Palm Beach County's property values increase again and GL Homes wants another Valencia out west

Kimberly Miller, Palm Beach Post
·3 min read
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Developer Todd Michael Glaser, who a few years ago renovated and sold this landmarked Palm Beach estate at 125 Via Del Lago, recently bought the property for a recorded $23.286 million. The guesthouse/pool cabana is at the far left.
Developer Todd Michael Glaser, who a few years ago renovated and sold this landmarked Palm Beach estate at 125 Via Del Lago, recently bought the property for a recorded $23.286 million. The guesthouse/pool cabana is at the far left.

Welcome to The Dirt! I’m real estate reporter Kimberly Miller with the latest developments in the sizzling market.

There's a real Jets vs. Sharks (Socs vs. Greasers?) showdown brewing along Lyons Road as GL Homes looks to build another 55+ Valencia community in the hinterlands of Palm Beach County. And by hinterlands I mean 10 miles from the coast where gated communities reign like Aunty Entity in Thunderdome.

It's a bit of a complicated storyline but GL got the smackdown last year in a land swap deal and some folks in Bartertown western Delray Beach have had their fill of Valencias and blame COBWRA's successful opposition to the aforementioned land swap for the new Lyons Road proposal. Also, defining COBWRA is on the entry quiz to get into Palm Beach County, so study up if you don't know.

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In happier real estate news, two affluent Palm Beachers agreed to dice up a land buy in a 50-50 split so they could each get a piece of a highly-valued Estate Section property, Ann Taylor is returning to The Gardens Mall, and woe to the non-homesteaded homeowners out there who may experience a sizable tax bump after Palm Beach County property values rose last year like SpaceX's Starship. The successful one, not the ones that exploded.

Palm Beach County market values exceed $500 billion for the first time

Palm Beach Atlantic University, center, is nestled between The Bristol condos, left, and One Flagler under construction in downtown West Palm Beach, Florida on July 21, 2023.
Palm Beach Atlantic University, center, is nestled between The Bristol condos, left, and One Flagler under construction in downtown West Palm Beach, Florida on July 21, 2023.

While not climbing at the double-digit pace as in recent years, Palm Beach County's property values were up by 9.2% in 2023 which puts them at $503 billion. That's a lot of zeroes and a hefty 74% increase from 2019 before Covid triggered every man, woman and child to move to Florida.

Taxpayers will see their preliminary property tax bills in August so have that bottle of Zima on ice and ready to go. (Unfortunately The Dirt has learned that Zima is no longer available in the U.S., but there is a recipe for a Zima-like drink that I'm bookmarking now.)

Battle on Lyons Road not for the faint of heart

GL Homes wants to build more homes on farmland south of their Valencia Grand development on Lyons Road between Atlantic Avenue Boynton Beach Boulevard on June 7, 2024, west of Boynton Beach, Florida.
GL Homes wants to build more homes on farmland south of their Valencia Grand development on Lyons Road between Atlantic Avenue Boynton Beach Boulevard on June 7, 2024, west of Boynton Beach, Florida.

If there's something that bugs the 55+ communities more than anything it's lethal viral necrosis and more 55+ communities. In the battle against more development out west, the gauntlet has been thrown with a Canyon Lakes board member suggesting folks write a thank you letter to COBWRA for pushing development onto Lyons Road and COBWRA maintaining it is proud of the role it played in defeating the controversial GL Homes land swap last year.

Sigh, stay gold Ponyboy, stay gold.

Forty Carrots café and Ann Taylor at The Palm Beach Gardens mall

Ann Taylor has returned to The Gardens Mall after a four-year-long hiatus.
Ann Taylor has returned to The Gardens Mall after a four-year-long hiatus.

Ann Taylor is rising like a Phoenix from the ashes of the pandemic's retail firestorm with an opening May 25 near Saks Fifth Avenue at The Gardens Mall. It was a mainstay there for a decade before closing in 2020. Joining it is the Garage clothing story, whose casual tween, teen and young adult attire requires a year on Ozempic or a body like a 17-year-old ballerina ice skater.

There's also Forty Carrots, which is not a produce stand. It sells frozen yogurts, smoothies, salads and sandwiches. Maybe skip the Oreo crumbles and Gummi Bear toppings if Garage is your next shopping destination.

Live lightly.

Kimberly Miller is a journalist for The Palm Beach Post, part of the USA Today Network of Florida. She covers real estate and how growth affects South Florida's environment. Subscribe to The Dirt for a weekly real estate roundup. If you have news tips, please send them to kmiller@pbpost.com. Help support our local journalism, subscribe today.

This article originally appeared on Palm Beach Post: Palm Beach County market values exceed 500 billion for the first time