Foundations of a Planned Development Lie Fallow in Victoria Park
Categories: Tales From the Housing Crisis
To document the depth of the housing crisis, New Times is profiling some of South Florida's forgotten homes.
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Location: A half-block of unfinished cinder-block foundations -- for 24 unbuilt homes -- stretches along NE 16th Avenue from Eighth to Ninth streets in Fort Lauderdale, a block south of
the Hustler Hollywood store.
Timeline: Eight buildings, half of them large apartment complexes, along NE 16th Avenue were demolished in 2005 to make room for a new development. The land sat empty, marked by just a few piles of dirt, until two-foot-high foundations were installed in 2007.
State of disrepair: It's stayed that way ever since. At the south end of the plot, dirt and grass have filled the foundations to the top. A chainlink fence surrounds the property, and rebar poles with orange plastic caps protrude from the cement block foundations. There are no utility connections except for a lone water spigot near the south end. No "for sale" signs or other notices are posted.
Timeline: Eight buildings, half of them large apartment complexes, along NE 16th Avenue were demolished in 2005 to make room for a new development. The land sat empty, marked by just a few piles of dirt, until two-foot-high foundations were installed in 2007.
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What's the deal? The development was to be called "Victoria Green," and the developers bought the plots in 2005 for a total of $7.8 million. The properties were foreclosed on in summer 2009, and investors bought it back from Sun American Bank for around $4 million, according to the Broward County Property Appraiser.
How much? There's no realtor listed, but the assessed value on the development (broken into four plots) last year was $1.2 million. The owner is Mazal Investments 16 LLC, based in Bay Harbor Islands. We'll update if we hear from them.
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