Trailers on valuable property
CNN:
Residents of a Florida trailer park could soon be millionaires if they approve their community board's decision to sell the oceanfront property.Repeat after me--Location. Location. Location. The developer will probably be glad to let them keep their trailers and hall them elsewhere. I have seen similar situations in Southern California.
The board of Palm Beach County's Briny Breezes has decided to sell its coveted 43-acre oceanfront property to Ocean Land Investments for $510 million. But the final decision on whether or not the sale will go through will be turned over to the inhabitants of the 488 mobile homes near Palm Beach.
Its residents - who co-own the shares of Briny Breezes corporation - will now have to vote on the deal. The results will be known on January 10, 2007.
The sale would generate an average of $1 million for each of the owners and would be the county's largest property deal ever, according to Palm Beach County officials.
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