134180 0
    $1,154.002928557982 3
    $1,442.5016109326282 15
    $1,731.00794178245 51
    Totals896231,101609 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
    Efficency1 Bedroom 2 Bedroom3 Bedroom4+
    Bedroom
    $50,66866642 1
    $84,4451118716260
    $135,11318146337421
    $168,8905522534710
    $202,66953927311715
    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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