BUSINESS OBSERVER Ormond Beach | Palm Coast | June 2016
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Photo by Øyvind Holmstad | own work on Wikimedia Commons
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PalmCoastObserver.com
THURSDAY, JUNE 23, 2016
Esposito: the Energizer Realtor Albert Esposito doesn’t appear to be slowing down at 86 years old. JEFF DAWSEY
A NEW LOCATION Albert Esposito & Associates Inc. is now located at 206 Moody Blvd. in Flagler Beach. Call 439-5783.
STAFF WRITER
a “glorified tour guide.” “I like the fact that people are smarter than me; it’s easier,” Esposito said. He credits his love for people as his motivation to keep him in his office every day of the week. Esposito calls humans “walking encyclopedias,” expressing how much more enjoyable it is to meet new people and talk with old friends than it is to read a newspaper or watch TV. With over 35 years in the business, Esposito enthusiastically gets up every morning to see what new adventures may come. During his time, he has sold to second and third generations, and, if you ask him, he’ll probably also shake hands in business with the fourth and fifth generations as well, because he doesn’t plan on ever retiring. “Getting up and going to work isn’t so tough. I think it invigorates your body,” he said. “The only time I will ever quit is when I die, but then I’ll come back for a second opinion.”
Photo by Jeff Dawsey
“The only time I will ever quit is when I die, but then I’ll come back for a second opinion.” ALBERT ESPOSITO
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Nearly four decades ago, thenbeautician Albert Esposito left his four beauty salons in New Haven, Connecticut, and flew down to Palm Coast as a self-proclaimed dinosaur with ITT. He hasn’t taken a day off since. On any day of the week, you can find Esposito sitting at the conference table working, making calls, scheduling calendar dates and even texting on his iPhone 6, which he considers a “necessary evil.” “The bigger the phone, the more they think you know what you’re doing,” he said. “I think it has taken personal touch away from us, and that personal touch is important to life.” Raised by an immigrant father, whose exceptional work ethic he inherited, Esposito doesn’t view his age like the typical human being nor his real estate business like the typical Realtor. The 86-year-old considers his form of business slightly different from the past years, with the frequent technology bumps. Because everyone seems to already know what they want, he calls himself
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THURSDAY, JUNE 23, 2016
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Return of the
Boom? The real estate construction numbers are up in both Palm Coast and Ormond Beach. ALEX WALSH CONTRIBUTING WRITER
H
ow is the residential construction market in your area? Are more homes being built, or fewer? The answer depends on your location, and your perspective.
While new residential construction in Palm Coast continues a slow recovery ...
While new residential construction in Palm Coast continues a slow recovery... $400,000,000
Over the last five years, Palm Coast’s residential real estate activity has been climbing consistently, and has reached a new peak in 2016.
ORMOND BEACH
Construction of new housing in Ormond Beach has already exceeded boom-time totals. So far in 2016, the Ormond Beach new residential construction market is on pace to receive more than $46 million in permits. That’s up from roughly $45 million in 2015, and $37 million in 2014. That 2014 total is notable because it is even greater than the value of construction permitted in 2006. While Palm Coast builders were incredibly busy that year, the Ormond Beach market saw a more modest $36 million in activity. At the time, those totals may have been a source of envy for more southerly builders. But today they represent the fact that Ormond Beach residential construction is setting records, and on pace to do so again this year.
$400,000,000 $350,000,000
$381,123,600
$350,000,000 $300,000,000
Value, Palm Value, Coast Palm Coast
If your perspective is very recent, times have been good for companies building new homes in Palm Coast. Through the first three months of 2016, city officials have permitted the construction of 107 new single-family homes. That is the highest first-quarter total in Palm Coast since the most recent economic recovery began, and those permits represent nearly $30 million in new residential construction. If you expand your perspective from “very recent” to “somewhat recent,” the story gets even more encouraging for Realtors. Over the last five years, Palm Coast’s residential real estate activity has been climbing consistently, and has reached a new peak in 2016. In the first three months of 2011, just 24 new housing units were permitted in Palm Coast, worth only about $5.5 million in construction activity. The next two years would see relatively low construction activity as well. But in the first three months of 2016, new residential construction activity has been greater than in those same months for 2011, 2012, and 2013 combined.
If the current pace continues, officials will have approved nearly $120 million in new residential construction, almost as much as was approved in the entire fouryear period from 2009 to 2012. To be sure, Palm Coast has a long way to go before returning to pre-recession levels of residential construction activity, and in fact may never do so. Yes, the first three months of 2016 were good relative to 2007: 107 new housing units, $30 million in new construction. But that’s nowhere near what was happening in 2006, when officials permitted 845 new units, worth $211.6 million in activity. Still, given more recent activity in new Palm Coast residential real estate, 2016 has gotten off to a solid start.
$300,000,000 $250,000,000
$250,000,000 $200,000,000
$200,000,000 $150,000,000
$134,970,000
$150,000,000 $100,000,000
$95,293,000
$106,082,167
$100,000,000 $50,000,000
$71,017,692
$106,082,167
$71,017,692
2005
2006
2007
2008
$36,363,804
2005
2006
2007
2008
2009 $26,902,788
$0
$134,970,000 $101,957,000
$85,611,900 $95,293,000
$26,902,788 $21,641,682 $36,363,804
$50,000,000 $0
2010
2011 Year $21,641,682
$101,957,000
$41,003,398$85,611,900
$41,003,398 2012 2013
2014
2015
2016
2017
2009 market 2010 in Ormond 2011 2012 2013 2014 2016 2017 ...the Beach is on pace to set2015 another record.
Year ... the market in Ormond Beach is on pace to set another record. $46,335,943 $45,293,383
...the market in Ormond Beach is on pace to set another record.
$45,000,000
$45,293,383
$40,000,000 $45,000,000 $35,000,000 $40,000,000 $36,469,745
$37,111,062
$30,153,855
$30,000,000 $35,000,000
$27,686,755 $30,153,855
$25,000,000 $30,000,000
$27,686,755 $20,164,705
$20,000,000 $25,000,000 $18,852,208
$17,997,920 $20,164,705
$15,000,000 $20,000,000 $18,852,208
$17,997,920
$10,000,000 $15,000,000
$12,704,780 $10,869,348 $12,704,780
$5,000,000 $10,000,000 $0 $5,000,000
$46,335,943
$37,111,062
$36,469,745
Value, Ormond Value, Beach Ormond Beach
PALM COAST
$381,123,600
While new residential construction in Palm Coast continues a slow recovery...
$10,869,348
2005
2006
2007
2008
2009
2010
2011 Year
2012
2013
2014
2015
2016
2017
2005
2006
2007
2008
2009
2010
2011 Year
2012
2013
2014
2015
2016
2017
Values for 2016 are annualized based on permitting so far this year. $0 Values for 2016 are annualized based on permitting so far this year.
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PalmCoastObserver.com
THURSDAY, JUNE 23, 2016
How does being a combat Summer jobs program no longer just for summer soldier look on your resume? Ormond Strong is helping returning soldiers and veterans find jobs.
Organizers say they need more companies to post jobs. WAYNE GRANT
IF YOU GO
NEWS EDITOR
The new summer jobs program, Take This Job and Work It, is going strong, and the directors have decided to keep it active throughout the year. In the program, businesses list job openings on a website, takethisjobandworkit.com, and students apply directly to the company. Aida Spina, executive director, said jobs are needed year-round because college students fall into various categories. They might be recent graduates, part-time or full-time students, or students getting a degree online. Also, there are students arriving in the summer to attend college this fall. At a recent meeting of the project’s advisers, Spina said they decided to take the word “summer” off the website and to
POST A JOB OPENING
Employers can post their jobs at takethisjobandworkit. org or by contacting Aida Spina at workitvolusia@ gmail.com.
EMILY BLACKWOOD COMMUNITY EDITOR
File photo
Dwight Selby, of Selby Realty, kicked off the Take This Job and Work It program earlier this year. At left is Chamber of Commerce Executive Director Rick Fraser.
encourage students who registered last spring to come back to the website and check for jobs. “We want to remind them,” she said. “If you’re still looking for work, we’ve got a lot of jobs available. Please come back and check.” The project was created by Dwight Selby, of Selby Realty, and is sponsored by the Ormond Beach Community Foundation, with assistance by the Ormond Beach Chamber of Commerce. Spina said she has found that local business people are very busy, which is a good sign for the economy, but some have been too busy to participate in the jobs program. She said it only takes three minutes to post a job on the website, but she is willing to
make it even easier. She said if an employer will email the company name, email address, job title, job description, phone number, necessary skills, number of positions and pay, she will post the job opening on the website. There are 80 jobs now posted. “We’re moving right along,” Spina said. “We’ve got every kind of industry. We’d love to have large manufacturers offering internships.” With more jobs now available, she wants students to register on the website and check back periodically. “The more I talk to people, the more excited I become,” she said. “You know positive thinking creates positive action.”
In Ormond Strong’s unit, there are currently 25 to 30 soldiers who are in need of jobs. According to President Debbie Kruck, hiring veterans is a win-win for everyone. “You know they’re going to show up for work, do the job and stay till it’s done,” she said. “It’s about finding the right job for the right person. Some have been working at night and sleeping during the day, and some are still active so they can’t commit to specific days every week.” Kruck said while a lot of soldiers find themselves drawn to security type jobs because they fit in nicely with their military backgrounds, some make a point to explore other interests such as cooking and ballroom dancing. “They’re full-spectrum,” she said. “Some people would be surprised, in a good way. They’re very adventurous in the things they’d like to try.” Due to the mass shooting in Orlando on June 12, many veter-
What: Ormond Strong Job Fair When: Noon to 5 p.m. Aug. 13 Where: Volusia Mall, 1700 International Speedway Blvd., Daytona Beach Cost: Free Contact: Email ormondstrong@gmail. com or call 566-3685.
ans were not comfortable enough to disclose their names and the companies that hired them. However Kruck said that while safety is always an important issue, many veterans remain quiet about their service in job interviews when they should speak up. “They tend to stay in the background, especially career veterans,” she said. “They don’t want to be in the spotlight. They don’t put it out there that they’re vets when they really should. So I try to put them out front and with the right people.” In an effort to connect soldiers with future employers, Ormond Strong is hosting a job fair on Aug. 13 that will spotlight career options, resources for veterans and more. For more information, find Ormond Strong on Facebook.
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COMMERCIAL PERMIT APPLICATIONS Dimare Construction applied for a $1,433,000 permit for a 12,225-square-foot classroom at 5435 Belle Terre Parkway, Palm Coast Baptist Church. Upson Enterprises Inc. applied for a $25,000 permit for martial arts alterations at 515 Pam Coast Parkway SW, units 15 and 16.
COMMERCIAL PERMITS ISSUED Albu and Associates was issued a $1.47 million permit for Chase Bank at 214 Palm Coast Parkway NE. Commercial Construction was issued a $125,000 permit for interior alterations at Designs for Health at 6 Commerce Blvd.
OCCUPANCY PERMIT Steve Jurczak was issued an occupancy permit for Monroe Aerospace a sales office at 3 Hargrove Grade, suite 2.
Upson Enterprise was issued a certificate of occupancy for $20,000 for 3N Motion Dance Studio at 515 Palm Coast Parkway SW, units 9 and 10.
According to hobbylobby.com, Hobby Lobby will be opening Aug. 1 at 250 Palm Coast Parkway NE, unit 1100, in Palm Coast. Hobby Lobby is the nation’s largest privately owned retail chain for craft and home décor. Fifty new Hobby Lobbys will be opening in 2016, including Palm Coast. Hobby Lobby offers full-time employees $15.35 per hour to start; parttime employees start at $10.23 per hour. The store hours will be 9 a.m. to 8 p.m. and closed every Sunday.
BIZ BUZZ
The following is an update for permit activity in Palm Coast for June 2-8. Total permits: 217. Since January 2009, $917,148,083 construction dollars have been invested.
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THURSDAY, JUNE 23, 2016
Hobby Lobby to open Aug. 1
PERMITS
CERTIFICATION OF OCCUPANCY
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Hobby Lobby is set to open Aug. 1 in Palm Coast.
Floors Alive: 31 years in business “Welcome to the good life” was the sign that drew in Michael and Stacy Walker to start Floors Alive, 31 years ago. They started out in a 12-by-12 building and have grown to a 3,000 square feet. In 1985, Palm Coast was isolated but they knew Palm Coast would grow from the 8,500 people who lived there at the time.. The toughest times for the Walkers was overcoming the economy recession; much of their business then was through builders. Today they thank their success on returning customers from 20 and 30 years ago.
Four students receive $3,000 in scholarships
The Florida Hospital Flagler medical staff awarded four local graduating high school students with $750 scholarships,
Courtesy photo Lisa Wolfe
Stacey and Allison Walker, owners of Floors Alive.
totaling $3,000. Florida Hospital Flagler general surgeon Dr. John Cascone presented the awards to the students during a special ceremony on April 21, at Flagler Palm Coast High School. This year’s recipients were FPC students Amanda Hok and Summer Wilcox, along with Matanzas High School student Meredith Wills. The Dr. John M. Canakaris award, which honors a high school student who has volunteered within the commu-
nity to help the underprivileged and less fortunate, was awarded to Matanzas High School student Vincent Launh.
Around town Troy Dubose, a Modern Woodmen of America representative, has attained the Fraternal Insurance Counselor designation. Representatives devote more than one year to meet the examination and career development criteria.
Florida Hospital Flagler’s medical staff 2016 scholarship recipients Meredith Wills, Amanda Hok, Summer Wilcox and Vincent Launh.
In celebration of the 42nd-annual National Emergency Medical Services Week, the Florida Hospitals in Volusia and Flagler counties hosted various events honoring emergency service personnel during the week of May 16-20. Florida Hospital Flagler provided a free lunch outside its ER entrances.
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THURSDAY, JUNE 23, 2016
A TURNING POINT? Saltwater canal home breaks $1 million sale barrier, a first since the crash. LISA WOLFE STAFF WRITER
Real estate all over the United States took a bad turn in 2007, and Palm Coast was no different. Here, 40% of the real estate value was lost from 2009 to 2012. “Something that was $1 million dropped from $1 million to $600,000, almost overnight,” Bill Nix, of 100 Plus Realty Group, said. “Since 2012, we’ve regained about half of that.” Palm Coast’s real estate inventory is low right now: There are more buyers than sellers. And it seems that many are looking for the same thing. “Our bread and butter in Palm Coast is a $200,000 to $250,000 pool home with three bedrooms and two bathrooms,” Nix said. Nix recently sold 4 Devin Court, which sits on the salt water canal in The Sanctuary. This transaction is believed to be the first home to sell for over $1 million on the salt water canals since the market crashed. Nix hasn’t been able to find a sale to prove otherwise. He believes this is a turning point. “Now we have a comp that’s on the canal that is going to help a lot of people raise the value of their home,” Nix, said. “The market is coming back, but it’s not coming back in a rush. It’s coming back in a steady basis.”
$2.41 million: 46 S. Hammock Beach Circle
TOP LISTINGS
The sale of 4 Devin Court appears to be the first $1 million home sold on a salt water canal since the recession. What else is on the market? Check out the three other homes on this page, as well as the home on Page 7B, which is the most expensive home on the market.
$2.99 million: 47 Calle Del Sur
$3.25 million: 34 Audubon Lane
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Take a look
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THURSDAY, JUNE 23, 2016
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The fourth balcony view.
inside Palm Coast’s highest priced home The oceanfront house in Hammock Dunes has 7,502 square feet.
A
Hammock Dunes home is the top home on the market, listed at $5,340,000. The home features ocean views from every room with a private beach walkover and a 50-foot pool. Peruvian walnut wood and coral cover the floors throughout the home. The home on Granada Drive boasts six bedrooms, 7.5 bathrooms and 7,502 square feet of living space. — LISA WOLFE
Courtesy photos
Above: The ocean views are unobstructed.
Above: The grand staircase overlooks the foyer. Left: A Hammock Dunes home is the top listing on the market.
Wake-up to Florida sunrises.
The views while cooking are breathtaking. The home features six bedrooms.
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PalmCoastObserver.com
THURSDAY, JUNE 23, 2016
BREAKING NEWS: PRINT IS NOT DEAD, COMMUNITY NEWSPAPERS THRIVING
Wayne Grant
The sign says “open 24 hours” but construction is still going on at the CVS on West Granada Boulevard.
Companies moving to Ormond Beach WAYNE GRANT NEWS EDITOR
Brick and mortar are being laid at two very noticeable job sites, the CVS on the corner of West Granada Boulevard and Nova Road; and the Vystar Credit Union, 1301 W. Granada Boulevard. Terry West, president and CEO of Vystar, said from the company’s Jacksonville headquarters that the Ormond Beach branch could be open the first week of September. There will be 11 employees in the 4,000-square-foot building. It will have four drive-thrus plus one for business only, a drive-up ATM and a walk-up ATM. Vystar offers a full-range of services, including checking, savings, certificate of deposit, IRA accounts and loans. West said their business loans range from small amounts into the millions. Vystar Credit Union started in Jacksonville in 1952 for military and civil service. It was later opened up to all residents of 21 counties in North Florida, including Volusia, and there are 522,000 members. The Ormond Beach branch will be the 39th branch. There is one also under construction in Port Orange and another planned for Daytona Beach. “Volusia is a growing county,” West said. “There are a lot of wonderful things going on there. You see a lot of development and growth. We’re excited about it.” West said they have already joined the Ormond Beach Chamber of Commerce and plan to be very involved in the community.
A defunct gas station and a Burger King were taken down to build the CVS pharmacy. After it opens later in the summer, the CVS in The Trails shopping center is expected to close. The Publix could then be expanded, local business watchers say. Other planned projects along Granada Boulevard include Antares Assisted Living Facility, 720 W. Granada Blvd.; a retail plaza called Ormond Central, west of Tomoka Avenue; and a retail project called Granada Pointe at 600 W. Granada Blvd. GROWTH SEEN AT BUSINESS PARK
Also new to Ormond Beach is Haley Construction Inc., which is moving their headquarters from Daytona Beach to the Airport Business Park. The company recently bought the building at 9 Aviator Way from Germfree, which moved to a larger building at 4 Sunshine Blvd. in the business park. Germfree, which manufactures labs and pharmacy equipment, needed room to grow, according to Joe Mannarino, city economic development director. Mannarino said Haley Construction will do some renovation to the building before moving in. The company builds restaurants throughout the United States. Haley also bought a lot next door to allow room for growth, he said. The inventory is low at the business park. There are a few buildings for sale, but every cityowned developed lot has been sold.
ORMOND BEACH LICENSES AND PERMITS January through April 2016, compared to same period 2015. Business Licenses: 215 Total licenses — 5 more than last year. 83 New businesses — 23 more than last year. 26 Home based businesses: — 13 less than last year. Building Permits, Residential and Business: 1,711 Total permits — 81 more than last year. $38.5 Million Total Construction Value — $12.5 million more than last year. In 2015, there was $92 million in construction value, which was $21.5 million more than in 2014. Source: Ormond Beach Economic Development Department
"Newspapers are alive and well. We are relevant and vital to the communities we serve. Our future is paved with a path of services that continue to lift and enhance the communities we serve and to provide the stories no one else can tell. These are our stories, our people, our communities, our commitment. Ultimately, we have not abandoned them, and I don’t believe our readership will abandon us ... “Perhaps our greatest advantage is we have content no one else does.” - Heather Goodwin Henline, Inter-Mountain
“Our readership recognizes the value of the local newspaper. We are the cheerleader, guardian and watchdog all rolled up in one. We monitor the pulse of the community and focus on local news stories of interest– not what we (newspaper) want but what our readers want in their community newspapers.” - Doug Caldwell, Petoskey News-Review
67% of residents in small U.S. communities read local newspapers ranging from one to seven days a week.
Excerpts from: Knolle, Sharon. "Despite 'Doom and Gloom,' Community Newspapers are Growing Stronger." Editor & Publisher, 1 June 2016
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208697
Vystar Credit Union to open branch; Haley Construction moves headquarters.