NewsBriefs

Santa Rosa Beach Gears Up

It’s changed it’s name, but the big Seaside Triathlon is scheduled for late September. Now re-named the Sun Dancer Triathlon it will take place at Gulf Place in Santa Rosa Beach the third week of September.

The race consists of a 9-mile mountain bike race, 1.5 mile kayak race in Western Lake and a five and a half mile run on scenic County Road 30-A. The triathlon starts at 7 a.m. on September 23rd.

Organizers are going all out to attract fans for the event, hosting a Health and Eco Fair on fitness and local eco-tourism, a Kid’s Zone open to youngsters of all ages for rock climbing, an obstacle course and crafts and a Silent auction.

Condo-Hotels May Not Pay the Nut

A new study warns buyers of Condo-Hotel units that the market for Condo-Hotels has become so over-built that many new owners counting on income to pay their mortgages and other expenses won’t bring in enough to pay the tab.

"I think there's going to be a lot of disappointed buyers," said Ernst & Young hospitality analyst Mark Lunt, who studies condo-hotels for developers.

The new study even predicts most South Florida condo-hotel projects won't even cover maintenance fees, property taxes or other costs. There are only a handful of condo-hotels in the Destin area. Most of the units are located in South Florida.

Assuming owners keep just 35 to 40 percent of the rent, which is the average split for condo-hotel owners, they would pay from $5,000 to $15,000 a year to cover expenses, and that doesn’t even count the expense of a mortgage, which would be the largest share of the expense for many owners.

Highest Rate of Growth Still in Florida

For the second year in a row Flagler County, Florida has had the highest rate of growth for any county in the nation.

The new estimates were provided by the U.S. Census Bureau for the period beginning July 1, 2004 through July 1, 2005. More than 5,000 new homes and condos were constructed in the area during the year.

St. Augustine, one of the oldest cities in America, is located in the heart of Flagler County on the Atlantic coast line. Three other Florida counties made the top 10 list of the fastest growing counties in the nation. But none are located in the Florida panhandle.