Finally, a Luxury Home for My Someone's Luxury Car

By Michael J. Mooney Thu., Feb. 5 2009 at 10:03 AM

Categories: Business

True, the economy is at its worst point in an entire generation. But that doesn't mean a few incredibly wealthy individuals don't still need a place to park their collection of cars that are worth more than my life. At least that's the idea behind Park Place, a new collection of condominiums for cars being built by Fort Lauderdale-based Southern Centers Development Corp.

The car condos (seen in an artist's rendering at right) are under construction at State Road 84 and I-95, not far from the airport. Being billed as "The Fort Knox for Your Exotic," each unit features private bathrooms, air conditioning, fire protection, cable TV, a programmable garage door, a side entrance security door, and 24-hour security. Clients can even add plasma screens and a wet bar. The condos cost $150,000 to $450,000, depending on size, according to Park Place cofounder Randy Kella.

He says they drew up plans for the car condos in June, before the economy completely tanked, but he suspects there are still enough ultrawealthy car collectors in South Florida who need a place to put their most valued possessions. "If you have two Ferraris worth $300,000, then $150 more for a place to keep them isn't that much," he says. Kella adds that he's already had plenty of inquiries and has sold a few units. "The barn will populate itself," he says. "Friends will tell friends. This will be a happening place."

The first unit should be finished in about three weeks and the first 30 will be available in a month or so, assuming poor people haven't revolted and slaughtered the wealthy and burned their property by then.